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The following transactions of Rumbaugh State College occurred during the

The following transactions of Rumbaugh State College occurred during the 20X520X6 fiscal year: 1. Cash was received

Question:

The following transactions of Rumbaugh State College occurred during the 20X5â€“20X6 fiscal year:

1. Cash was received as follows for the purposes noted:

2. Expenses paid for the restricted purposes were:

3. Investments of $100,000 were made.

Required
Prepare journal entries for thesetransactions.

Transcribed Image Text:

Educational and general . 75,000 Endowments Institutional support and research Private gifts- Research Federal grants Instruction (reimbursement grant) -. . 150,000 State grant Student services (reimbursement grant) .20,000 285,0o .. -. - 40,000 - .. Auxiliary enterprises .. .. 1300 415,0 Educational and general Institutional support Research Instruction Student services S 40,000 .- ..3 .- .. 125,000. 30,000 .. . 20,000 215,000 0,000 305,000 Auxiliary enterprises

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Governmental and Nonprofit Accounting

ISBN: 978-0132751261

10th edition

Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi

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Question Posted: Oct 25, 2014 05:08 AM

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