Carleton Agency, a VHWO, conducts two programs: Medical Services and Community Information Services. It had the following transactions during the year ended June 30, 2019, shown.
1. Received the following contributions:
Unrestricted pledges . . .. .... .. .... . .. .... .. .. .. . .. . . . . .. . . .. . .. .... .. .. . $800,000
Restricted cash.. .. .. . .. .. .. .... .. . .. .. .. .... .. . .. . . .. . . . . .. . .. .. .. .... . 95,000
Building fund pledges ... .. .. .. .... . . . .. .. .. .... ... .. . . .. . . . . . .. .. .. .. ... 50,000
Endowment fund cash ... .. .. .. .... . . . .. .. .. .... ... .. . . .. . . . . . .. .. .. .. ... 1,000
2. Collected the following pledges:
Unrestricted .. .. .. .. . .. .. .. .... .. . .. .. .. .... .. . .. . . .. . . . . .. . .. .. .. .... . $450,000
Building fund . .. .. .. . .. .. .. .... .. . .. .. .. .... .. . .. . . .. . . . . .. . .. .. .. .... . 20,000
3. Received the following unrestricted cash flows from:
Theater party (net of direct costs). .. ... . . .. .. . . .. ... .. .. .. . . .. . . . . . . $ 12,000
Bequests .. .. .... .. . .... .. .... .. . .... .. .... .. . . . . . .. . . . . .. . .... .. .. .. . 10,000
Membership dues ... . .. .... .. .... . .. .... .. .. .. . .. . . . . .. . . .. . .. .... .. .. . 8,000
Interest and dividends ... .. .... .. .. . . . .. ... . .. .. ... .. . . . . .. . . . . . .. .... .. . 5,000
4. Program expenses incurred (processed through vouchers payable):
Medical services .... . .. .... .. .... . .. .... .. .. .. . .. . . . . .. . . .. . .. .... .. .. . $ 60,000
Community information services . .. ... . . .. .. . . .. ... .. .. .. . . .. . . . . . . 15,000
5. Services expenses incurred (processed through vouchers payable):
General administration .. .. .. .. .... . . . .. .. .. .... ... .. . . .. . . . . . .. .. .. .. ... $150,000
Fund raising.. .. .. .. . .. .. .. .... .. . .. .. .. .... .. . .. . . .. . . . . .. . .. .. .. .... . 200,000
6. Purchased fixed assets:
Fixed assets purchased with donor-restricted cash .. . . ... .. .... .. . . . . . .. . $ 18,000
Carleton’s policy is to release donor restrictions when assets are placed in service.
7. Depreciation of all buildings and equipment in the land, buildings, and equipment fund was allocated as follows:
Medical services program.. .... .. .. . . . .. ... . .. .. ... .. . . . . .. . . . . . .. .... .. . $ 4,000
Community information services program. . . .. . . . . .. . .. .. .. . . . . .. . .. . 3,000
General administration .. .. .. .. .... . . . .. .. .. .... ... .. . . .. . . . . . .. .. .. .. ... 6,000
Fund raising.. .. .. .. . .. .. .. .... .. . .. .. .. .... .. . .. . . .. . . . . .. . .. .. .. .... . 2,000
8. Vouchers paid:
Paid vouchers payable .. .. .... .. .. . . . .. ... . .. .. ... .. . . . . .. . . . . . .. .... .. . $330,000
Record journal entries for the preceding transactions. Number your journal entries to coincide with the preceding transaction numbers.