Donated Services. Indicate whether each of the following donated services situations would require a journal entry for contribution revenue and a related expense or asset by circling Y for yes or N for no.
Y N 1. Volunteers worked as sales assistants in a not-for-profit hospital snack shop.
Y N 2. An architect provided pro bono design services for the planned remodeling of a local museum.
Y N 3. A member of a church volunteered to repaint the church’s activities room to make it more attractive. Church leaders had not planned to repaint the room.
Y N 4. Several local persons used their cars to deliver meals to senior citizens for Meals on Wheels.
Y N 5. A psychiatrist volunteered several hours each week at a not-for-profit counseling center to assist persons with alcohol and drug addiction.
Y N 6. A local CPA performed the regular annual financial statement audit for a local youth development camp, an NPO.
Y N 7. A local church pastor donated several hours weekly to work with troubled youths in an after-school activities program run by a local NPO.
Y N 8. Helpful citizens served as ‘bell ringers” at the entrances of local businesses to collect money for the Salvation Army.