Question: its a governmental accouting problem here is the problem here is some of the account names please help im stuck ! Required information [The following

its a governmental accouting problem  its a governmental accouting problem here is the problem here is
here is the problem
here is some of the account names
some of the account names please help im stuck ! Required information
please help im stuck !
[The following information applles to the questions displayed below] INVOLVE was incorporated

Required information [The following information applles to the questions displayed below] INVOLVE was incorporated as a not-for-profit organization on January 1, 2023. During the fiscal year ended December 31. 2023, the following transactions occurred. 1. A business donated rent-free office space to the organization that would normally rent for $35,100 a year. 2. A fund drive raised $185,500 in cash and $101,000 in pledges that will be paid next year. A state government grant of $151,000 was received for program operating costs related to public health education. 3. Salaries and fringe benefits paid during the year amounted to $208,660. At year-end, an additional $16,100 of salaries and fringe benefits were accrued. 4. A donor pledged $101,000 for construction of a new building, payable over five fiscal years, commencing in 2025 . The discounted value of the pledge is expected to be $94,360. 5. Office equipment was purchased for $12,100. The useful life of the equipment is estimated to be five years. Office furniture with a fair value of $9,700 was donated by a local office supply company. The furniture has an estimated useful life of 10 years. Furniture and equipment are considered net assets without donor restrictions by INVOLVE. 6. Telephone expense for the year was $5,300, printing and postage expense was $12,100 for the year, utilities for the year were $8,400 and supplies expense was $4,400 for the year. At year-end, an immaterial amount of supplies remained on hand and the balance in accounts payable was $3,700. 7. Volunteers contributed $15,100 of time to help with answering the phones, malling materials, and various other clerical activities. 8. It is estimated that 80 percent of the pledges made for the 2024 year will be collected. Depreciation expense is recorded for the full year on the assets recorded in item 5 . 9. All expenses were allocated to program services and support services in the following percentages: public health education, 40 percent; community service, 30 percent; management and general, 20 percent; and fund-raising, 10 percent. 10. Net assets were released to reflect satisfaction of state grant requirements that the grant resources be used for public heaith education program purposes. 11. All nominal accounts were closed to the appropriate net asset accounts. No Journal Entry Required Accounts Payable Allowance for Depreciation-Equipment and Furniture Allowance for Uncollectible Pledges Cash Commission Revenue Community Art Education Program Community Service Program Contributions Receivable Contributions-With Donor Restrictions-Program Required information [The following information applles to the questions displayed below] INVOLVE was incorporated as a not-for-profit organization on January 1, 2023. During the fiscal year ended December 31. 2023, the following transactions occurred. 1. A business donated rent-free office space to the organization that would normally rent for $35,100 a year. 2. A fund drive raised $185,500 in cash and $101,000 in pledges that will be paid next year. A state government grant of $151,000 was received for program operating costs related to public health education. 3. Salaries and fringe benefits paid during the year amounted to $208,660. At year-end, an additional $16,100 of salaries and fringe benefits were accrued. 4. A donor pledged $101,000 for construction of a new building, payable over five fiscal years, commencing in 2025 . The discounted value of the pledge is expected to be $94,360. 5. Office equipment was purchased for $12,100. The useful life of the equipment is estimated to be five years. Office furniture with a fair value of $9,700 was donated by a local office supply company. The furniture has an estimated useful life of 10 years. Furniture and equipment are considered net assets without donor restrictions by INVOLVE. 6. Telephone expense for the year was $5,300, printing and postage expense was $12,100 for the year, utilities for the year were $8,400 and supplies expense was $4,400 for the year. At year-end, an immaterial amount of supplies remained on hand and the balance in accounts payable was $3,700. 7. Volunteers contributed $15,100 of time to help with answering the phones, malling materials, and various other clerical activities. 8. It is estimated that 80 percent of the pledges made for the 2024 year will be collected. Depreciation expense is recorded for the full year on the assets recorded in item 5 . 9. All expenses were allocated to program services and support services in the following percentages: public health education, 40 percent; community service, 30 percent; management and general, 20 percent; and fund-raising, 10 percent. 10. Net assets were released to reflect satisfaction of state grant requirements that the grant resources be used for public heaith education program purposes. 11. All nominal accounts were closed to the appropriate net asset accounts. No Journal Entry Required Accounts Payable Allowance for Depreciation-Equipment and Furniture Allowance for Uncollectible Pledges Cash Commission Revenue Community Art Education Program Community Service Program Contributions Receivable Contributions-With Donor Restrictions-Program

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