VHWO, funds, contributions. The Health Awareness Club is a not-for-profit organization that conducts meetings and special programs dedicated to promoting etter health for members of the community. Members participate in regularly scheduled classes and exercise programs. There are also a variety of community services available to the general population. During the year, various funds flow to the organization. A list of receipts follows. For each item, indicate which of the following funds records the item, and indicate the category within which the item is recorded in that fund.
|
Name of Fund |
Category |
|
Current unrestricted fund |
Revenue—Unrestricted |
|
Current restricted fund |
Public Support—Unrestricted |
|
Plant fund |
Deferred Revenue |
|
Endowment fund |
Public Support—Temporarily Restricted |
|
Public Support—Permanently Restricted |
|
|
Revenue—Temporarily Restricted |
The transactions were as follows:
a. General membership dues.
b. Receipts for pancake breakfast open to public.
c. Donation of equipment to be used in exercise room. Restrictions are released when assets are placed in service.
d. Donation of equipment to be sold; proceeds are to be used to support education program.
e. Share of federated national fund drive.
f. Sale of educational books produced by the organization.
g. Auction of donated services to be used to acquire additional land for expansion.
h. Receipt of endowment from former president of organization.
i. Income on endowment that supports youth health program.
j. Pledge of $5,000 from local corporation for youth health program. The pledge is conditional, in that the organization must match the grant with funds raised from other corporate sponsors.