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. |