Chapter 22 Problem I (1) a
Recognized in period received.
(2)
b
Recognized in period received. Restriction is released when expenses are incurred.
(3)
a
Recognized in period made.
(4)
a
Recorded at present value at time promise to give is received.
(5)
c
Endowment principal cannot be spent. Earnings are unrestricted.
(6)
b
(7)
f
Recognized in period received. Restriction released either (1) when asset is placed in service or (2) over its useful life. Recognized when conditions are met.
(8)
a
Recorded at fair value when received.
(9)
a
Donated services of a skilled nature that would otherwise be purchased.
(10)
f
Not skilled services. May be footnoted.
(11)
b
Recognized in period received. Restriction is released when time restriction is satisfied.
(12)
b
Recognized in period received. Restriction is released when expenses are incurred.
(13)
d
Recognized revenue as expenses are incurred for research project.
(14)
b
Recognized in period received. Restriction is released either (1) when asset is placed in service or (2) over useful life of asset.
(15)
a, b, or f (If collection is displayed to the public or otherwise held for exhibit, the university is not required to recognize contributions as revenue.)
Problem II (a) Cash...................................................................................................... Revenues—Temporarily Restricted Contributions ................. (b) Expenses............................................................................................... Cash ............................................................................................... Reclassifications Out—Temporarily Restricted— Satisfaction of Program Restrictions......................................... Reclassifications In—Unrestricted— Satisfaction of Program Restrictions ........................... (c) Reclassifications Out—Temporarily Restricted— Satisfaction of Program Restrictions......................................... Reclassifications In—Permanently Restricted— Satisfaction of Program Restrictions ...........................
200,000 110,000
200,000 110,000
110,000 110,000 90,000 90,000
Permanently Restricted Net Assets—Mandatory Transfer-Out .................................................................................. Due to Endowment Fund ....................................................
90,000
90,000
Note to Instructor: The following entry would be made in the endowment fund: Due from Restricted Current Fund .................................................. Permanently Restricted Net Assets—Mandatory Transfer-In ...............................................................................
90,000
(d) Cash...................................................................................................... Revenues—Temporarily Restricted Contributions .................
15,000
Problem III (1) (a) Cash ....................................................................................................... Revenues—Temporarily Restricted Contributions................... Revenues—Permanently Restricted Contributions.................
90,000
90,000
Endowment Investments .................................................................... Cash.................................................................................................
45,000
(b) Cash ....................................................................................................... Accounts Receivable ......................................................................... Deferred Revenues.............................................................................. Revenues—Student Tuition and Fees ........................................
1,686,000 148,000 66,000
Cash ....................................................................................................... Deferred Revenues .......................................................................
158,000
(c) Cash ....................................................................................................... Allowance for Uncollectible Tuition and Fees ................................ Accounts Receivable...................................................................
308,000 12,000
Expenses—Institutional Support (Provision for Uncollectible Tuition and Fees) ........................................................................... Allowance for Uncollectible Tuition and Fees ..................
9,000
(d) Cash ....................................................................................................... Revenues—Unrestricted Investment Income ..........................
6,000
(e) Cash ....................................................................................................... State Appropriations Receivable...............................................
75,000
State Appropriations Receivable ..................................................... Revenues—State Government Appropriations ......................
40,000
Cash ....................................................................................................... Revenues—Temporarily Restricted Contributions................... (g) Cash ....................................................................................................... Investments..................................................................................... Revenues—Temporarily Restricted Gain on the Sale of Investments.............................................................................. Revenues—Temporarily Restricted Investment Income ........ (h) Expenses—Instruction..........................................................................
30,000
(f)
24,000
500,000
15,000
45,000 45,000 45,000
1,900,000 158,000
320,000
9,000 6,000 75,000 40,000 30,000 21,000 1,100 1,900
(i)
Expenses—Research ........................................................................... Expenses—Institutional Support......................................................... Expenses—Student Aid ....................................................................... Expenses—Student Services............................................................... Expenses—Operation and Maintenance of Plant ........................ Accounts Payable ........................................................................ Cash.................................................................................................
400,000 100,000 100,000 200,000 500,000
Expenses—Research ........................................................................... Cash.................................................................................................
13,000
Reclassifications Out—Temporarily Restricted—Satisfaction of Program Restrictions ................................................................ Reclassifications In—Unrestricted—Satisfaction of Program Restrictions .........................................................
(2)
13,000
13,000 13,000
(j)
Accounts Payable ............................................................................... Cash.................................................................................................
40,000
(k)
Cash ....................................................................................................... Revenues—Temporarily Restricted Endowment Income ......
7,000
(l)
Cash ....................................................................................................... Pledges Receivable ............................................................................ Revenues—Unrestricted Contributions .....................................
16,000 14,000
Expenses—Institutional Support Provision for Uncollectible Contributions.................................................................................. Allowance for Uncollectible Contributions .......................
60,000 1,740,000
2,000
40,000 7,000
30,000
2,000
USJR Private University Statement of Activities For Year Ended June 30, 20x9 Unrestricted
Changes in net assets: Revenues and gains: Tuition and fees................................................. Contributions ..................................................... Government appropriations, grants, and contracts....................................................... Endowment income ........................................ Net realized gains on investments ................ Other investment income............................... Total revenues and gains .......................... Net assets released from restrictions: Satisfaction of program restrictions.................... Total revenues and gains and other support... Expenses and losses: Instruction................................................................ Research .................................................................
P1,900,000 30,000
Temporarily Permanently Restricted Restricted
Total
P45,000
P1,900,000 150,000
6,000 P1,976,000
7,000 1,100 1,900 P 85,000
P45,000
40,000 7,000 1,100 7,900 P2,106,000
13,000 P1,989,000
(13,000) P 72,000
P45,000
0 P2,106,000
40,000
P 500,000 413,000
P 75,000
P 500,000 413,000
Institutional support ............................................... Student aid ............................................................. Operation and maintenance of plant.............. Student services ..................................................... Total expenses and losses ............................... Increase (decrease) in net assets ...................... Net assets at beginning of year ................................ Net assets at end of year............................................
111,000 100,000 500,000 200,000 P1,824,000 P 165,000 487,000 P 652,000
P 0 P 72,000 40,000 P112,000
P 0 P45,000 50,000 P95,000
111,000 100,000 500,000 200,000 P1,824,000 P 282,000 577,000 P 859,000
Problem IV (1) Journal entries: (a) Cash ....................................................................................................... Bonds Payable...............................................................................
20,000,000
Cash ....................................................................................................... Revenues—Temporarily Restricted Contributions...................
5,000,000
(b) Construction in Progress ..................................................................... Cash.................................................................................................
7,000,000
(c) Expenses—Operation and Maintenance of Plant (Interest Expense).......................................................................... Cash.......................................................................................... (d) Building................................................................................................... Construction in Progress............................................................... Cash................................................................................................. Retained Percentage—Liability to Contractor ....................... Reclassifications Out—Temporarily Restricted—Satisfaction of Plant Restrictions............................................................................ Reclassifications In—Unrestricted—Satisfaction of Plant Restrictions .......................................................................... (e) Mortgage Payable .............................................................................. Expenses—Operation and Maintenance of Plant (Interest Expense).......................................................................... Cash.......................................................................................... (f)
800,000 25,000,000
7,000,000
800,000 7,000,000 16,000,000 2,000,000
5,000,000 2,000,000 800,000 200,000 350,000
(g) Contributions Receivable................................................................... Revenues—Temporarily Restricted Contributions...................
200,000
(h) Investments ........................................................................................... Revenues—Temporarily Restricted Contributions...................
5,000,000
5,000,000
Land........................................................................................................ Building................................................................................................... Mortgage Payable ....................................................................... Revenues—Unrestricted Contributions .....................................
Expenses—Institutional Support (Provision for Uncollectible Contributions) ................................................................................ Allowance for Uncollectible Contributions .......................
20,000,000
20,000 500,000
2,800,000
90,000 460,000 200,000
20,000 500,000
(i)
Cash ....................................................................................................... Revenues—Temporarily Restricted Investment Income ........
(j)
Expenses—Operation and Maintenance of Plant (Depreciation Expense) ............................................................... Accumulated Depreciation.................................................
(2)
USLS Private University Statement of Activities For Period Ended June 30, 20xx
Changes in net assets: Revenues and gains: Contributions ................................................... Other investment earnings ........................... Total unrestricted revenues and gains.. Net assets released from restrictions: Satisfaction of plant acquisition restrictions ... Total revenues and gains and other support
10,000
10,000
25,000
Unrestricted
Temporarily Restricted
P 460,000 0 P 460,000
P 5,700,000 10,000 P 5,710,000
5,000,000 (5,000,000)* P5,460,000 P 710,000
25,000
Permanently Restricted
Total
P
P6,160,000 10,000 0 P6,170,000
P
0 0 P6,170,000
Expenses: Operations and maintenance of plant .......... Institutional support ............................................. Total expenses ................................................
P1,625,000 20,000 P1,645,000
P
0
P
0
P1,625,000 20,000 P1,645,000
Increase (decrease) in net assets .........
P3,815,000
P
710,000
P
0
P4,525,000
*Note to Instructor: The reclassification amount would total P25,000 if USLS’s policy is to release the restrictions over the life of the assets rather than when placed into operation. Problem V (1) Closing entries: Each asset class is closed separately.
Revenues—Tuition and Fees ...................................................... 1,500,000 Revenues—Government Appropriations ................................ 800,000 Revenues—Unrestricted Contributions .................................... 265,000 Revenues—Unrestricted Other Investment Income .............. 250,000 Reclassifications In—Unrestricted—Satisfaction of Program Restrictions ............................................................... 75,000 Reclassifications In—Unrestricted—Satisfaction of Plant Acquisition Restrictions........................................................... 250,000 Reclassifications In—Unrestricted—Expiration of Time Restrictions................................................................................ 50,000 Unrestricted Net Assets ............................................................ 305,000 Expenses—Research .............................................................. Expenses—Instruction ............................................................. Expenses—Academic Support............................................. Expenses—Student Services.................................................. Expenses—Instructional Support ..........................................
840,000 1,230,000 250,000 200,000 225,000
Expenses—Operation and Maintenance of Plant ........... Expenses—Student Aid ..........................................................
400,000 350,000
Revenues—Sales and Services of Auxiliary Enterprises500,000 Expenses—Auxiliary Enterprises............................................................................ Unrestricted Net Assets .......................................................
475,000 25,000
Revenues—Temporarily Restricted Contributions .................. Revenues—Temporarily Restricted Endowment Income ...................................................................................... Revenues—Temporarily Restricted Net Realized Gains on Endowment ........................................................................ Temporarily Restricted Net Assets .......................................... Reclassifications Out—Temporarily Restricted— Satisfaction of Program Restrictions ............................... Reclassifications Out—Temporarily Restricted— Expiration of Time Restrictions .......................................... Reclassifications Out—Temporarily Restricted— Satisfaction of Equipment Acquisition Restrictions ...... Revenues—Permanently Restricted Contributions............................................................................ Permanently Restricted Net Assets ............................... (2)
15,000 25,000 135,000 75,000 50,000 250,000
500,000
500,000
University of Cebu Statement of Activities For Year Ended December 31, 20x8 Unrestricted
Changes in net assets: Revenues and gains: Tuition and fees .................................................... P1,500,000 Contributions......................................................... 265,000 Government appropriations, grants, and contracts .......................................................... 800,000 Investment income on endowment ................ Net realized gains on endowment investments Other investment income ............................. 250,000 Sales and services of auxiliary enterprises ....... 500,000 Total revenues and gains .............................. P3,315,000 Net assets released from restrictions: Satisfaction of program restrictions ....................... P 75,000 Satisfaction of equipment acquisition restrictions Satisfaction of time restrictions ............................... 50,000 Total net assets released from restrictions ....... P 375,000 Total revenues and gains and other support Expenses:
200,000
Temporarily Permanently Restricted Restricted
P 200,000 15,000
P 240,000
P 500,000
25,000 P 500,000
Total
P1,500,000 965,000 800,000 15,000 250,000 500,000 P4,055,000
25,000
P (75,000) P 0 250,000 (250,000) 0 (50,000) 0 P(375,000) P 0 P3,690,000 P(135,000)P 500,000 P4,055,0
Research ..................................................................... Instruction ................................................................... Academic support.................................................... Student services......................................................... Institutional support................................................... Operation and maintenance of plant ................. Student aid ................................................................. Auxiliary enterprises................................................... Total expenses ...................................................... Increase (decrease) in net assets................ Net assets, January 1, 20x8........................................... Net assets, December 31, 20x8.................................. Problem VI
P 840,000 1,230,000 250,000 200,000 225,000 400,000 350,000 475,000 P3,970,000 P (280,000)
P 0 P 0 P(135,000) P 500,000
P 840,000 1,230,000 250,000 200,000 225,000 400,000 350,000 475,000 P3,970,000 P 85,000
675,000 P 395,000
975,000 P 840,000
4,150,000 P4,235,000
2,500,000 P3,000,000
University of Cebu Statement of Financial Position December 31, 20x8
Assets: Cash .............................................................................................................................. Accounts receivable ................................................................................................. Contributions receivable .......................................................................................... Inventory of supplies .................................................................................................. Student loans receivable .......................................................................................... Land, buildings, and equipment (net) ................................................................... Endowment investments........................................................................................... Total assets........................................................................................................ Liabilities: Accounts payable ..................................................................................................... Amounts held on behalf of others .......................................................................... Long-term debt........................................................................................................... U.S. government grants refundable ....................................................................... Total liabilities ................................................................................................... Net assets: Unrestricted ............................................................................................................. Temporarily restricted ............................................................................................ Permanently restricted........................................................................................... Total net assets .................................................................................................
395,000 840,000 3,000,000 P4,235,000
Total liabilities and net assets ..........................................................................................
P5,365,000
P
255,000 625,000 85,000 75,000 300,000 1,000,000 3,025,000 P5,365,000
P
220,000 250,000 560,000 100,000 P1,130,000
P
Problem VII (1) Patient service revenues include charges to patients for routine services, nursing services, and professional services. Other operating revenues include revenues from services other than health care provided to patients as well as from sales and services to persons other than patients. Nonoperating revenues are primarily from gifts, grants, and investment income and gains that are peripheral or incidental to the major operation of the hospital. (2)
a. OO
d. PS
g. OO
j.
PS
b. N c. PS
e. N f. N
h. PS i. OO
k.
N
Problem VIII (1) Accounts Receivable ................................................................................ Patient Service Revenues................................................................... To record billings.
1,010,000
(2) Inventory....................................................................................................... Other Operating Revenues—Unrestricted (contributions) .......... To record donation of drugs from doctor.
12,000
(3) Cash .............................................................................................................. Other Operating Revenues—Unrestricted...................................... To record cash revenues.
28,800
(4) Charity Services........................................................................................... Accounts Receivable ......................................................................... To record charity allowance.
13,000
(5) Contractual Adjustments .......................................................................... Accounts Receivable ......................................................................... To record adjustments for Medicare charges.
68,000
(6) Provision for Bad Debts .............................................................................. Allowance for Uncollectible Receivables ....................................... To record increase in allowance.
26,000
Problem IX (1) Accounts Receivable ................................................................................ Revenues ...............................................................................................
8,500,000
Contractual Adjustments .......................................................................... Allowance for Contractual Adjustments.........................................
3,700,000
Cash .............................................................................................................. Contractual Adjustments .......................................................................... Allowance for Contractual Adjustments ............................................... Accounts Receivable .........................................................................
4,460,000 340,000 3,700,000
Cash .............................................................................................................. Contractual Adjustments ...................................................................
250,000
Contractual Adjustments .......................................................................... Cash .......................................................................................................
90,000
1,010,000
12,000
28,800
13,000
68,000
26,000
8,500,000 3,700,000
8,500,000 250,000 90,000
(2) Net patient service revenues = P4,620,000 (P8,500,000 – P3,700,000 – P340,000 + P250,000 – P90,000) (3) Net cash flow from transactions with Medicare = P4,620,000 (P4,460,000 + P250,000 – P90,000)
(4) Assuming the P90,000 payment back to Medicare was in settlement, the revenue account will be closed along with the contra-revenue account “Contractual Adjustments.” The net amount will appear on the financial statements. Problem X
Pure Air Rehabilitation Hospital Statement of Activities For Period Ended December 31, 20x9
Patient service revenues (net of $26,000 contractual adjustments) .................................... Other operating revenues: Seminar income .................................................... Child day care income........................................ Parking fees ............................................................ Total other operating revenue ...................... Total operating revenues..........................................
Unrestricted
Temporarily Restricted
Permanently Restricted
Total
P 714,000
P 714,000
P 23,000 15,000 4,500 P 42,500 P 756,500
P
Operating expenses: Nursing services ..................................................... Professional fees .................................................... General and administrative ................................ Depreciation expense ......................................... Interest expense .................................................... Repairs and maintenance .................................. Provision for uncollectibles .................................. Total operating expenses ...............................
P 230,000 340,000 150,000 90,000 13,000 110,000 14,000 P 947,000
P 230,000 340,000 150,000 90,000 13,000 110,000 14,000 P 947,000
Loss from operations ..................................................
P(190,500)
P (190,500)
Nonoperating revenue: Interest income...................................................... Contributions .......................................................... Endowment income ............................................. Gains on sale of endowments............................ Total nonoperating revenue.......................... Change in net assets ................................................. Net assets, January 1, 20X9 ...................................... Net assets, December 31, 20X9 ...............................
P
3,000
P
3,000
P(187,500) 800,000 P 612,500
23,000 15,000 4,500 P 42,500 P 756,500
P 18,000 120,000 56,000 P194,000 P194,000 755,000 P949,000
P 0 0
3,000 18,000 120,000 56,000 P 197,000
0 750,000 P750,000
P 6,500 2,305,000 P2,311,500
P P P
Problem XI Requirement: 1. Prepare statement of activities for the year ended June 30, 20x8. 2. Prepare statement of financial position as of June 30, 20x8 (1)
Adventist Hospital Statement of Activities For Year Ended June 30, 20x8 Unrestricted
TemporarilyPermanently Restricted Restricted
Total
Public support and revenue: Public support: Contributions ............................................................... P300,000 Annual auction proceeds (net of P11,000 expense) 31,000 Total public support ................................................ P331,000 Revenues: Membership dues....................................................... Program service fees ................................................. Investment income .................................................... Endowment income .................................................. Total revenue ........................................................... Net assets released from restrictions: Satisfaction of program restrictions ............................ Total public support, revenue, and other support...... Expenses: Program services: Blind children ............................................................... Deaf children............................................................... Supporting services: Management and general ...................................... Fund raising.................................................................. Total expenses ................................................................... Change in net assets ........................................................ Net assets, July 1, 20x7...................................................... Net assets, June 30, 20x8 .................................................
P 25,000 30,000 10,000
P15,000 P15,000
P
0
P315,000 31,000 P346,000
P 65,000
P20,000 P20,000
P
0
P 25,000 30,000 10,000 20,000 P 85,000
P 5,000 P401,000
P (5,000) P30,000
P
0
P 0 P431,000
P150,000 120,000
P150,000 120,000
51,000* 9,000 P330,000 P 71,000 38,000 P109,000
51,000 9,000 P330,000 P101,000 291,000 P392,000
P 0 P30,000 3,000 P33,000
P 0 P 0 250,000 P250,000
*P49,000 + P2,000 provision for uncollectible pledges (2)
Adventist Hospital Statement of Financial Position June 30, 20x8 Assets: Cash ....................................................................................................................... Pledges receivable (net of P3,000 allowance) ............................................. Bequest receivable ............................................................................................. Accrued interest receivable ............................................................................. Long-term investments ....................................................................................... Endowment investments .................................................................................... Total assets ..................................................................................................... Liabilities: Accounts payable and accrued expenses ................................................... Refundable deposits ........................................................................................... Total liabilities ................................................................................................. Net assets: Unrestricted........................................................................................................... Temporarily restricted ......................................................................................... Permanently restricted .......................................................................................
P 40,000 9,000 5,000 1,000 140,000 250,000 P445,000 P 51,000 2,000 P 53,000 P109,000 33,000 250,000
Total net assets ..............................................................................................
P392,000
Total liabilities and net assets ...................................................................................
P445,000
Multiple Choice Problems 1. c 21. a 41. c 2. a 22. a 42. d 3. c 23. d 43. a 4. a 24. a 44. b 5. b 25. c 45. d 6. a 26. d 46. c 7. c 27. b 47. c 8. d 28. d 48. b 9. c 29. a 49. c 10. d 30. c 50. c 11. b 31. a 51. d 12. a 32. b 52. c 13. b 33. b 53. c 14. c 34. b 54. b 15 b 35 c 55 a 16. d 36. a 56. d 17. b 37. d 57. c 18. b 38. a 58. c 19. c 39. b 59. b 20. d 40. a 60. a
61. 62. 63. 64. 65. 66. 67. 68. 69. 70. 71. 72. 73. 74. 75 76. 77. 78. 79. 80.
b c d b a c b c d c b c b a b a b c c a
81. 82. 83. 84. 85. 86. 87. 88. 89. 90. 91. 92. 93. 94. 95 96. 97. 98. 99. 100.
a a b a b d b a d b a a c d d d a c b b
101. 102. 103. 104. 105. 106. 107. 108. 109. 110. 111. 112. 113. 114. 115. 116. 117. 118. 119. 120.
d a b d b a a b d a b c d b c c c b d d
121. 122. 123. 124. 125. 126. 127. 128. 129. 130. 131. 132. 133. 134. 135. 136. 137. 138. 139. 140.
c a c c c c c a c b b c b a d a c d b b
141. 142. 143. 144. 145. 146. 147. 148. 149. 150. 151. 152. 153. 154. 155. 156. 157. 158. 159. 160.
c b d a d c b c a c d e d b d b b c b a
161. 162. 163. 164. 165. 166. 167. 168. 169. 170. 171. 172. 173. 174. 175. 176. 177. 178.
c d d a a c e a a b d c d c c d b c
7. c – P210 x 4 = P840 8. d – term endowment 59. b (Permanently restricted net assets have increased by only P120,000.) 60. 61. b (The financial aid is shown as a direct reduction to the tuition revenue so that revenues and support should total only P780,000.) 68. c (Amounts charged to patients less contractual adjustments) 69. d (The charity care work should not be recorded in any way because there is no expectation of collection. The contractual adjustment is reported as a contra balance to the revenue.) 95. d (These services do not meet the criteria for donated services that are recognized.) 155. b (The charity must convey the donation to the designated beneficiary. Unless the charity was given varied powers that allowed it to change the beneficiary, this amount 163. d (If the other information that is included contains a call for a specific action that will help accomplish the mission of the charity and if the mailing is not directed solely to potential donors, a portion of the costs can be allocated to program service expenses.) 164. a (Because of the time restriction, the amount spent for playground equipment remains in temporarily restricted net assets until depreciated. The equipment was bought at the end of the year so that no depreciation was recorded and no reclassification was made.)
Quiz-XXII 1. c 2. d 3. b 4. e 5. c 6. e 7. c 8. c 9. b 10. d 11. d 12. a 13. d
21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33.
b d a d c a a c d b d c d
41. 42. 43. 44. 45. 46. 47. 48.
a b b a c c a b
14. 15 16. 17. 18. 19. 20.
d b d a e c b
34. 35 36. 37. 38. 39. 40.
a c a a d b d
Theories
Completion Statements 1. unconditional 2. nonreciprocal 3. unconditional 4. when received 5. conditional 6. fair value 7. market quotations, appraisals, present-value calculations 8. nonfinancial assets, specialized skills 9. fair value, asset or asset enhancement 10. collection items 11. selectively 12. unrestricted, temporarily restricted, permanently restricted 13. endowments 14. temporarily restricted 15. temporarily restricted 16. temporarily restricted, unrestricted, donor-imposed stipulations, accounting policy, explicit donor instructions 17. expire 18. whole 19. donor-imposed restrictions, donor-imposed restrictions 20. total assets, total liabilities, total net assets (equity) 21. unrestricted, temporarily restricted, permanently restricted 22. board-designated, unrestricted 23. category 24. unrestricted 25. separately 26. natural, matrix 27. gross 28. columnar, layered 29. change 30. direct, indirect 31. permits True or False Statements 32. True 43. True 33. False 44. False 34. False 45. False 35. True 46. False
54. 55. 56. 57.
True False True False
65. 66. 67. 68.
True False False True
36. 37. 38. 39. 40. 41. 42.
True False False True True True False
47. 48. 49. 50. 51. 52. 53,
False False True False True False False
Multiple Choice Theories 74. a 84. a 75. c 85. d 76. b 86. c 77. b 87. e 78. e 88. e 79. e 89. d 80. e 90. c 81. e 91. d 82. d 92. d 83. a 93. c *contribution revenue **incomplete data Note for Nos.:
94. 95. 96. 97. 98. 99. 100. 101. 102. 103.
58. 59. 60. 61. 62. 63. 64.
False False True True True True True
e a b b d d d a b a
104. 105. 106. 107. 108. 109. 110. 111. 112. 113.
69. 70. 71. 72. 73.
a b d c b b a b b d
114. 115. 116. 117. 118. 119. 120. 121. 122. 123.
True True False False False
c b b b d * d b d e
124. 125. 126. 127. 128. 129. 130. 131. 132. 133.
b d b c a d d d d b
134. 135. 136. 137. 138. 139. 140. 141. 142. 143.
d c c b d b b c b c
144. 145. 146. 147. 148. 149. 150. 151. 152.
c c a ** c a b b c
148. (The work of the librarian does not enhance a nonfinancial asset nor does it require a specialized skill that would be purchased if not donated.) 149. (The FASB wanted to get away from fund accounting and provide information about the private not-for-profit organization as a whole.)
