A group of civic-minded merchants in Eldora organized the Committee of 100 for establishing the Community Sports Club, a not-for-profit sports organization for local youth. Each of the committees 100 members contributed $1,000 toward the clubs capital and, in turn, received a participation certificate. In addition, each participant agreed to pay dues of $200 a year for the clubs operations. All dues have been collected in full by the end of each fiscal year ending March 31. Members who have discontinued their participation have been replaced by an equal number of new members through transfer of the participation certificates from the former members to the new ones. Following is the clubs trial balance for April 1, 20X2:

		Debit				Credit
Cash		$	9,000
Investments (at market, equal to cost)			58,000
Inventories			5,000
Land			10,000
Building			164,000
Accumulated DepreciationBuilding						$	130,000
Furniture and Equipment			54,000
Accumulated DepreciationFurniture and Equipment							46,000
Accounts Payable							12,000
Participation Certificates (100 at $1,000 each)							100,000
Cumulative Excess of Revenue over Expenses							12,000
Total		$	300,000			$	300,000

Transactions for the year ended March 31, 20X3, follow:

Collections from participants for dues		$	20,000
Snack bar and soda fountain sales			28,000
Interest and dividends received			6,000
Additions to voucher register:
House expenses			17,000
Snack bar and soda fountain			26,000
General and administrative			11,000
Vouchers paid			55,000
Assessments for capital improvements not yet incurred (assessed on
March 20, 20X3; none collected by March 31, 20X3; deemed 100%
collectible during year ending March 31, 20X4)			10,000
Unrestricted bequest received			5,000

Adjustment Data:

1.	Investments are valued at market, which totaled $65,000 on March 31, 20X3. There were no investment transactions during the year.

2.	Depreciation for year:

Building		$	4,000
Furniture and equipment			8,000

3.	Allocation of depreciation:

House expenses		$	9,000
Snack bar and soda fountain			2,000
General and administrative			1,000

4.	Actual physical inventory on March 31, 20X3, was $1,000 and pertains to the snack bar and soda fountain.

Required:

a.

Record the transactions and adjustments in journal entry form for the year ended March 31, 20X3. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b.	Prepare the appropriate all-inclusive statement of activities for the year ended March 31, 20X3.

transaction list 1. Record the collections from participants for their annual dues 2. Record the snack bar and soda fountain revenue. 3. Record the investment in 4. Record the vouchers for the house, snack bar and soda fountain and general and administrative expenses 5. Record the vouchers paid 6. Record the entry for assessments for capital improvements not yet incurred or collected 7. Record the unrestricted bequest received