A: Prepare journal entries to record each of the following transactions occurring during the fiscal year ending June 30, 2010 assuming the organization follows the guidance of (A) SFAS #116 and #117 and (B) GASB Statements #34 or #35. For those organizations following FASB guidance, you should prepare entries under the assumption that property, plant, and equipment is considered to be unrestricted resources. B. Assume the organizations had equity balances as follows at the beginning of the year. Calculate the balance in each equity account for each NFP at the end fiscal year 2010, after all adjustments and closing entries have been made. NFP (under SGAS #34 or #35) NFP (Under SFAS #116 & #117) NA-ICA $5,000,000 NA-PR $4,000,000 NA-Rest (NonExpd) 4,000,000 NA-TR 6,000,000 NA-Rest (Expd) 4,500,000 NA-UR 8,000,000 NA-UR 7,500,000 Total Equity 18,000,000 Total Equity 21,000,000 1. Cash contributions were received as follows: (a) $1,000,000 for any purposes desired by the school, (b) $600,000 restricted by donors for research purposes, (c) 100,000 to be used during the next fiscal year in any manner the NFP sees fit. (d) 800,000 restricted by donors for the purchase of new equipment, and (e) $2,000,000 to be kept in perpetuity with half of all earnings to be spent for providing free meals to the elderly and half available for the NFP to spend as it sees fit