ACCOUNTING FOR GOVERNMENTAL AND NONPROFIT ORGANIZATIONS

Which of the following organizations would be required to follow the standards developed by the FASB for not for profit organizations? Select one: O a. Rust County Hospital. O b. Chartreuse City Community Center O c Turquoise Condominium Owners Association Od. Slate Valley State University. Revenue from educational programs at a hospital would normally be included in Select one: O a. Nonoperating gains and losses. O b. Other revenue (gains). C. Nonoperating revenue O d. Net patient service revenue. Which of the following general journal entries would be made for the temporarily restricted net assets class with a program restriction when the cash is expended in a subsequent time period? GENERAL JOURNAL Explanation Debit Credit Reclassifications-Satisfaction of Program Restrictions-Temporarily Restricted xXxx Reclassifications-Satisfaction of Program Restrictions-Unrestricted xocx (b) Operating Expense Cash Redlassifications-Satisfaction of Program Restrictions-Temporarily Restricted xXx Cash (d) Cash Reclassifications-Satisfaction of Program Restrictions-Unrestricted Select one: a (c) O b. (d) Od. (b)