Big Mountain Home (Home) is a seniors' residence operated as a not-for-profit organization. During 2019, Home built a new bingo hall on Home's property at a cost of $1,200,000. The bingo hall was financed with $600,000 of donations from private individuals and a $600,000 grant from the provincial government. In addition, a $50,000 donation was received to specifically cover the cost of future maintenance of the bingo hall. The bingo hall commenced operations on September 1, 2019, and in the last four months of the year, $15,000 was spent on the hall's maintenance. The estimated useful life of the bingo hall is 40 years. Home amortizes its capital assets using the straight-line method. Amongst other things, Home has an excellent reputation for its bingo nights even though most of the callers and runners used are unpaid volunteers.

Required: a) Based on the information provided, prepare a partial balance sheet to capture all activities related to the bingo hall, assuming Home uses the deferral method and does not have a separate capital fund for the bingo hall. b) Based on the information provided, prepare a partial statement of revenues and expenses to capture all activities related to the bingo hall, assuming Home uses the restricted fund method and has a separate capital fund to record the contributions for the construction and maintenance of the bingo hall. c) Identify the conditions that must be met in order to recognize the value of volunteers' time in the financial statements of a not-for-profit organization. d) Prepare the journal entry that would be made in the general fund if volunteers' services were to be recorded at a value of $10,000.