Can you help me complete this Not For Profit Accounting homework set? I have removed some of the questions because I already have their answers. Please do not take the question unless you know this topic very well

The Wild Animal Care Society (WACS) is a private non-profit that takes cares of sick or injured wild animals and also displays the animals for public viewing and education. The Society receives the following donations during the fiscal year ended Dec. 31, 2014. For each case, determine the amount, if any, of contribution revenue that should be recognized by the Society, and if it is unrestricted (UR), temporarily restricted (TR), or permanently restricted (PR). One transaction may generate more than one class of net assets. If not applicable, put N/A. a. Transaction $20,000 in pledges are received in response to a phonathon conducted by volunteers. b. 3,000 hours of volunteer services are received from retirees who drive tram vehicles or serve as guides, valued at $5 an hour for such services. c. 1,000 hours of volunteer services are received from veterinary clinics valued at $50,000. d. $1,000,000 from a black-tie dinner (called \"Zoo Ball\") that cost $100,000. This will raise a major portion of WACS annual revenue. e. A supportive local butcher cancels a $10,000 invoice for meat for the animals. The trade of butchering is considered to be a professional trade. f. A pledge to pay $20,000,000 is received for animal exhibits if the Society can get the city government to donate 5 acres of land on which to construct the exhibits. g. Refer to letter f above. The city government does indeed donate the 5 acres of land valued at $5,000,000 and requires that it be used to construct animal exhibits and cannot ever be sold or transferred without permission of the city. The $20 million pledge is received (letter f). $$ Amount of Contribution Revenue to be Recorded If recorded, is it UR, TR, PR, or N/A? II. TRUE OR FALSE. Please highlight or bold the appropriate letter T or F. 1. T F Because Blue Mtn. Credit Union is considered to be a tax-exempt NFP organization, you can donate money to the credit union and deduct it as a charitable contribution on your tax return. 2. T F GAAP for all NFPs is the same, regardless of whether they are governmental or nongovernmental. 3. T F All NFP organizations must use fund accounting, according to GAAP. 4. T F A NFP organization's balance sheet can also be called a Statement of Changes in Net Assets. 5. T F In order to show liquidity of assets and maturity of liabilities, NFP organizations must classify assets and liabilities as current and non-current. 6. T F A \"restriction\" cannot be made internally by a NFP but can only be made by an external thirdparty donor. 7. T F A NFP museum can choose whether to capitalize and depreciate its collections and works of art. 8. T F Contributions to be collected in future years should be recorded at discounted present values. 9. T F Richard Rich makes a written promise to give his stash of gold to Andrews University (worth $1 million today) when gold prices reach $2,000 per ounce. Andrews University should book this promise today by increasing contribution receivable and contribution revenue (net of any uncollectible amounts). 10. T 11. 12. 13. T T T 14. T 15. 16. T T 17. 18. T T 19. T 20. T 21. 22. T T 23. 24. T T 25. T 26. T 27. T 28. T 29. 30. 31. T T T 32. T 33. T 34. T 35. T 36. T 37. T 38. T 39. T F As part of a pledge drive, Peter Poorly promises over the telephone to give $10 to Andrews University within a month. Peter follows up by completing an online pledge form. Andrews University should book this promise today by increasing contribution receivable and contribution revenue (net of any estimated uncollectible amounts). F All NFPs must show expenses by functional classification as well as by natural classification. F A hospital is subject to UBIT from the income earned in its cafeteria and gift store. F Because of their aggressive collection techniques, most hospitals today are able to collect at least 80% of their gross patient billings. F A broke, homeless drifter gets hit one night by a train when he is sleep-walking. The amount of hospital charges not covered by Medicaid should be charged to Bad Debt Expense. F Most hospitals are for-profit, and therefore can pay their executives high compensation packages. F A patron sends an email to the Metropolitan Opera Society promising to donate $1,000 to be used for general operations. Because this is an email pledge, the MOS will not record any contribution revenue until the pledge is actually received in cash. F A conditional contribution should be recorded as revenue under the accrual basis of accounting. F At a university, the allowance for estimated uncollectible amounts (as a percent of receivables) would likely be larger for donor pledges than for other types of receivable. F A donor who gives appreciated assets (real estate, stocks, etc.) to the Christian Aid Center should first sell the assets and then give the cash, in order to simplify the transactions for the CAC. F All tax-exempt organizations are required to make their three most recent Forms 990 available for public inspection, including churches and other religious organizations. F Net operating revenue at a state university should always be a negative figure. F A church pastor can endorse Bernie Sanders for president from the pulpit or in the church newsletter without violating tax-exempt rules because the purpose of a pastor is to disseminate religious information and publicly express religious convictions. F NFP endowments typically spend all of their total return every year to support operations. F Suppose the Andrews University Chapter of Engineers Without Borders (EWB), a NFP organization, held a fund-raising gala that raised 80% of its annual contribution revenue. If the 100 attendees paid $100 each to attend, and the dinner cost EWB $25 a head, then EWB should report on its Statement of Activities a single line that says \"Net fund-raising income from this special event, $7500.\" F The Joint Commission is the organization that evaluates accreditation for colleges and universities. F The New Era Philanthropic Foundation is currently one of the most popular places for small nonprofits to safely invest their endowment money at a decent return, which is a real \"blessing from God.\" F A $100,000 cash gift to Andrews University endowment should show up in the financing section on WWU's statement of cash flows. F HMOs are usually more flexible than PPOs in terms of the type of care provided and who provides it. F When restricted funds are spent, they are shown as expenses in the temporarily restricted column. F A university's unrestricted current fund is similar to a city's special revenue fund. F Hospitals benefited from the government's creation of DRGs because this led to the cost-plus reimbursement system we have today. F Andrews University may elect to follow the FASB standards if they don't materially conflict with the GASB standards. F A school can only be considered \"public\" if all of the following are true: the school's officers are publicly elected or appointed by the government, the government can unilaterally dissolve the school, and the school can levy taxes and issue tax-exempt bonds. F At the beginning of each quarter, WWU should record student account receivable and tuition revenue for the entire quarter's tuition. F A men's student residence hall and a university-owned dairy (which primarily serves the public) should both be classified as auxiliary enterprises on a university's financial statements. F The costs of running Positive Life Radio (Andrews University -owned Christian radio station) should be classified as a Public Service function on Andrews University's Statement of Activities because its primary purpose is to serve the public. F If Andrews University's intercollegiate athletics program were totally self-funded, it should be classified as an auxiliary enterprise on WWU's financial statements. F At a college or university, the salaries of both the VP for Academic Affairs and the VP for Student Life should be classified as Institutional Support. F When Andrews University receives an appropriation from the state, it should show it as operating revenue (because it subsidizes tuition, which is considered operating revenue). 40. T 41. T 42. T 43. T 44. 45. T T 46. T 47. T 48. T 49. T 50. T 51. T 52. T F If corner gas/convenience store were to have taxable income of any amount (e.g. $500), Andrews University would have to file a Form 990-T tax return and pay UBIT. F An unethical controller at Andrews University who is attempting to minimize UBIT would want to allocate a large amount of overhead (e.g. security personnel costs) to The Express. F Unlike most charities and religious organizations, colleges/universities are not considered to be 501(c)(3) organizations. F If you donated $1,000 to a 501(c)(21) organization, you would be able to deduct the gift as an itemized deduction on your federal income return. F All expenses in a non-governmental, nonprofit organization should be classified as unrestricted. F HIPA (which stands for Health Information Protection Act) was passed by Congress for the sole purpose of ensuring that sensitive patient information (such as the identity of AIDS patients) was kept strictly confidential. F Hospitals generally rely more heavily on donations to keep afloat than do college and universities. F Harvard's endowment is so big that it if it earned 10%, it would generate more income per student than tuition and fees. F NFP organizations should depreciate all exhaustible property and equipment, even if the assets were donated and therefore cost the organization nothing. F Under UPMIFA, when endowment assets lose value, temporarily restricted net assets are reduced first, followed by unrestricted net assets. F Both private and public universities must show an operating measure (i.e. net increase from operations) in their Statements of Activities. F A nonprofit incurs more risk entering a life income agreement with a donor than entering a charitable gift annuity agreement. F A NFP that generates huge profits (e.g. Stanford Medical Center) should be considered very successful at achieving its mission. III. MATCHING Place the appropriate letter on each line below. The letters represent different functional expense areas reported by a college/university such as Andrews University. One function can be used twice. Not all functions have to be used. I - Instruction R - Research PS- Public Service SS - Student Services AS - Academic Support IS - Institutional Support OMP - Operation & Maintenance of Plant SF - Scholarships & Fellowships AE - Auxiliary Enterprises IO - Independent Operations _____1. Accountant's salary _____7. Matthew Garrett's salary (VP for Student Affairs) _____2. sponsored concert (student association) _____8. Library operations _____3. Accounting teacher's huge salary _____9. Janitorial Services _____4. Dillard Hall activities (women's dormitory) _____5. Career Center _____10. Videos purchased by School of Business for classroom use _____6. University Bookstore _____11. Campus Security IV. MULTIPLE CHOICE. Complete the questions below by highlighting or bolding the correct answer. 1. An actress states at the Oscar awards ceremony that she will donate $1,000,000 to her alma mater if she wins the Oscar. Based on this oral pledge, the alma mater should record a. Contribution Revenue - Unrestricted c. Contribution Revenue - Permanently Restricted b. Contribution Revenue- Temporarily Restricted d. Nothing 2. A donor promises the local Cancer Society that he will give them $10,000 in eleven months. This $10,000 promise is a(n) a. conditional contribution c. temporarily restricted contribution b. unrestricted contribution d. promise to give to disclose in a footnote 3. During the year, a CPA provides 100 hours of free audit service to a local museum that is valued at $150 an hour. The CPA also spends 100 hours on weekends cleaning the museum grounds, valued at $10 per hour. The museum should record contribution revenue of a. $15,000 c. $16,000 b. $1,000 d. none of the above 4. The Statement of Functional Expenses (which divides naturally-classified expenses by function) is required for a. art museums c. voluntary health and welfare organizations b. r religious organizations d. all not-for-profit organizations 5. A hospital activity that is subject to the Unrelated Business Income Tax would be a. sale of pharmaceuticals to patients c. a visitor parking lot that charges fees b. sale of pharmaceuticals to the public d. a cafeteria for patients, visitors, and employees 6. Other operating revenue of a health care organization includes a. sale of pharmaceuticals c. investment income b. gift shop revenue d. all of the above 7. Charity care is a. provided to a patient unwilling to pay b. a the same as bad debt expense c. d. provided to a patient unable to pay all of the above 8. A public university bills $80,000,000 in tuition and fees and provides $23,000,000 in financial aid. Of this $23 million, the university pays $1,000,000 directly in cash to students who can use it for whatever purpose they want. What amount will the university report as net tuition and fee revenue? a. $80,000,000 c. $58,000,000 b. $79,000,000 d. $57,000,000 9. Andrews University, with fiscal year end June 30, offers summer courses which bridge two fiscal years. The university must a. record all of the revenue in the first fiscal year c. record all of the revenue in the next fiscal year b. allocate the revenue between the two fiscal years d. record half in one fiscal year and half in the on the accrual basis next fiscal year 10. A hospital would show Contractual Adjustments from insurance companies and Medicare Adjustments as a) b) c) d) A non-operating gain A liability A deduction from revenues (contra-revenue) An expense 11. Which of the following hospital volunteers would cause both an income and expense to be recorded? a) Volunteers in the gift shop who work a few hours a day stocking shelves. b) Candy stripers (volunteers who run errands and help visitors find their destinations, etc.) c) Community members who plant flowers on the grounds once a year in the spring. d) A doctor donates time to help with public health screenings for diabetes and heart disease. 12. Investments in equity securities that have a readily determinable market value and all debt securities of a nongovernmental nonprofit organization are reported on the balance sheet at a) Lower of cost or market. b) Fair value. c) Cost. d) Amortized cost 13. Which of the following would not be considered a health care organization? a) A medical clinic. b) An independent living retirement center. c) An assisted living retirement center (nursing home). d) A hospital 15. Colleges and universities record tuition and fee revenue in the a. Restricted current fund c. General fund b. Restricted operating fund d. Unrestricted current fund 16. A contribution is conditional if the donor specifies a. a remote event that might prevent the c. contribution from occurring b. a future or uncertain event that must occur d. before the contribution is made the contribution is paid upon death the contribution is to be paid at a future time 17. A member of the Bird-Watchers Society notifies the organization that he will contribute $2,000 when he sees a live Ivory-billed Woodpecker on his bird-watching expedition. The Bird-Watchers Society will record a. Contribution Revenue - Temp. Restricted c. Contribution Revenue - Unrestricted b. Contribution Revenue - Perm. Restricted d. nothing because it is conditional 19. A donor promises to give $50,000 cash to the Andrews University Physics Department to be used as scholarships for physics majors. The university will record a. Contribution Revenue - Unrestricted c. Contribution Revenue - Permanently Restricted b. Contribution Revenue - Temp. Restricted d. nothing 20. In its fund-raising drive, the Humane Society received total pledges of $55,000; it also contacted other possible donors who were still considering whether to make pledges of $8,000. What amount of contribution revenue should be recorded? a. $55,000 c. $8,000 b. $63,000 d. Zero 21. A woman cleans out her attic and takes her 33-year old clothes to the local Goodwill store. Goodwill workers sort the clothes and determine they cannot be used or sold. Goodwill should record a. a loss equal to amount of the dumping fee c. Nothing b. a $50 unrestricted contribution d. a $50 unrestricted contribution net of the dumping fee 22. Supporting services to a charity would include a. fund-raising activities b. program activities c. d. management and general activities both a and c 23. The basic required financial statements for the American Red Cross include a. Statement of Cash Flows c. Statement of Budget to Actual b. Statement of Functional Expenses d. Both a and b 24. A university has tuition and fee revenue of $20,000,000 for the summer semester that bridges two fiscal years. Sixty percent of the instruction takes place in the next fiscal year and the university decides to allocate the revenue on that basis. The journal entry to record this transaction in the current fiscal year will include a. $12,000,000 in deferred revenue c. $12,000,000 in revenue b. $20,000,000 in revenue d. $8,000,000 in deferred revenue 25. Some shares of common stock were donated to WWU. The gift should be recorded as contribution revenue at a) the par value of the stock. b) the fair market value at the date of the gift, or the donor's cost basis, whichever is lower. c) the fair market value at the date of the gift, or the donor's cost basis, whichever is higher. d) the fair market value at the date of the gift. e) zero value, since this is a conditional gift