General Journal

For Year Ending December $31,2021$

$\backslash$table$[[$Ref#$,$Account $($Debit$)]]$

$\backslash$table$[[$Account $($Credit$),$DEBIT$]]$

CREDIT

The Scholarship for Hoosiers organization hosted its annual fundraiser and received $$680,000$ in contributions. Historically,

thev've collected $90\%$ of what is promised. Thev do NOT utilize the direct write off method.

Contributions Receivable

The Scholarship for Hoosiers organization received investments valued at $$325k$

Investment Income

Investment

b

An anonymous donor gave cash gifts of $$425k$ indicating that the gift should be used for recipients with GPA below $2\mathrm{.}5$ with

perfect attendance.

Contribution Revenue $-$ With Donor Restrictions

Scholarships for Hoosiers paid their employee salaries for the month in the amount of $$48,000$

A local CPA volunteered his time to audit the financial statements for the NFP$.$ It took him $38$ hours and his normal hourly fee

is $$250/$hour$.$

$f(1)$

Scholarships for Hoosiers awarded scholarships of $$100,000$ to students with perfect attendance and GPA below $2\mathrm{.}5$ and

scholarships of $$260,000$ to students with Perfect attendance above $2\mathrm{.}6.$ All of the scholarships were scheduled to be paid the

following year. Record the necessary entry.

$($

$f(2)$

Scholarships for Hoosiers awarded scholarships of $$100,000$ to students with perfect attendance and GPA below $2\mathrm{.}5$ and

scholarships of $$260,000$ to students with Perfect attendance above $2\mathrm{.}6.$ All of the scholarships were scheduled to be paid the

following year. Record the reclassification entry.

Scholarships from hoosiers received $$605,000$ of the contributions in item $($a$).$ They wrote off the balance.

Use these types of accounts:

Accounts Payable

Allowance for Uncollectible Accounts

Bad Debt Expense

Cash

Contribution Revenue $-$ With Donor Restrictions

Contributions Receivable

Contribution Revenue $-$Without Donor Restrictions

Deferred Revenue

Endowment

Gifts In Kind $-$ Donated Services

Gifts In Kind $-$Donated Material

Grant Revenue

Investment

Investment Income

Investment Income $-$ With Donor Restriction

Salary Expense

NAWDR$-$ Reclass Out

NAWODR $-$ Reclass in

Net Assets With Donor Restrictions

Net Assets Without Donor Restrictions

No Entry

Pledges Receivable

Program Expense $-$ Education

Program Expense $-$ Research

Program Expense $-$ Scholarships

Special Event Revenue

Supporting Expense $-$Fundraising

Supporting Expense$-$Administrative

Supporting Expense$-$Professional Services