Indicate how the following contributed service would be recorded by a private, non-profit organization:

A member of a local CPA firm hands out pamphlets for the local senior center describing changes in the local tax laws. The pamphlets were provided by the local government.

The contribution is not recorded.

The contribution is recorded as revenue with an equal amount recorded as expense.

The contribution is recorded as revenue with an equal amount recorded as other financing uses.

The contribution is recorded as an asset with an equal amount recorded as expense.

The contribution is recorded as an asset with an equal amount recorded as contribution revenue.

Indicate how the following contributed service would be recorded by a private, non-profit organization:

A carpenter helps a youth organization tear down a small shed in order to make space for a playground.

The contribution is not recorded.

The contribution is recorded as revenue with an equal amount recorded as expense.

The contribution is recorded as revenue with an equal amount recorded as other financing uses.

The contribution is recorded as an asset with an equal amount recorded as expense.

The contribution is recorded as an asset with an equal amount recorded as contribution revenue.

Indicate how the following contributed service would be recorded by a private, non-profit organization:

A member of the accounting faculty at the local university (specializing in taxes) donates his time to teach senior citizens how to fill out their tax returns. Last year the senior center hired a CPA for the program.

The contribution is not recorded.

The contribution is recorded as revenue with an equal amount recorded as expense.

The contribution is recorded as revenue with an equal amount recorded as other financing uses.

The contribution is recorded as an asset with an equal amount recorded as expense.

The contribution is recorded as an asset with an equal amount recorded as contribution revenue.

Indicate how the following contributed service would be recorded by a private, non-profit organization:

Several members of a local carpenters union donated their time to building a new stage for the local theatre group.

The contribution is not recorded.

The contribution is recorded as revenue with an equal amount recorded as expense.

The contribution is recorded as revenue with an equal amount recorded as other financing uses.

The contribution is recorded as an asset with an equal amount recorded as expense.

The contribution is recorded as an asset with an equal amount recorded as contribution revenue.

Indicate how the following contributed service would be recorded by a private, non-profit organization:

A retired school teacher donated his time to coach a basketball team sponsored by a youth drug rehabilitation center. The volunteer never coached before, but he played one year in high school.

The contribution is not recorded.

The contribution is recorded as revenue with an equal amount recorded as expense.

The contribution is recorded as revenue with an equal amount recorded as other financing uses.

The contribution is recorded as an asset with an equal amount recorded as expense.

The contribution is recorded as an asset with an equal amount recorded as contribution revenue.