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please help me explain and answer these questions. Thank you so much! QUESTION 2: ACCOUNTING FOR NOT-FOR-PROFITS (TOTAL: 10 MARKS) 1. Abby Hatcher runs Fuzzly

please help me explain and answer these questions. Thank you so much!

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QUESTION 2: ACCOUNTING FOR NOT-FOR-PROFITS (TOTAL: 10 MARKS) 1. Abby Hatcher runs Fuzzly Catcher a registered tier 4 charity (i.e. the operating payments are less than $125,000) that cares for abandoned pets. She is the sole volunteer, and currently the only material donor. Explain whether you think the benefits of providing a statement of service performance outweighs the costs. (5 marks) Type in your answer here 2. Abby Hatcher's occupation is an artist, and her pieces of work usually sell for $500. To raise funds for Euzzly Catcher she has donated 10 pieces of work which were successfully auctioned off with an average sales price of $560 cash during the current year. Record the appropriate journal entries for the donation and the sale of the art. (5 marks) Account Debit Credit Type in any workings or justifications to the journal entries here

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