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PLEASE PROVIDE ANSWER NO MISSING DATA a. Unrestricted contributions are pledged in the amount of $500,000. b. Purchase of material and supplies totaling $100,000 of
PLEASE PROVIDE ANSWER NO MISSING DATA
a. Unrestricted contributions are pledged in the amount of $500,000. b. Purchase of material and supplies totaling $100,000 of which $25,000 is not yet paid. c. Endowment income of $8,000 is restricted to student aid activities. d. A federal grant for $200,000 was awarded for research. e. Materials and supplies used were as follows: Student services $10,000, Auxiliary enterprise $25,000 f. Federal government monies of $50,000 restricted for student loans are received. g. Expenses for the research project in d. totaled $100,000 to date. h. Term endowments expire, making $10,000 cash available. i. Cash of $10,000 from Life Income Fund Investments is received. j. Stock with a market value of $45,000 is received from an art patron to finance art gallery improvements. k. Federal grants for student awards through the Pell Grant program are received in the amount of $175,000. 1. Bills went out for dormitory fees of which $250,000 is paid and $50,000 is still not received. m. Payment of $100,000 is made on the mortgage. n. Depreciation on all assets total $125,000. Of this depreciation charge, $25,000 represents depreciation on assets classified as donor restricted. Chase Private University elects to release donor restrictions when assets are placed in service. 0. Art gallery improvements of $25,000 were made with donor - restricted contributions. Required: Assuming that fund accounting is used, record the events. Identify the appropriate fund for each transaction
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