Sing Sing Singers (SSS) is a local opera company. As a nonprofit, it finances its activities through contributions and admissions fees. It accounts for its expenses through four major functions: regular events, special events, administration, and fundraising. For each function, it maintains three accounts by nature of expense: salaries, supplies and other, and occupancy. On July 1, the start of its fiscal year, SSS had cash on hand amounting to $13,200, of which $7,700 represented net assets without donor restrictions and $5,500 represented net assets with donor restrictions. The following transactions and events occurred during the year. Prepare journal entries to record these transactions; also, prepare a statement of activities and a statement of expenses by function and nature for the year ended June 30.

1. The $5,500 of net assets with donor restrictions resulted from a donation made during the previous year that could be used only during the current year. On July 1 of the current fiscal year the net assets became available for spending.

2. SSS held its annual fundraising dinner at a cost of $3,300 (use the expense account Supplies and other). As a result of the dinner, SSS received cash contributions of $11,000 and pledges totaling $44,000. Based on prior experience, SSS estimated it would collect 90 percent of the pledges.

3. SSS collected $40,700 in cash on the pledges received in Transaction 2 and wrote off the other pledges as uncollectible.

4. SSS trustees received the following cash donations:

a. $16,500 from T. Robbins, to be used solely for the purpose of a special presentation of The Marriage of Figaro at the Shawshank Correctional Center in Ossining.

b. $27,500 from the Chester County Council on the Arts, to be used for any purpose deemed appropriate by the trustees.

5. SSS performed The Marriage of Figaro at Shawshank, spending the entire $16,500 donation on salaries for the performers. Expenses were charged to the Special events function.

6. SSS collected $178,200 in admissions fees from its opera performances during the year. It also had the following expenses, which it paid in cash:

7. SSS received the benefit of the following donated services during the year:

a. G. Verdi, a lawyer, prepared contracts with the performers. Had Verdi charged for this work, the cost to SSS would have been $4,400.

b. W. A. Mozart, a carpenter, constructed sets for the regular events. Had Mozart charged for this work, the cost to SSS would have been $8,800.

c. Local bankers G. Donizetti and G. Puccini served as ushers for all performances. Had SSS paid for this work, the cost would have been $1,100.

Note: If no journal entry is necessary, use the account titles No entry required - debit and No entry required - credit with zero for the debit and credit amounts.

\begin{tabular}{|l|r|r|r|} \hline & Regular Events & Special Events & Administration \\ \hline Salaries & $165,000 & $16,500 & $13,200 \\ \hline Supplies and other & 33,000 & 3,300 & 1,100 \\ \hline Occupancy & 22,000 & 2,200 & \\ \hline Total & $220,000 & $22,000 & $14,300 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline Entry & Account & & Debit & Credit \\ \hline \multirow{3}{*}{1} & & v & 0 & 0 \\ \hline & & & 0 & 0 \\ \hline & To reclass the cash contribution & - & & \\ \hline \multirow[t]{10}{*}{2} & & & 0 & 0 \\ \hline & & & 0 & 0 \\ \hline & To recerd fundraising expense & & & \\ \hline & & v & 0 & 0 \\ \hline & & & 0 & 0 \\ \hline & To record fundraising contribution & & G. & \\ \hline & & v & 0 & 0 \\ \hline & & v & 0 & 0 \\ \hline & & & 0 & 0 \\ \hline & To resord pledge with allowance for nonreceipt & & & \\ \hline \multirow[t]{5}{*}{3} & & & 0 & 0 \\ \hline & & & 0 & 0 \\ \hline & & v & 0 & 0 \\ \hline & +3 & & 0 & 0 \\ \hline & To record the payment of the pledged contribution & & + & \\ \hline \multirow[t]{4}{*}{4} & & v & 0 & 0 \\ \hline & & v & 0 & 0 \\ \hline & & & 0 & 0 \\ \hline & To record cash donations & & & \\ \hline \multirow[t]{6}{*}{5} & & v & 0 & 0 \\ \hline & & v & 0 & 0 \\ \hline & To reclass the satisfaction of program restrictions & & & \\ \hline & & v & 0 & 0 \\ \hline & & v & 0 & 0 \\ \hline & To record the disbursement for salaries & 1 & & \\ \hline 6 & & v & 0 & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \begin{tabular}{r} Sing Sin \\ Statement \\ For the Fiscal Ye \end{tabular} & \begin{tabular}{l} g Singers \\ of Activities \\ ar Ended Jun \\ Without \\ Donor \\ Restrictions \end{tabular} & \begin{tabular}{l} With Donor \\ Restrictions \end{tabular} & Total & \\ \hline \multicolumn{5}{|l|}{ Revenues and Other Support: } \\ \hline Contributions & 0 & $ & $ & \\ \hline Donated services & 0 & 0 & & \\ \hline Admissions fees & 0 & 0 & & 0 \\ \hline \multicolumn{5}{|l|}{ Net assets released from restrictions: } \\ \hline Satisfaction of time restrictions & 0 & 0 & & 0 \\ \hline Satisfaction of program restrictions & 0 & 0 & & of \\ \hline Total revenues, gains and other support & 0 & 0 & & 0 \\ \hline \multicolumn{5}{|l|}{ Expenses: } \\ \hline Regular events & 0 & 0 & & 0 \\ \hline Special events & 0 & 0 & & 0 \\ \hline Administration & 0 & 0 & & 0 \\ \hline Fund-raising & 0 & 0 & & 0 \\ \hline Total expenses & 0 & 0 & & 0 \\ \hline Change in net assets & 0 & 0 & & 0 \\ \hline Net assets, beginning of year & 0 & 0 & & 0 \\ \hline Net assets, end of year & 0 & 0 & $ & 0 \\ \hline \end{tabular}