高級會計學（第10版）習題答案 ch21-Beams10e-sm

Chapter21

ACCOUNTINGFORNOT-FOR.PROFITORGANIZATIONS

Questions

1Thefinancialstatementsrequiredfornongovernmentalnot-for-profitentitiesincludeastatementof

financialposition,astatementofactivities,andacashflowstatement.Voluntaryhealthandwelfare

organizationsalsoprovideastatementoffunctionalexpenses.

2Eachhospital,college,andvoluntaryhealthandwelfareorganization(andothernot-for-profit

organizationsaswell)mustbeevaluatedtodeterminewhetheritmeetsthedefinitionofagovernmentin

theauthoritativeliterature.Thosethatmeetthedefinitionofagovernmentmustapplythegovernment

GAAPhierarchy.GASBstandardsarethemostauthoritativeguidancefortheseentities.Allotherentities

aretoapplyFASBstandards.

3Aconditionalpromisetogivedependsontheoccurrenceofaspecifiedfutureanduncertaineventtobind

thepromisor.Anunconditionalpromisetogivedependsonlyonthepassageoftimeordemandbythe

promiseeforperformance.

Organizationsrecognizeconditionalpromisestogiveascontributionrevenueandreceivableswhenthe

conditionsaresubstantiallymet(inotherwords,whentheconditionalpromisetogivebecomes

unconditional);however,theyaccountforaconditionalgiftofcashorotherassetthatmayhavetobe

returnedtothedonoriftheconditionisnotmetasarefundableadvance(liability).Organizations

recognizeunconditionalpromisestogiveasrestrictedorunrestrictedcontributionrevenueandreceivables

intheperiodinwhichthepromiseisreceived.

4Adonor-imposedconditionprovidesthatthedonorwillhavehisresourcesreturned(orwillbereleased

fromthepromisetogive)iftheconditionisnotmet.Adonor-imposedrestrictiononlylimitsthepurposeor

timingofuseofthecontributedassets.

5Unconditionalpromisestogivewithpaymentsdueinthenextperiodarereportedasrestrictedsupport(net

ofanappropriateallowanceforuncollectibleaccounts)thatincreasetemponirilyrestrictednetassets,even

iftheresourcesarenotrestrictedforspecificpurposes.

6Whenatimerestrictionismet,temporarilyrestrictednetassetsarereclassifiedasunrestrictednetassets.

Theentryincludesadebittotemporarilyrestrictednetassets——reclassificationsoutandacreditto

unrestrictednetassets-reclassificationsin.(Differentaccounttitles,suchasamountsreleasedfrom

restrictions,arepermittedaswell.)

7Giftsinkindarereportedasunrestrictedsupportthatincreasesunrestrictednetassetsifthenot-for-profit

entityhasdiscretionoverthedispositionoftheresourcesandafairvaluecanbereasonablydetermined.If

fairvaluecannotbedetermined,theitemsarerecordedassalesrevenuewhentheyaresold.Ifthenot-for-

profitentityhaslittleornodiscretionoverdispositionoftheitems,thegiftsinkindshouldbeaccounted

forasagencytransactions.

8Programservicesofvoluntaryhealthandwelfareorganizationsareexpensesincurredinmeetingthesocial

serviceobjectivesoftheorganization.Examplesareresearch,publiceducation,communityservices,and

patientservices.Supportingservicesconsistoftheorganization'sadministrativeandfund-raisingcosts,and

expensesfortheseitemsaresoclassifiedinthestatementofactivities.

9Thestatementoffunctionalexpensesfbrvoluntaryhealthandwelfareorganizationsisintendedto

reconcilethefunctionalclassificationofexpenses(whichresultsinhighlyaggregateddata)withbasic

object-of-expenditureclassificationsthatarelessaggregatedandeasierfbrmanyuserstounderstand.

?2009PearsonEducation,Inc.publishingasPrenticeHall

21-1

10Contributedservicesarerecognizedonlyiftheservices(a)createorenhancenonfinancialassetsofthe

organizationor(b)requirespecializedskills,areprovidedbyindividualspossessingthoseskills,andwould

typicallyneedtobepurchasedifnotprovidedbydonation.

11Charitycareisexcludedfrombothgrosspatientservicerevenueandfromexpense.ThehospitaPspolicy

forprovidingcharitycareandthelevelofcharitycareprovidedaredisclosedinnotestothefinancial

statements.

12Netpatientservicerevenuesofhospitalsaremeasuredbydeductingcourtesyallowancesandcontractual

adjustmentsfromgrosspatientrevenues.Uncollectibleaccountsexpensesarenotdeductedincomputing

netpatientservicerevenues.Netpatientservicerevenuesarereportedinthestatementofactivities.

13Thethreemajorrevenuegroupingsusedbyhospitalsarepatientservicerevenues,otheroperatingrevenue,

andnonoperatinggains.Examplesare:

Patientservicerevenues-routinecare,emergencyroom,recoveryroom,pharmacy

Otheroperatingrevenues—tuitionfromeducationalprograms,researchgrantsforspecificpurposes,gift

shopsales

Nonoperatinggains-unrestrictedgifts,unrestrictedendowmentincome,gainonsaleofplantassets,rents

frompropertynotusedinhospitaloperations

(Premiumfeesalsoaresignificantfbrmanyhospitalstoday.Theywouldbereportedasaseparatelineitem

underoperatingrevenues.)

14Boththeprovisionfbrbaddebts(otherthanfbrcharitycare,whichisnotrecordedasrevenue)and

depreciationareexpensesofahospital.Hospitalsusefullaccrualaccountingprocedures.

15FASBStatementNo.117requiresprivatenot-for-profituniversitiestoprovideasetoffinancialstatements

thatincludesastatementoffinancialposition,statementofactivities,statementofcashflows,and

accompanyingnotes.Governmentaluniversitiesareconsideredspecial-purposegovernmentsunderGASB

StatementsNo.34and35.Special-purposegovernmentswithmorethanonegovernmentalprogramor

bothgovernmentalandbusiness-typeactivitiespresentbothgovernment-wideandfundfinancial

statements,aswellastheMD&A,notes,andrequiredsupplementaryinformation.Special-purpose

governmentswithonlyonegovernmentalprogrammaycombinefundandgovernment-widestatements,

whereasthosewithonlybusiness-typeactivitiesshouldreportonlythefinancialstatementsrequiredfor

enterprisefunds,aswellastheMD&A,notes,andrequiredsupplementaryinformation.

16GovernmentcollegesanduniversitiesnolongerhavetheoptionofusingtheAICPAcollegeguide;

however,manyorganizationsmayhaveretainedAICPAmodelfeaturesfbrinternalaccountingandcontrol

purposes.

17MuchguidancecomesfromtheFinancialAccountingandReportingManual,anaccountingmanual

preparedbytheNationalAssociationofCollegeandUniversityBusinessOfficers(NACUBO)whichis

availableasanonlinesubscriptionservice.

18GASBStatementsNo.34and35requirespecial-purposegovernmentwithmorethanonegovernmental

programorbothgovernmentalandbusiness-typeactivitiestopresentbothgovernment-wideandfund

financialstatements,aswellastheMD&A,notes,andrequiredsupplementaryinformation.Special-

purposegovernmentswithonlyonegovernmentalprogrammaycombinefundandgovernment-wide

statements,whereasthosewithonlybusiness-typeactivitiesshouldreportonlythefinancialstatements

requiredforenterprisefunds,aswellastheMD&A,notesandrequiredsupplementaryinformation.

19Functionalclassificationsincludethefollowing:

?Instruction.Expensesfortheeducationalprograms

?Resource.Expensestoproduceresearchoutcome

?PublicService.Expensesforactivitiestoprovidenoninstructionalservicestoexternalgroups

?Academicsupport.Expensestoprovidesupportforinstruction,research,andpublications

?StudentServices.Amountsexpendedforadmissionsandregistrar,andamountsexpendedfor

students'emotional,social,andphysicalwell-being

?Institutionalsupport.Amountsexpendedforadministrationandthelong-rangeplanningofthe

university

?Operationandmaintenanceofplant.Expensesforoperatingandmaintainingthephysicalplant

(netofamountstoauxiliaryenterprisesanduniversityhospitals)

?Studentaid.Expensesfromrestrictedorunrestrictedfundsintheformofgrants,scholarships,or

fellowshipstostudents.

20Property,plant,andequipmentacquiredbyanot-for-profitorganizationwithunrestrictedorrestricted

resourcesmayberecordedatacquisitionasunrestrictedortemporarilyrestricted.Iftemporarilyrestricted,

theassetsarereclassifiedwhendepreciationisrecognized.

EXERCISES

E21-1E21-2E21-3

1d1b1b

2a2a2b

3d3d3c

4c4b4d

5b5c5a

E21-4E21-5E21-6

1a1b1b

2b2b2a

3a3c3a

4a4c4c

5c5d5b

E21-7

1b

2a

3c

4a

5d

E21-8

Programservices:

Education$20,400

PublicHealth15,700

Research12000$4&100

Supportingservices:

Fundraising$11,400

Managementandgeneral5,500S16,900

E21-9

1)Contributionsreceivable20,000

Allowanceforuncollectiblecontributions600

Unrestrictedsupport-contributions13,580

Restrictedsupport——contributions5,820

Torecordcontributionrevenuesandanallowanceforuncollectibleaccounts.

Contributionsthatarenotdueuntilthenextperiodimplyatimerestrictionunlessthedonorexplicitly

stipulatesthatthepledgeisforcurrentexpenditures.Thus,unrestrictednetassetsareincreasedby$13,580

andtemporarilyrestrictednetassetsareincreasedby$5,820.

2)Cash200

Restrictedsupport—contributions200

Torecordagiftrestrictedtoaspecialproject.(RecallthatsomeNFPsmayrecordasunrestrictedifthe

restrictionismetinthesameperiod.)

Expenses-communityservice|programservices]200

Cash200

Torecordexpendituresforrestrictedpurpose.

Temporaiilyrestrictednetassets—reclassificationsout200

Unrestrictednetassets—reclassificationsin200

Torecordsatisfactionoftemporaryrestriction.

3)Equipment6,000

Unrestrictedsupport——Contributions6,000

Torecordreceiptofdonatedequipment.

Depreciationexpense-communityservices1,500

Accumulateddepreciation——equipment1,500

Torecorddepreciationexpensefortheyearonunrestrictedlong-livedassets.

Theorganizationmayalsoadoptanaccountingpolicythatimpliesatimerestrictionthatexpiresoverthe

usefullifeofthedonatedasset.Ifthegiftisreportedasrestrictedsupportintemporarilyrestrictednet

assets,depreciationisrecordedasanexpenseinunrestrictednetassets,whichresultsinareclassification

fortheamountofthedepreciationfromtemporarilyrestrictedtounrestrictednetassets.

4)Cash8,000

Restrictedsupport-contributions8,000

Torecordreceiptofdonationrestrictedtothepurchaseofatruck.

Accruedinterestreceivable215

Restrictedrevenue——investmentincome215

Torecordaccrualofinterestonfundsrestrictedforthepurchaseofatruck.

Thecontributionofcashrestrictedforlong-livedassetpurchasesincreasedtemporarilyrestrictednetassets,

asdidthedonor-restrictedinvestmentincomeonthosefunds.

5)Accountsreceivable735,000

Unrestrictedrevenues-tuitionandfees735,000

Torecordtuitionandfees.

Tuitionreduction:unrestricted——studentaid65,000

Accountsreceivable65,000

Torecordtuitionreductions.

Expenses-educationalandgeneral—institutionalsupport7,350

Allowanceforuncollectibleaccounts7,350

Torecordallowanceforuncollectibleaccounts.

6)Cash3,000,000

Temporarilyrestrictedcontribution——tobaccoresearch3,000,000

Torecordreceiptofrestrictedgrant.

Expenses——tobaccoresearch1,200,000

Cash1,200,000

Torecordexpensesfortobaccoresearch.

Temporarilyrestrictedcontribution—tobaccoresearch1,200,000

Contribution(unrestricted)1,200,000

Toreclassifythecontributionasunrestricted.

PROBLEMS

P21-1

VoluntaryHealthandWelfareOrganizationsift

1aCash5,000,000

Unrestrictedsupport-contributions5,000,000

Torecordcashcontributionreceived.

bExpenses(byfunction)2,300,000

Cash2,300,000

Torecordoperatingexpensespaid.

PrivateUniversityGift

2aCash5,000,000

Restrictedsupport-contributions—research5,000,000

Torecordrestrictedcashgiftreceived.

bExpenses-research2,300,000

Cash2,300,000

Torecordresearchexpenses.

Temporarilyrestrictednetassets-reclassificationsout2,300,000

Unrestrictednetassets——reclassificationsin2,300,000

Torecordreleaseofassetsfromtemporaryrestrictions.

LocalHospitalGift

3aCash5,000,000

Restrictedsupport——contributions5,000,000

Torecordcashgiftrestrictedforcapitaladditions.

bConstructioninprogress2,300,000

Cash2,300,000

Torecordconstructioncostsincurred.

Temporarilyrestrictednetassets——reclassificationsout2,300,000

Unrestrictednetassets—reclassificationsin2,300,000

Torecordreleaseofassetsfromtemporaryrestrictions.

P21-2

Paymentofsalaries

Expenses-managementandgeneral2,920

Expenses—communityservice11,680

Cash14,600

Torecordpaymentofsalariesallocated20%tomanagementandgeneralservicesand80%to

programservices.

Donatedservices

Expenses-managementandgeneral900

Unrestrictedsupport——donatedservices900

Torecorddonatedservices.

Donatedfacilities

Expenses—managementandgeneral60d

Expenses—communityservice2,400

Unrestrictedsupport—donatedfacilities3,000

Torecordallocationofdonatedfacilities20%tomanagementandgeneraland80%toprogram

services.

Paymentofutilities

Expenses-managementandgeneral36d

Expenses-communityservice1,440

Cash1,800

Torecordpaymentofutilitiesallocated20%tomanagementandgeneraland80%toprogram

services.

Purchaseanduseofsupplies

Suppliesinventory300

Cash300

Torecordpurchaseofsupplies.

Expenses——managementandgeneral60

Expenses—communityservice240

Suppliesinventory300

Torecordallocationofsuppliesexpense20%tomanagementandgeneraland80%toprogram

services.

Administrationandotherexpenses

Expenses—managementandgeneral1,200

Expenses—communityservice4,800

Cash6,000

Torecordpaymentofrecordkeepingexpensesallocated20%tomanagementandgeneraland80%

toprogramservices.

GiftsinkindarereportedascontributionssinceShareShophasdiscretionovertheirdistributionandafair

valueisdeterminable.Whengiftsinkindaredistributedtorecipients,theyarerecordedasprogram

expenses.Iffairvaluecannotbedetermined,neitherthecontributionnordistributionwouldberecorded.

Inventory-nonperishablefood60,000

Inventory—householditems40,000

Unrestrictedsupport—donatedassets100,000

Torecordreceiptofdonatedfoodandhouseholditems.

Expenses—communityservice65,000

Inventory-nonperishablefood45,000

Inventory——householditems20,000

Torecorddistributionoffoodandhouseholditemstoqualifiedrecipients.

Cashcontributions

Cash10,000

Unrestrictedsupport—contributions10,000

Torecordreceiptofcashcontributions.

Unconditionalpromisestogive(solutionassumesallpledgeswereduein2008)

Pledgesreceivable20,000

Unrestrictedsupport——contributions18,000

Allowanceforuncollectiblepledges2,000

Torecordpledgesreceivedand10%estimateduncollectiblepledges.

Cash15,000

Unrestrictedsupport—contributions3,000

Allowancefbruncollectiblepledges1,000

Contributionsreceivable15,000

Temporarilyrestrictedsupport——contributions4,000

Torecordreceiptofcash,adjusttheallowanceaccountfbrtheoverstatementofuncollected

pledges,andreclassifyuncollectedsupport.

Grant

Grantreceivable25,000

Temporarilyrestrictedsupport——grant25,000

ToaccruegrantfromTownofNorthPtarmiganduein2009.

P21-3

HometownMemorialHospital

StatementofOperations

FortheyearendedDecember31,2007

Unrestrictedrevenues,sains,andothersupport:

Netpatientservicerevenues

($2,500,000-$400,000-$100,000)$2,000,000

Otheroperatingrevenues($300,000+$50,000)350,000

Incomefrominvestmentinaffiliate80,000

Investmentincome270,000

Unrestrictedcontributions200,000

Netassetsreleasedfromrestrictionsforoperatingpurposes_80,000

Totaloperatingrevenues,gains,andnetassets

releasedfromrestrictionsforoperations2,980,000

ExpensesandLosses:

Nursingservices1,000,000

Otherprofessionalservices500,000

Generalservices290,000

Administrativeservices310,000

Uncollectibleaccounts150,000

Lossonsaleoffixedassets50,000

Depreciation_200,000

Totalexpensesandlosses2500,000

Excessofrevenues,gains,andothersupportover

expensesandlosses480,000

Netassetsreleasedfromrestrictionsforacquisitionsof

fixedassets_97.000

Increaseinunrestrictednetassets$577,000

P21-4

Accountsreceivable2,000,000

Unrestrictedrevenues——tuitionandfees2,000,000

Torecordtuitionandfees.

Tuitionreduction:unrestricted—studentaid120,000

Accountsreceivable120,000

Torecordtuitionreductions.

Cash1,100,000

Unrestrictedrevenues-stateappropriation800,000

Unrestrictedrevenues-localappropriation300,000

Torecordgovernmentalappropriations.

Cash500,000

Revenue-auxiliaryoperations500,000

Torecordauxiliaryrevenues.

Expenses-auxiliaryoperations480,000

Cash480,000

Torecordauxiliaryexpenses.

Cash90,00Q

Unrestrictedrevenues-contributions20,000

Temporarilyrestrictedrevenues-contributions70,000

Torecordcontributionsreceived.

Cash380,000

Unrestrictedrevenues—giftsandgrants80,000

Temporarilyrestrictedrevenues-Giftsandgrants300,000

Torecordgiftsandgrantsreceived.

Expenses-educationalandgene