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Accounting Tutorial › With Restricted Funds

SpringTime’s 2000 General Ledger - Posting the Entries

Dr (Cr), note "*" denotes entries netted - see journal entries

  #1 #2 #3 #4 #5 #6 #7 #8 #9 #10 Final TB
Bank-Operating fund 500 350                 850
Accounts receivable         100       115   215
Allowance for doubtful accts         (50)           (50)
Contributions receivable   100 (100)               -
Prepaid expenses       100             100
Flower Pin Inventory   300       (100)         200
Accounts payable   (100)   *             (100)
Due to capital fund     (100)               (100)
Deferred contributions - SF   (200)         *(100)   *(115)   (415)
Operating fund - opening balance   (450)                 (450)
Flower Pin sales (200)       (50)           (250)
Flower Pin cost of sales           100         100
Unrestricted contributions (100)   100               -
Spring Fling revenue (700)           *100       (600)
Administration costs 100                   100
Spring Fling expenses 400     (100)             300
Transfer to capital fund     100               100
Bank-Capital fund (60) 150                 90
Capital assets   2000           200     2200
Accumulated amortization   (800)           (110)     (910)
Bank loan - current portion 160 (130)               *(155) (125)
Bank loan   (500)               100 (400)
Due from operating fund     100               100
Capital fund - opening balance   (720)                 (720)
Contribution for debt (100)                 100 -
Capital contributions                (200)   (100) (300)
Transfer from operating fund     (100)               (100)
Amortization               110     110
Interest expense                   *55 55
Accounts receivable - E- fund                 135   135
Bond 10200               (200)   10000
Premium on bond                 *190   190
Endowment fund-opening balance   -                 -
Interest Income-Endowment fund                  (125)   (125)
Endowment revenue (10200)                   (10200)

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