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Accounting Tutorial › With Restricted Funds

Bank Admin Expense Spring Fling Expenses Spring Fling Receipts Unrestricted receipts Flower Pin receipts Endowment receipt Bond Purchase
500 100 400 (700) (100) (200) (10,200) 10,200

SpringTime
Synoptic Journal Totals - Capital Fund - Dr (Cr)
December 31, 2000

Bank Debt Contribution Debt Payment
(60) (100) 160

When starting from scratch, the first step in accounting is usually either to record the opening balances or the cash transactions for the year.  Taking the results from our synoptic or cash journals, we will record the following entries:

  dr cr
Bank - operating fund 500  
Administration costs 100  
Spring Fling expenses 400  
Spring Fling revenue   700
Unrestricted contributions   100
Flower Pin revenue   200
Endowment receipts   10200
Bond 10200  
  dr cr
Bank - capital fund   60
Contribution for debt   100
Bank loan - current portion 160  

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