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GAAP For Non-Profits › General Reporting Matters

Fund Accounting - Two Funds

Once we have divided up the opening net asset balance, we can present the two funds for SpringTime in two separate trial balances. We can also combine these two trial balances to form one trial balance comprised of two funds, see attached page. Presenting the funds separately as two distinct trial balances, we see that each fund is a self- balancing set of accounts.

Operating Fund
Trial Balance

December 31, 1999

  Dr Cr
Bank - operating account 350  
Accounts receivable 100  
Flower Pin inventory 300  
Accounts Payable   100
Deferred contributions - Spring Fling   200
Operating Fund - opening balance   15
Flower Pin revenue   450
Flower Pin cost of sales 150  
Spring Fling contributions recognized   500
Unrestricted contributions   100
Administration 65  
Spring Fling expenses 400  
  1365 1365

Capital Fund (Deferral Method)
Trial Balance

December 31, 1999

  Dr Cr
Bank - capital account 150  
Capital assets - cost 2000  
Accumulated amortization   800
Bank loan - current portion   130
Bank loan   500
Deferred capital contributions   400
Capital fund - opening balance   435
Capital contributions recognized   50
Amortization 100  
Interest expense 65  
  2315 2315

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