Prepare Journal Entries for the Following Transactions or Events

question 16

Essay

Prepare journal entries for the following transactions or events:
1. The board of trustees of Snark College voted to designate $300,000 for expansion of the student union and $90,000 for future research projects.
2. In accordance with the requirements of a bond indenture, Snark College transferred $85,000 of unrestricted funds for the accumulation of cash to retire the debt related to the construction of the Central Computer Building.
3. A governing board of a hospital designates $280,000 for the future expansion of the emergency care facilities.
4. A heart association receives pledges of $900,000 from the general public in connection with a telethon. It is estimated that 30% of the amounts pledged will not be collectible.
5. An ONNO receives the donated services of a CPA with a market value of $10,000.
6. On November 3, 2017, $75,000 was donated to a university for library acquisitions of which $50,000 was expended for this purpose during the remainder of the fiscal year.
7. On November 4, 2017, $15,000 was contributed to a voluntary health organization to be used to conduct CPR classes for the public. During the remainder of the current fiscal year $14,000 was expended for this purpose.
8. On November 5, 2017, $100,000 was contributed to a hospital for cancer research of which $90,000 was expended for this purpose during the remainder of the fiscal year.

Examine the mechanisms of political processes and their impact on economic policies and outcomes.

Discuss the efficiency of public versus private bureaucracies in resource utilization.

Comprehend the fiscal and monetary policy tools of the government and their implications for economic management.

Understand the impact of race on the history of nations and the dynamics of empires.

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Definitions:

Personality

An amalgamation of elements or qualities that constitute a person's distinct identity and modes of behavior.

Frontal Lobes

are the parts of the brain located at the front of each cerebral hemisphere, responsible for decision making, problem solving, and controlling behavior.

Planning

The process of setting goals, developing strategies, and outlining tasks and schedules to accomplish the goals.

Personality

The combination of characteristics or qualities that form an individual's distinctive character, influencing behavior, thoughts, and emotions.