The following are the 20X2 transactions of the Midwest Heart Association, which has the following funds and fund balances on January 1, 20X2 Net assets without donor restrictions Net assets with donor restrictions $288,000 304,000 1. Had Unrestricted pledges totaling $750,000, of which $180,000 is for 20X3 and uncollectible pledges estimated at 8 percent. 2. Had restricted use grants totaling $180,000 3. Collected a total of $536,000 of current pledges and wrote off $34,000 of remaining uncollected current pledges 4. Purchased office equipment for $15,000 5. Used unrestricted funds to pay the $3,100 mortgage payment due on the buildings. 6. Received interest and dividends of $28,800 on unrestricted investments and $6,200 on temporarily restricted investments. Arn endowment investment with a recorded value of $5,100 was sold for $6,600, resulting in a realized transaction gain of $1,500. A donor-imposed restriction specified that gains on sales of endowment investments must be maintained in the permanently restricted endowment fund 7. Recorded and allocated depreciation as follows Community services Public health education Research Fund-raising General and administrative $12,800 8,000 10,500 15,900 9,100 8. Had other operating costs of the current fund Net assets with donor restrictions Community services Public health education Research Fund-raising General and administrative $250,100 105,000 83,000 46,000 61,000 9. Received clerical services totaling $3,000 donated during the fund drive. These are not part of the expenses reported in item 8. It has been determined that these donated services should be recorded. Required: a. Prepare journal entries for the transactions in 20X2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the unrestricted pledges and estimated uncollectible pledges. Note: Enter debits before credits. Transaction General Journal Debit Credit 01 b. Prepare a statement of activities for 20X2. MIDWEST HEART ASSOCIATION Statement of Activities For the Year Ended December 31, 20X2 Without Donor With Donor Total Restrictions Restrictions Revenues, gains, and other support: Total revenues, gains and other support Program services and support Program services: Total program services Supporting services Total supporting services lotal expenses Net assets at beginning of year Net assets at end of year
