Hope received 32000 in cash from pledges made in the previou

Hope received $32,000 in cash from pledges made in the previous year that were unrestricted as to purpose but intended to be expended in 2017.

Hope received $91,000 in pledges that indicated the money would be received in 2018. The donors imposed no restrictions other than the money could be used for any purpose desired by the board.

Hope expended $40,000 for nursing training, using $35,000 of temporarily restricted resources that had been given in 2016 for that purpose.

Hope received $50,000, restricted by the donor for cancer research. The funds were not expended in 2017. This is a fixed dollar, not cost reimbursement, grant.

Hope received $270,000 in cash. The board decided to invest the funds for future plant expansion.

Required:
Record the above transactions on the books of Hope Hospital, which follows FASB (not-for-profit) and AICPA standards. The year is 2017.

Journal Entries :-

S. No.	Particulars	Debit ($)	Credit ($)
1	Cash A/c Dr.	32000
	To Pledges Receivable		32000

	Reclassification from Temporarilt Restricted Net Assets A/c Dr.	32000
	To Reclassification to Unrestricted Net Assets		32000

2	Contributions Receivable A/c Dr.	91000
	To Revenues		91000

3	Operating Expense A/c Dr.	40000
	To Cash		40000

	Reclassification from Temporarilt Restricted Net Assets A/c Dr.	35000
	To Reclassification to Unrestricted Net Assets		35000

4	Cash A/c Dr.	50000
	To Revenues		50000

5	Cash A/c Dr.	270000
	To Non-Operating Revenues		270000

	Investment A/c Dr.	270000
	To Cash		270000

	Net Assets-Unrestricted-Undesignated A/c Dr.	270000
	To Net Assets-unrestricted-Designated by Board for Future Plant Expansion		270000

Hope received $32,000 in cash from pledges made in the previous year that were unrestricted as to purpose but intended to be expended in 2017. Hope received $91

Hope received 32000 in cash from pledges made in the previou

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