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NPO Pp. 1182 1211

The document contains accounting entries and calculations for revenue, expenses, and net assets for a university. It shows computations for gross revenue, deductions for refunds, scholarships, and other expenses to calculate net revenue and increases or decreases to unrestricted net assets. Calculations are provided for tuition fees, public service revenue, donations, and other income sources. Notes explain treatments for board-designated funds, purpose restrictions on net assets, and reclassifications between restricted and unrestricted accounts.

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Ralphjersy Almendras
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26 views

NPO Pp. 1182 1211

The document contains accounting entries and calculations for revenue, expenses, and net assets for a university. It shows computations for gross revenue, deductions for refunds, scholarships, and other expenses to calculate net revenue and increases or decreases to unrestricted net assets. Calculations are provided for tuition fees, public service revenue, donations, and other income sources. Notes explain treatments for board-designated funds, purpose restrictions on net assets, and reclassifications between restricted and unrestricted accounts.

Uploaded by

Ralphjersy Almendras
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Contra Revenue Account

Expense
Contra Revenue Account

2,300,000 Gross Revenue (Tuition Fees)


- 50,000 Refunds
- 140,000 Scholarships and Fellowships
=2,110,000 NET REVENUE

2,110,000 Unrestricted (since regular type)


- 10,000 Expense
=2,100,000 Increase in the Unrestricted

2,300,000 Gross Revenue (Tuition Fees)


- 50,000 Refunds
=2,250,000 NET REVENUE

2,300,000 Gross Revenue (Tuition Fees)


- 50,000 Refunds
=2,110,000 NET REVENUE
- 10,000 Expense
- 140,000 Scholarships and Fellowships
=2,100,000 Increase in Unrestricted

4,000,000 Gross Revenue - Tuition Fees


- 150,000 Scholarships to Undergraduate
= 3,850,000 NET REVENUE
4,000,000 Gross Revenue - Tuition Fees
- 150,000 Scholarships to Undergraduate
- 300,000 Expense (Tuition Remissions)
= 3,550,000 NET REVENUE

4,000,000 Gross Revenue - Tuition Fees


(WALA NG IBABAWAS)

4,000,000 Gross Revenue - Tuition Fees


- 150,000 Scholarships to Undergraduate
- 300,000 Expense (Tuition Remissions)
= 3,550,000 NET REVENUE [Same Computation lang sa #18]
7M PSR
- 1M Charity
= 6,000,000 Gross PSR (Kaya di binawas
yung 500k)

9M PSR
- 1.5M Charity
= 7.5M GPSR
- 750k Contractual Adj
= 6,750,000 NPSR

4M PSR
- 140k Contractual Adj
= 3,860,000 NPSR (Uncollectible was not
deducted since wala sa formula)

Other Rev & Gains (Other Operating)

PSR

Other Rev & Gains (Other Non-operating)

Exclude (expense - OPEX)


Include but Deduction
Other Rev and Gains (Other Operating)

Exclude (Expense)

5M PSR
- 500k Contractual Adj
= 4,500,000 NPSR

Letter A is wrong since the JE for reduction:


Dr. Medical Supplies
Cr. Contribution Revenue - Unrestricted

Both Cash worth 40,000 and investments worth


700,000 are "Board Designated". Thus, they are all
included as unrestricted.

Zero is the answer since it doesn't enhance any


non-financial asset or require any specialized skill
(lahat naman ay kaya magtulak ng wheelchair).
"Disclosure only"
7M PSR
- 1M Charity
= 6M GPSR
- 500k Discount
= 5.5M NPSR (Computed for discussion purposes only)

Since "Donation of Medicine" is "Other Operating Revenue"


which is unrestricted, no reclassification is involved. Thus, the
full amount was included as "revenue". (20% expenses would
only be included if "Net Revenue" was asked.

Unrestricted since "Board-Designated" despite that it is for future expansion.

Dr. Reclassification-Out (Temp. Restricted)


Cr. Reclassification-In (Unrestricted)
Letter D is wrong since we do not reclassify "unrestricted" net assets.

This is purpose restriction.

This is purpose restriction.

Debit both
Net Asset Released - Plant Acquisition
and Equipment.
#110 Explanation: D is
the supposedly good
answer but the
question refers to
Statement of
Operations/ Income
Statement where no
capital accounts are
involved. *Deducting the 30k expended.
Also, January 20x5 was the time
when the remaining 10k was
expended. Thus, it is still under
Unrestricted Net Assets by
December 20x4.

If cash outflow ito, correct ito.

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