(a) (i) 

Prepare the journal entry to record the pledge by the provincial government towards the purchase of land, if applicable.

General Journal Debit Credit

Pledge receivable Correct 59160  money raised from individuals
Contribution revenue from provincial government Correct 59160 

FAIRCHILD CENTRE
Statement of Operations
Year ended December 31, Year 5
Operating Fund Capital Fund
Revenues
Operating grant from provincial government 51000 59160 
Donations from individuals — unrestricted 64000 59160 
Donations for rent of warehouse 20400 0
total 135400 0
Expenses
Salary of executive director 31200 0
Fees earned by counsellors 21250 0
Rent expense 20400 0
Amortization of leasehold improvements 24000 0
Other operating expenses 21500 0
118350 0
Excess of revenues over expenses 17050 0

FAIRCHILD CENTRE
Statement of Changes in Net Assets
Year ended December 31, Year 5
Operating Fund Capital Fund
Balance, beginning of year 0 0
Excess of revenues over expenses 17050 0
Balance, end of year $ 17,050.00 $ -
the purchase of land, if applicable.

rom individuals

Capital Fund

money raised from individuals

Total
0
17050
$ 17,050.00
(a) (i) Prepare the journal entry to record the pledge by the provincial government towards the purchase of land, if applicable.

General Journal Debit Credit

Pledge receivable  52200 money raised from individuals
Contribution revenue from provincial government  52200

FAIRCHILD CENTRE
Statement of Operations
Year ended December 31, Year 5
Operating Fund
Revenues
Operating grant from provincial government 45000
Donations from individuals — unrestricted 55000
Donations for rent of warehouse 18000
total 118000
Expenses
Salary of executive director 26400
Fees earned by counsellors 19450
Rent expense 18000
Amortization of leasehold improvements 19200
Other operating expenses 20500
103550
Excess of revenues over expenses 14450

FAIRCHILD CENTRE
Statement of Changes in Net Assets
Year ended December 31, Year 5
Net assets Restricted Unrestricted
for Land purchase
Net ATotal
Balance, beginning of year 0 0 0
Contributions for purchase of land 52200 0 52200
Pledge for purchase of land 52200 0 52200
Excess of revenues over expenses 0 14450 14450
Balance, end of year 104400 14450 118850
 purchase of land, if applicable.

ney raised from individuals

Capital Fund