Identify each of the following items as a capital expenditure (C), an immediate expense (E), or neither (N). Transaction 1. Constructed a new parking lot on leased property for $300,000. 2. Paid property taxes of $75,000 for the first year a new administrative services building was occupied. 3. Paid dividends of $40,000. 4. Paid interest on a six-month note payable that financed the construction of a new plant building. $550,000. 5. Purchased equipment for a new manufacturing plant, $6,000,000. Transaction 6. Paid $90,000 for the installation of the equipment in (5). 7. Repaired plumbing in existing manufacturing plant, paying $27,000. 8. Paid $148,000 to tear down an old building on a new manufacturing plant site. 9. Purchased new network servers for $29,000. 10. Paid maintenance costs of $31,000 on the equipment in (5) during its first year of use. Type of Expenditure Type of Expenditure

Which of the following statements is correct? Multiple Choice A contribution receivable should be recognized as an asset when the amount can be reasonably estimated AND the ultimate collection is reasonably assured. A contribution receivable should be recognized as an asset when the amount can be reasonably estimated OR the ultimate collection is reasonably assured. Bequests are accrued at the time the donor advises the NFPO of the gift. Government funding is recognized as contribution revenue as long as the government is the direct recipient of the good or service. Group Ends

Oliver's Place is a nonprofit entity that cares for dogs until they are adopted. It uses fund accounting and uses a UCF, an RCF, and an EF. It charges its expenses to the care of animals program, special programs, and administrative expenses. Following are some of its transactions for its fiscal year. Prepare the journal entries needed to record these transactions, indicating the fund used for each entry and showing net asset classifications, where appropriate. 1. During the year, Oliver's Place received pledges of $80,000 without donor restrictions. It estimated that 95 percent of the pledges would be collected in cash. 2. It received the following gifts from various donors: a. Donor A made a gift of common stock that had a fair value of $16,000. Donor A stated that the gift could be used for any purpose. b. Donor B made a cash gift of $4,000, stipulating that it could be used only for a new program to take calm dogs to visit elderly people. c. Donor C made a gift of common stock that…