May Somepone help me solve this problem. I need help. Thank youin advance and may Yahuwah bless you. Your help is highlyappreciated. Thank you once more. Kindly, Diana. =)
Transaction Analysis
Analyze the following scenario: The Unified Path is an umbrellaorganization that solicits donations to support its many charitablesuborganizations. One of these is the Millbridge Family Service(MFS). All transactions for MFS are handled through the MFS specialpurpose fund. For both the United Path general operating fund andMFS special purpose fund, show the impact of the fundamentalequation of accounting of each of the following events.
Unified Path transfers cash to the MFS bank account for $50,000for the MFS family counseling program. This is a direct subsidy toMFS. No repayment is required.
Unified Path has a bookkeeping department which assists thesuborganizations with their purchase of insurance, supplies,payroll, and other items. This centralized approach is lessexpensive than if each part of the larger organization had its ownbookkeeping staff. Unified Path charges MFS $400 for bookkeepingservices for the month. No payment is made at this time.
MFS borrows $20,000 from Unified Path
May Somepone help me solve this problem. I need help. Thank youin advance and may Yahuwah bless you. Your help is highlyappreciated. Thank you once more. Kindly, Diana. =)
Transaction Analysis
Analyze the following scenario: The Unified Path is an umbrellaorganization that solicits donations to support its many charitablesuborganizations. One of these is the Millbridge Family Service(MFS). All transactions for MFS are handled through the MFS specialpurpose fund. For both the United Path general operating fund andMFS special purpose fund, show the impact of the fundamentalequation of accounting of each of the following events.
Unified Path transfers cash to the MFS bank account for $50,000for the MFS family counseling program. This is a direct subsidy toMFS. No repayment is required.
Unified Path has a bookkeeping department which assists thesuborganizations with their purchase of insurance, supplies,payroll, and other items. This centralized approach is lessexpensive than if each part of the larger organization had its ownbookkeeping staff. Unified Path charges MFS $400 for bookkeepingservices for the month. No payment is made at this time.
MFS borrows $20,000 from Unified Path
