Solutions Manual Modern Advanced Accounting in Canada 11th Edition By Darrell Herauf, Chima Mbagwu, Kevin Veenstra

Solutions Manual for Modern
Advanced Accounting in Canada 11th
Edition By Darrell Herauf, Chima
Mbagwu, Kevin Veenstra (All Chapters
1-12, 100% Original Verified, A+ Garde)
All Chapters Arranged Reverse: 12-1
This is the Only Original Solutions
Manual for 11th Canadian Edition, All
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, Chapter 12
Accounting for Not-for-Profit and Public
Sector Organizations




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Solutions Manual, Chapter 12 1

,A brief description of the major points covered in each case and problem.


CASES

Case 12-1
A son of a patient in a hospital pledged $5 million to the hospital in gratitude for the service. The
hospital must decide how to report or disclose the pledge.

Case 12-2
In this case, a not-for-profit organization conducts a fund-raising campaign to build a new
facility. Different donors contribute in many different ways. Students are required to determine
how to account for revenue for this not-for-profit.


Case 12-3
The newly formed audit committee of a youth centre has raised a number of accounting issues.
Students are required to prepare a written response in their role as auditor.


Case 12-4
A First Nation has managed to operate for a number of years without preparing audited financial
statements but some major entrepreneurial activities entered into recently now necessitate the
preparation of audited statements. Students are required to prepare a report to discuss the
GAAP requirements for this organization.


Case 12-5
This case requires students to engage with the concept of sustainability reporting critically. It
challenges them to provide a solution that not only addresses the immediate needs of
Greenblend Tech but also sets a path for long-term sustainable growth. Students should use
their knowledge and understanding of sustainability practices, reporting frameworks and
strategic planning to respond.




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2 Modern Advanced Accounting in Canada, Eleventh Edition

, PROBLEMS

Problem 12-1 (30 min.)
This problem requires the preparation of a statement of operations and changes in net assets
and a statement of financial position for net assets invested in capital assets.


Problem 12-2 (15 min.)
Journal entries are required for a restricted contribution to acquire land and buildings using the
deferral method.


Problem 12-3 (15 min.)
Journal entries are required under the deferral method.

Problem 12-4 (20 min.)
Journal entries are required for a series of transactions using the restricted fund method.


Problem 12-5 (25 min.)
You are required to prepare a schedule to allocate costs between programs and fundraising, to
determine the portion of costs pertaining to each program and fundraising and to write the
disclosure note on allocation of costs.

Problem 12-6 (25 min.)
Journal entries are required for a series of transactions using the restricted fund method.


Problem 12-7 (25 min.)
This problem requires the preparation of an operating statement using the deferral method. The
calculation of the amounts for certain statement of financial position items is also required.


Problem 12-8 (30 min.)
This problem requires the preparation of a statement of financial position using the deferral
method.


Problem 12-9 (30 min.)
This problem is identical to problem 8 except that the restricted fund method of reporting is to be
used for three separate funds.

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Solutions Manual, Chapter 12 3