Fund-raising campaign, Radio, TV, and newspaper advertising

Fund-raising campaign

Assignment Help Accounting Basics

Reference no: EM13259433

The local chapter of Helping Hands, a social serviceorganization, had the following economic events occur during themonth of May:

1. A luncheon honoring volunteers was held at a cost of950. By month end the bill hadn't been received orpaid.

2. New letterhead and envelopes were printed at a cost of625 and paid for. The new items will not be used, however,until the old supply is exhausted sometime in June.

3. The executive director was paid her usual salary of3,800 during May.

4. Prizes, ribbons, and awards for events upcoming in Julywere delivered by the supplier, who charged 10,175. The amountwas paid in cash.

5. The electric bill for April totaled 163 and was paid infull.

6. Radio, TV, and newspaper advertising related to a special fund-raising campaign ran during May. The 7,550 costhad been paid in April.

Helping Hands uses an accrual basis accounting. For whichof the events above should an expense be recorded in May? Ineach case, how much expense should be recorded? If an eventdoes not involve an expense, specify why not.

Reference no: EM13259433

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