The following transactions pertain to the activities of the Whitt Shakespeare Company (WSC), a nonprofit entity. For each transaction, state which classification of net assets is affected: net assets with donor restrictions or net asset without donor restrictions. In addition, state the fund in which the transaction would be recorded, if the WSC were using fund accounting for internal record-keeping purposes. (Note: Transactions may require more than one net asset classification and more than one fund.)
a. WSC receives a cash donation of $5,000, which must be used for a specific performance to be attended only by disadvantaged youths.
b. WSC gives the performance referred to in transaction a.
c. WSC conducts its annual fundraising campaign at the beginning of the year and raises $50,000 to help meet its regular program and other expenses.
d. The state council on the arts gives WSC a grant of $20,000, to be used only for specific performances during the same year for senior citizens who reside in government-supported housing.
e. Cort Beynon donates $16,000, stipulating that, starting next year, the resources should be used to help meet its regular program and administrative expenses, at the rate of $4,000 a year.
f. Jace Beynon donates $20,000, to be placed in a fund that will be maintained in perpetuity.

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The Answer of The following transactions pertain to the activities of the Whitt Shakespeare Company (WSC), a nonprofit entity. For each transaction, state which classification of net assets is affected: net assets with donor restrictions or net asset without donor restrictions. In addition, state the fund in which the transaction would be recorded, if the WSC were using fund accounting for internal record-keeping purposes. (Note: Transactions may require more than one net asset classification and more than one fund.)
a. WSC receives a cash donation of $5,000, which must be used for a specific performance to be attended only by disadvantaged youths.
b. WSC gives the performance referred to in transaction a.
c. WSC conducts its annual fundraising campaign at the beginning of the year and raises $50,000 to help meet its regular program and other expenses.
d. The state council on the arts gives WSC a grant of $20,000, to be used only for specific performances during the same year for senior citizens who reside in government-supported housing.
e. Cort Beynon donates $16,000, stipulating that, starting next year, the resources should be used to help meet its regular program and administrative expenses, at the rate of $4,000 a year.
f. Jace Beynon donates $20,000, to be placed in a fund that will be maintained in perpetuity.

The Following Transactions Pertain to the Activities of the Whitt