During the current year, the Dallas area United Way receives $250,000 in cash contributions that are donor-designated for Mesquite Social Services, an unaffiliated NFP organization. The Dallas United Way distributes the $250,000 to Mesquite Social Services. The Dallas United Way also receives $30,000,000 in donations that are not donor designated to a particular organization. It uses $100,000 of these donations to support Mesquite Social Services.
Required
Prepare the journal entries made by the Dallas United Way and Mesquite Social Services to record the above events. If the entry affects net assets, indicate which category of net assets is affected.

Question

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The Answer of During the current year, the Dallas area United Way receives $250,000 in cash contributions that are donor-designated for Mesquite Social Services, an unaffiliated NFP organization. The Dallas United Way distributes the $250,000 to Mesquite Social Services. The Dallas United Way also receives $30,000,000 in donations that are not donor designated to a particular organization. It uses $100,000 of these donations to support Mesquite Social Services.
Required
Prepare the journal entries made by the Dallas United Way and Mesquite Social Services to record the above events. If the entry affects net assets, indicate which category of net assets is affected.

During the Current Year, the Dallas Area United Way Receives