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At 12-31-2008, the Halifax Fishing Museum Had Unrestricted Cash of

Question 121

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At 12-31-2008, The Halifax Fishing Museum had unrestricted cash of $ 25,000, building and land with a net book value of $ 210,000 and permanently restricted collections totaling $ 120,000. There were no liabilities. The Museum has two programs: Operation of a Fishing Museum and Educational Programs. During the year ended 12-31-2009 the Museum incurred the following transactions:
(1) Cash contributions to the Museum included (a) unrestricted $ 410,000, (b) restricted for educational programs $ 33,000 and (c) restricted by the donor for endowment purposes $ 80,000.
(2) Additional unrestricted cash receipts included $ 19,900 in fees from individuals and organizations using the Museum building as a meeting facility. Included in this is $ 4,000 for a meeting to be held in January 2008.
(3) Donors made pledges in the amount of $ 30,000 that were unrestricted as to purpose, but which are to be expended in 2010. 10% are expected to be uncollectible.
(4)Incurred cash expenses:

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