Reference no: EM13122760
On December 31, 2013, the child crisis center establishes an endowment fund with a $5 million gift of securities. Income from the endowment is to be used exclsuively to support a nutrition program.
during 2014, endowment earns $100,000 in interest and dividends. Portfolio increase from $500,000 to 5.5 million. 2015, endowment again earns $100,000 in interest and dividends and spends the entire amount on nutrition program. Value of the portfolio decrease $800,000, from 5.5 million to 4.7 million. 2016, endowment earns and spend $100,000 in interest and dividends. Portfolio recovers $400,000 of the investment losses and worth at the year end $5.1 million. Center had cash of $600,000 on 2014 unrestricted fund.Over 3 yr period balance was unaffected by transaction other than those just described.
1. prepare a schedule fore each of three years -- summarize the transaction as they affect permanently restricted, temporarily and unrestricted net assets. 2. beginning of 2015, the year of the loss the total value of the security portfolio was $5.5 mil. Of this amount the initial $5 mill was classified as permanently restricted, and the balance as temp.restricted. Adhere to FASB, how much of the loss did you assign to the permanently restricted assets and how much to the temporarily restricted assets? How can you justify this division of this loss?
|
Distribution and the shareholders basis
: Explain to Kelly Corporation's president how the amount of its recognized gain or loss on the distribution and the shareholder's basis for the land are determined.
|
|
What is differential cost of alternative b over alternat a
: Are the materials costs and processing costs relevant in the choice between alternatives A and B? (Ignore the equipment rental and occupancy costs in this question.)
|
|
How many grams of iron is produced
: Iron is obtained commercially by the reaction of hematite (Fe2O3) with carbon monoxide. How many grams of iron is produced when 25 mol of hematite reacts with 30 mol of carbon monoxide? with the balanced equation of Fe2O3 + 3CO = 2Fe + 3CO2
|
|
Find the sample proportion from an american express
: What is the sample proportion from an American Express sponsored survey that found 355 of 546 business travelers use a laptop computer on overnight business trips?
|
|
Prepare a schedule fore each of three years
: On December 31, 2013, the child crisis center establishes an endowment fund with a $5 million gift of securities. Income from the endowment is to be used exclsuively to support a nutrition program.
|
|
Noncumulative-nonparticipating preferred stock
: Shamrock Company had net income of $30,000. On January 1, the number of shares of common stock outstanding was 8,000. The company declared a $2,700 dividend on its noncumulative, nonparticipating preferred stock.
|
|
Inverse element proof
: Let N be a positive integer. Let d be an integer relatively prime to phi(N) (phi denotes the euler totient function). Prove that there exists a d' in Z (=integers) with dd'=1 mod phi(N).
|
|
What are the molality and mole fraction of solute
: What are the molality and mole fraction of solute in a 34.0 percent by mass aqueous solution of formic acid (CH3OH)?
|
|
How many batteries would weigh more than forty eight months
: A mean of 45 months and a standard deviation of 8 months. if a random sample of 600 batteries is selected, how many batteries would weigh last more than 48 months?
|