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Prepare journal entries to record the transactions in E12- 3.In E12- 3.For each of the following transactions, identify the net asset classification ( unrestricted, temporarily restricted, permanently restricted) that is affected in the NFPO financial statements for the year ended December 31, 2013. More than one net asset class may be affected in some transactions.1. Donor A gave the NFPO a cash gift of $ 50,000 in June 2012, telling the NFPO the gift could not be used until 2013. Identify the net asset classification( s) in the journal entry made at the start of 2013.2. Attorney Howard Gorman volunteered his services to Taconic Singers, an NFPO. He spent 12 hours preparing contracts for the services of professional singers and 8 hours serving as an usher before performances. Gorman normally gets $ 200 an hour for legal services, and Taconic normally pays $ 8 an hour when it hires ushers.3. Donor B sent a letter to an NFPO, saying she would donate $ 20,000 in cash to the NFPO, to be used for any purpose the NFPO trustees desired, provided the NFPO raised an equal amount of cash from other donors.4. Regarding the previous transaction, the NFPO raised $ 23,000 in cash from other donors and then notified Donor B of its success in meeting her condition for the gift.5. Donor C donates to a local museum a work of art having a fair value of $ 5,000, with the understanding that the museum will sell it at auction and use the funds for its general activities.6. Donor D advises a university that he has established an irrevocable charitable remainder trust, administered by his attorney, whereby his wife will receive income from the trust as long as she lives. At her death, the remaining trust assets will be distributed to the university as a perma-nent endowment. The university actuary estimates the fair value of the university beneficial interest to be $ 400,000.7. By December 31, 2013, the fair value of investments held in perpetuity by an NFPO increased by $ 30,000
crane company division b recorded sales of 360000 variable cost of goods sold of 315000 variable selling expenses of
Brandywine Homecare, a not-for-profit business, had revenues of 12 million in 2007. Expenses other than depreciation totaled 75 percent of revenues, and depreciation expense was 1.5 million.
How many patient days does the hospital need to break even and what level of revenue is needed to earn a target income of $540,000?
compare the traditional gross profit gross margin concept in financial reporting to contribution margin in
On that date, when the market price of Oliver was $14 per share, there were 180,000 shares of Gibbs outstanding. What NET reduction in retained earnings would result from this property dividend?
supplies 300 only 200 of supplies still existunearned revenue 1500 of this amount 500 was received for december
question 3 suggested time 15 minutes 15 pointsthe following information is available for flip companybeginning
steelcase inc. is the global leader in providing furniture for office environments. the company uses the lifo inventory
A particular common stock has an annual cash dividend of $2 per share and is predicted to have a market value of $30 per share 5 years from now. Assuming a discount rate of 10%, a fair market price for the stock today is:
Given these exact figures above, the dollar value of Whitewater's "earnings before interest and taxes" would ____ if the Canadian dollar appreciates; the dollar value of Whitewater's cash flows would ____ if the Canadian dollar appreciates.
Jason Company determined that the budgeted cost of producing a product is $1.20 per unit. On June 1, there were 11,000 units on hand.
Research a public company and explain how management reports on internal control in order to meet the requirements of Section 404.
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