Solution-Define what amount should child care centers

Define what amount should child care centers record as

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Reference no: EM131729877

Child Care Centers, Inc., a not-for-profit organization, receives revenue from various sources during the year to support its day care centers. The following cash amounts were received during 2011:

$2,000 restricted by the donor to be used for meals for the children.

$1,500 received for subscriptions to a monthly child-care magazine with a fair market value to subscribers of $1,000.

$10,000 to be used only upon completion of a new playroom that was only 50% complete at December 31, 2011.

What amount should Child Care Centers record as contribution revenue in its 2011 Statement of Activities?

Reference no: EM131729877

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Define what amount should child care centers record as

Reference no: EM131729877

Reference no: EM131729877

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