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Problem 1: A local private not-for-profit entity receives a large monetary pledge. Accountants are attempting to determine if the contribution is conditional. They are assessing the possible existence of a barrier that has to be overcome. Which of the following is not an indication of a barrier of this type?
Multiple Choice
Option 1: Measurable performance related barrierOption 2: Stipulation limiting discretion by the recipient on the conduct of an activityOption 3: Requirement preventing the money from being spent until a specific date in the futureOption 4: Stipulation that ties into the agreement
Problem 2: AB is a private not-for-profit entity. It acquires YZ, another private not-for-profit entity. The acquisition price is $1.04 million. YZ has net assets with a net book value of $604,000 but a fair value of $708,000. Officials for AB expect that the primary support for YZ in the future will be contributions. After the acquisition, what amount of goodwill will be reported on the consolidated balance sheet?
Option 1: $-0-Option 2: $104,000Option 3: $332,000Option 4: $376,000
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Compute the annual breakeven number of meals and sales revenue for the restaurant. Compute the number of meals and the amount of sales revenue needed to earn operating income of $75,600 for the year.
While on vacation in July 2016, you had a conversation with another vacationer, Darryl Barnes, whom you had never met. You two were sitting on the beach and somehow the conversation turned into a discussion of a business scenario that involved a busi..
The number of work hours per week is an important part of most job descriptions. Recently English Government has passed a law requiring companies in England to reduce the work hours from 40 to 35 to lower country's unemployment rate.
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