A $36,000 cash gift was received by a college during the year. Required: A. In which fund
Question:
A $36,000 cash gift was received by a college during the year.
Required:
A. In which fund should the gift be recorded if there were no restrictions on the use of the cash?
B. In which fund should the gift be recorded if the donor specified that the cash was to be used to replace obsolete and damaged equipment?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
Part A Current Unrestricted Fund these funds are f...View the full answer
Answered By
Mary Boke
As an online tutor with over seven years of experience and a PhD in Education, I have had the opportunity to work with a wide range of students from diverse backgrounds. My experience in education has allowed me to develop a deep understanding of how students learn and the various approaches that can be used to facilitate their learning. I believe in creating a positive and inclusive learning environment that encourages students to ask questions and engage with the material. I work closely with my students to understand their individual learning styles, strengths, and challenges to tailor my approach accordingly. I also place a strong emphasis on building strong relationships with my students, which fosters trust and creates a supportive learning environment. Overall, my goal as an online tutor is to help students achieve their academic goals and develop a lifelong love of learning. I believe that education is a transformative experience that has the power to change lives, and I am committed to helping my students realize their full potential.
5.00+
4+ Reviews
22+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
If there were no air resistance, how long would it take a free-falling parachutist to fall from a plane at 3200m to an altitude of 350, where she will pull her ripcord? What would her speed be at...
-
If there were no air resistance, why would it be dangerous to go outdoors on rainy days?
-
If there were no air resistance, how long would it take a free-falling skydiver to fall from a plane at 3200 m to an altitude of 450 m, where she will open her parachute? What would her speed be at...
-
Predicting Genetic disorders in Children based on their Medical information and History Hereditary diseases is becoming more of a problem as human population grows exponentially. Genetic testing...
-
According to By the Numbers, if the average price of a barrel of oil is $100, and total aggregate demand in 2012 was $15 trillion in the United States and $9 trillion in China, what percentage of...
-
On January 1, 2021, Weaver Corporation purchased a patent for $222,000. The remaining legal life is 20 years, but the company estimates the patent will be useful for only six more years. In January...
-
Perform a strengths, weaknesses, opportunities and threats (SWOT) analysis on ASOS.
-
Original activity-based costing and time-driven activity-based costing Garber Company uses a traditional activity-based costing system to assign $600,000 of committed resource costs for customer...
-
Bob the Builder and Wendy were partners in their constructionbusiness and were general contractors. They submitted a bid toconstruct a new building for the the city. They includedLumberjack\'s quote...
-
The TCM Petroleum Corporation is an integrated oil company headquartered in Fort Worth, Texas. Historical income statements for 2014 and 2015 are found below (dollar figures are in the millions): In...
-
In which fund of a hospital are medical equipment and related long-term obligations recorded? Would your answer be the same for a voluntary health and welfare organization? Explain.
-
What are some of the methods commonly used in allocating income and losses to the partners?
-
Name one quasi-governmental body.
-
Find a recent news report in which a statistical study led to a conclusion of causation. Describe the study and the claimed causation. Do you think the claim of causation is legitimate? Explain.
-
Tobacco companies have been the subject of many lawsuits related to the dangers of smoking. Research one recent lawsuit. What were the plaintiffs trying to prove? What statistical evidence did they...
-
A bag of concrete mix is tied to one end of a rope that is looped over a pulley attached to the ceiling, and the other end of the rope is tied to a pallet of lumber (Figure P8.46), The concrete mix...
-
At a munitions factory, chemicals \(M\) and \(P\) have to be added to a vat containing chemical \(\mathrm{C}\). Chemicals \(\mathrm{M}\) and \(\mathrm{P}\) have to be added simultaneously to prevent...
-
An organ pipe open at both ends is tuned so that its fundamental frequency is a G. How long is the pipe? A. \(43 \mathrm{~cm}\) B. \(87 \mathrm{~cm}\) C. \(130 \mathrm{~cm}\) D. \(173 \mathrm{~cm}\)...
-
One aspect of climate change is that average nighttime temperatures have increased more than average daytime temperatures have increased. Since the rates of metabolic processes, including...
-
For the following exercises, find the inverse of the function and graph both the function and its inverse. f(x) = 4 x 2 , x 0
-
(a) Prove that the entropy of an isolated system either increases or remains constant, but can never decrease. (b) The following figure shows the relationship between temperature and entropy for a...
-
The law firm of Hackney and Walton has decided to start supporting a worthy charity. The partners want to select an organization that makes good use of its resources to meet its stated mission. Go to...
-
The law firm of Hackney and Walton has decided to start supporting a worthy charity. The partners want to select an organization that makes good use of its resources to meet its stated mission. Go to...
-
Go to the Web site of a private not-for-profit college or university such as Duke (www.duke.edu), Vanderbilt (www.vanderbilt.edu), Notre Dame (www.nd.edu), or Georgetown (www.georgetown.edu) and...
-
The sheet Inventory lists a grocery store's inventory for two months. Calculate the percent change for each item to two decimal places. If the formula gives an error, put "Initial Stock" in the cell....
-
A local manufacturer produces two different products on the same production line. Product A requires .5 hours of labor while product B requires .8 hours of labor. The total labor available in any one...
-
Hampton Company reports the following information for its recent calendar year. Income Statement Data Sales Expenses: Cost of goods sold Salaries expense Depreciation expense Net income Required:...
Study smarter with the SolutionInn App