For each of the independent transactions listed, indicate which of the revenue or contribution classifications apply by
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Revenue and Contribution Classifications Transaction 1. A museum gift shop sold prints a. Revenue of famous paintings. - 2. At the end of the year, a donor agreed to contribute $400,000 c. Contributions–With Do- b. Contributions–Without Donor Restrictions nor Restrictions to a local artists' fund if the mu- seum raised a matching amount in the first quarter of the upcoming d. None of the above year. 3. A registered nurse volunteered 10 hours a week to a local agency for disabled persons. 4. A donor contributed $1 million to a not-for-profit hospital for a new clinic. 5. An NFP art association hosted its annual art exhibition for the asso- ciation's major contributors. - 6. A donor contributed securities valued at $10 million to be perma- nently invested. Earnings thereon are stipulated by the donor to be used for eye research. -7. A local computer store donated computers for children's use at an NFP hands-on children's museum. - 8. A local PTA received cash con- tributions of $2,000 to be used for its operating activities.
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Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
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