During the year, Griffin University's board of trustees established a $200,000 fund to be retained and invested
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During the year, Griffin University's board of trustees established a $200,000 fund to be retained and invested for scholarship grants. The fund earned $12,000, which had not been distributed by December 31. What amount should Griffin report in a Board designated (quasi) endowment fund's net assets on December 31?
a. $0
b. $12,000
c. $200,000
d. $212,000
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Related Book For
Government And Not For Profit Accounting Concepts And Practices
ISBN: 9781119803898
9th Edition
Authors: Michael H. Granof, Saleha B. Khumawala, Thad D. Calabrese
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