Here is a challenging problem Problem 3 - The American Cancer Society, a not for profit...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Here is a challenging problem Problem 3 - The American Cancer Society, a not for profit entity, had the following transactions; 1/1/20 Received a $50,000 donation for general operations, however the donors stipulated that the money could not be spent until after 6/30/20. 1/4/20 Received a $20,000 donation to specifically used to create anti smoking campaigns for teenagers. The donor also stipulated that the money could be spent until after 6/30/20. 8/1/20 Spent $50,000 of the 1/1/20 donation on general operations 9/1/20 Spent $20,000 of the 1/4/20 donation creating the anti smoking campaign Required; Prepare the journal entries for the above transactions. Remember to note whether the involved are restricted or unrestricted. order Someon Here is a challenging problem Problem 3 - The American Cancer Society, a not for profit entity, had the following transactions; 1/1/20 Received a $50,000 donation for general operations, however the donors stipulated that the money could not be spent until after 6/30/20. 1/4/20 Received a $20,000 donation to specifically used to create anti smoking campaigns for teenagers. The donor also stipulated that the money could be spent until after 6/30/20. 8/1/20 Spent $50,000 of the 1/1/20 donation on general operations 9/1/20 Spent $20,000 of the 1/4/20 donation creating the anti smoking campaign Required; Prepare the journal entries for the above transactions. Remember to note whether the involved are restricted or unrestricted. order Someon
Expert Answer:
Answer rating: 100% (QA)
Answer journal entry Date particulars 2020 Cash mis... View the full answer
Related Book For
Posted Date:
Students also viewed these mathematics questions
-
Required Prepare General Journal entries to record the following transactions of Billington Company. 2015 Jan. 10, Accepted a $3,000, 60-day, 6% note dated this day in granting a time extension on...
-
Required Prepare General Journal entries to record the following transactions of Leduc Company: 2014 Dec 11 Accepted a $15,000, 6%, 60-day note dated this day in granting Fred Calhoun a time...
-
The American Cancer Society is beginning a study to learn why some people never get cancer. To take part in the study, a person must be 3065 years of age and never had cancer. The study requires that...
-
The article Mutational Landscape Determines Sensitivity to PD-1 Blockade in Non-Small Cell Lung Cancer (Science, 3 April 2015) described a study of 16 cancer patients taking the drug Keytruda. For...
-
Describe the cash flows between a firm and its stakeholders .
-
What do you see as advantages of positive and negative appeals? Illustrate your answer with specific messages, advertisements, or posters.
-
Inherent Risk. Microsoft and Netscape were in fierce competition for dominance of the Internet web browser and software market in 1996. Netscape entered the Internet web browser market first and...
-
Damico Company's Board Division manufactures an electronic control board that is widely used in high-end DVD players. The cost per control board is as follows: Variable cost per board . . . . . . . ....
-
Question 3, I upload my question in the gallery, pls find the uploaded file. ooo Optus 48 12:06 PM 1 54% ED
-
Lombard Ltd has been offered a contract for which there is available production capacity. The contract is for 20,000 identical items, manufactured by an intricate assembly operation, to be produced...
-
Which of the following forms or schedules is correct for reporting Oregon itemized deductions? Question 23Select one: a. No additional form needs to be completed, the taxpayer will need to attach...
-
.DCT Corporation are in the manufacturing of soft drinks and produces three products X, Y and Z. During the year 2014, the joint costs of processing the three products were SAR 450,000. The following...
-
Cooke Co. Cooke's balances at the beginning of the year were as follows: Cash $400 Inventory $800 Accounts Receivable, net of allowance $320 Property, Plant, and Equipment, net of Accumulated...
-
Mr. John Nicos, financial manager of Cbles Chat Lte (CCL), must choose between two investment projects intended to increase the company's capacity to meet growing customer demand. The Refit project...
-
Mid-Valley Travel Agency (MVTA) has offices in 12 cities. The company believes that its monthly airline bookings are related to the mean income in those cities and has collected the following data:...
-
Bagels sell for $5.40 per dozen. They cost $3.80 per dozen to make. . All bagels not sold at the end of the day are sold at half-price to a local grocery store. . Based on 5 days of simulation, how...
-
n job enrichment, task identity means that _____. workers complete tasks with clear beginnings and endings workers can use a range of different skills workers receive clear, frequent information about
-
Write a paper about how diet relates to breast cancer in women study design to use: case control study purpose & rationale the purpose of this final project is to utilize the methods and...
-
Suppose the union's resistance curve is summarized by the following data. The union's initial wage demand is $10 per hour. If a strike occurs, the wage demands change as follows: Length of Strike:...
-
(a) According to standard migration theory, how will skill selection (positive vs. negative) change on average as the distance between the source country and the destination country increases? (b)...
-
Suppose the marginal revenue from search is MR = 50 - 1.5w, where w is the wage offer at hand. The marginal cost of search is MC = 5 + w. (a) Why is the marginal revenue from search a negative...
-
Sec uses 60 000 tons of salt over a 50-week working year. It costs 100 to order salt and delivery follows two weeks later. Storage costs for the salt are expected to be 0.10 per ton per year. The...
-
Calculate the following values assuming a discount rate of 12 per cent: (a) 500 compounded for five years; (b) the present value of 500 to be received in five years time; (c) the present value of 500...
-
Brown Ltd is considering buying a new machine which would have a useful economic life of five years, a cost of 125 000 and a scrap value of 30 000, with 80 per cent of the cost being payable at the...
Study smarter with the SolutionInn App