1. Mike Lindell donated $200,000 to Habitat for Humanity, a non profit. This donation was restricted to be used for buying beds for rehabbed houses for the poor. The journal entry by Habitat for Humanity for the donation should be:

2. Habitat for Humanity received a $200,000 grant to purchase a home for the Pederson family. No variance power was given as to the use of the proceeds. At the date of contribution, write the journal entry by H for H to record the initial receipt:

3.Eastern University, a private non profit university, received the following amounts during fiscal 2020

- tuition charged. 10,000,000

- less financial aid grants to students. 3,000,000'

Total receipts. = 7,000,000

How should the financial aid grants to students be reported in the statement of activities?

Answer rating: 100% (QA)

1 3 The financial aid grants to students should be reported in the statement of activities as a d... View the full answer