For each of the independent transactions listed, indicate which of the revenue or contribution classifications apply by
Question:
Transcribed Image Text:
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.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (10 reviews)
1 a 2 d conditional promises are not recogni...View the full answer
Answered By
Nazrin Ziad
I am a post graduate in Zoology with specialization in Entomology.I also have a Bachelor degree in Education.I posess more than 10 years of teaching as well as tutoring experience.I have done a project on histopathological analysis on alcohol treated liver of Albino Mice.
I can deal with every field under Biology from basic to advanced level.I can also guide you for your project works related to biological subjects other than tutoring.You can also seek my help for cracking competitive exams with biology as one of the subjects.
3.30+
2+ Reviews
10+ Question Solved
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
Question Posted:
Students also viewed these Business questions
-
For each of the independent transactions listed in the left-hand column below, indicate which of the revenue or contribution classifications apply by choosing one or more of the letters from the...
-
Classification of Revenues/Support and Expenses. For each of the independent transactions listed in the left-hand column below, indicate which of the revenue/support or expense classifications apply...
-
Listed are four independent situations involving transactions between individuals and an NFP organization. 1. Jane is president of an IRC Sec. 501(c)(3) public charity and personally owns a building...
-
Consider the agency relationship in malpractice cases under a contingency fee system. The plaintiff (party that sues) typically pays his or her attorney about one-third of any monetary damages that...
-
Assessing servant leadership from a biblical perspective, ensure that your answer confirms the following requirements. - A biblical analysis of the key ideas associated with Greenleaf's servant...
-
A chessboard consists of 64 squares, as shown in Figure 1.19. The rook can move one or more squares horizontally or vertically. Suppose a rook is in the upper-left-hand corner of a chessboard. Tell...
-
In accordance with the assignment technique, discuss the various control techniques that will be used with this specific design. Develop a hypothetical research scenario that would necessitate the...
-
A city included the schedule that follows in its ï¬nancial statements. 1. Prepare entries to reï¬ect the activity relating to improvements and equipment in both the general-fund and...
-
identify the constraints and suggest some recommendations for improving the sustainable long-term economic growth and development in the African countries mineral beneficiation process.
-
Complete the function listmodn that, given an input list alist, an input value n, and an input index i, will attempt perform the modulo n operation on the i-th element of alist and return this value....
-
What criteria must be met before an NFP organization can record donated services? If the criteria are met, how should donated services be recorded? Give examples to support your answer.
-
Using the finance or similarly named department link of a city or countys website, locate the governments comprehensive annual financial report (CAFR). (You also may be able to find the governments...
-
The following are independent situations. (a) Janice Martin was an employee of XYZ Ltd. She was required to use her car in her employment duties and at the end of last year the UCC of her car (Class...
-
Given monthly mortgage payments of $1100, heating costs of $250/month, property taxes of $150/month, and a car loan of $600/month, determine the Total Debt Service Ratio (TDS) if the client has a...
-
What would the monthly payment amount be for a mortgage with an amortization period of 20 years, taken out at 2.94% compounded semi-annually, with an original principal amount of $400000? Your Answer:
-
Dandil owes two debt payments a payment of $5652 that was due today and a payment of $1803 due in 13 months. If Greg makes a payment now of $1000 and another payment in 7 months, what would this...
-
People in groups often display disruptive behavior. Identify the types of disruptive behavior and what strategies would be effective in dealing with this disruptive behavior? Have you ever engaged in...
-
If a loan of $24000 is taken out at an interest rate of 3.1% compounded monthly and a term of 15 years, what will the balance be after 22 payments, assuming monthly payments? Your Answer:
-
How could companies manage bullying through performance feedback?
-
The first law of thermodynamics is sometimes whimsically stated as, You cant get something for nothing, and the second law as, You cant even break even. Explain how these statements could be...
-
The government-wide financial statements for the City of Arborland for a three-year period are presented on the following pages. Additional information follows: Population: Year 2014: 30,420, Year...
-
What is the purpose of an audit? What are the three types of auditor services described in the Government Accountability Offices Government Auditing Standards (yellow book), and how do they differ?
-
Under the hierarchy of GAAP, what sources of accounting principles have the most authority for state and local governments, federal government entities, and nongovernmental entities? Where do...
-
2. (20pts) Consider MIPS Instruction Stream: add $s2, St2, $t0 lw $t5, 48($t3) sub $12, $s2, $13 (a) Identify all hazards for the instruction stream. (b) If the instruction stream generates hazards,...
-
Write a C program named as countD.c that takes input text file and a digit as arguments, outputs how many times the digit appears in the file. If the text file does not exist, print out an error...
-
Create a simple "web-app" that we created using client-side HTML form, come up with our very own (custom-built) JS calculator. One possible "look and feel" is shown below in attached screen-shot (CSS...
Study smarter with the SolutionInn App