Suppose the not-for-profit Bring the Noise, which supports local musicians, received the voluntary services of two accountants
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Suppose the not-for-profit Bring the Noise, which supports local musicians, received the voluntary services of two accountants who are CPAs. One accountant donated her time maintaining the general ledger and managing the annual audit for a total of 100 hours. The other accountant served on the board of directors which required 25 hours of meeting time focused exclusively on fundraising. If the accountants normally charge $500 per hour for their services, how much would the organization record as donated services (revenue and expense) during the year and why?
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Financial Management For Public Health And Not-for-Profit Organizations
ISBN: 9781071835333
7th Edition
Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell
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