A donor gave $1,200,000 to a private non-profit organization to be kept as an endowment. In addition,

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A donor gave $1,200,000 to a private non-profit organization to be kept as an endowment. In addition, the governing board permanently allocated $500,000 to the endowment.

In the Statement of Financial Position, how should these amounts be classified?

Related Book For answer-question

Essentials of Accounting for Governmental and Not-for-Profit Organizations

ISBN: 978-0073527055

10th Edition

Authors: Paul A. Copley

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Posted Date: Apr 17, 2023 04:33 AM

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A donor gave $1,200,000 to a private non-profit organization to be kept as an endowment. In addition,

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The 1200000 donated by the donor should be classi... View the full answer

Essentials of Accounting for Governmental and Not-for-Profit Organizations

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