At the beginning of FY 2020, a not-for-profit homeless shelter receives a donated van worth $30,000. The van has a salvage value of $1,000 and an estimated useful lifetime of 6 more years. What net effect would the above transactions have on the change in net assets shown on the organization's activity statement at the end of FY 2020, all else equal?

Answer rating: 100% (QA)

The net effect on the change in net assets for the organization at the end ... View the full answer