No handwriting or photo A Not-For-Profit Organization (NFPO) received three cash donations: a) SAR 10,000 from...
No handwriting or photo
A Not-For-Profit Organization (NFPO) received three cash donations: a) SAR 10,000 from a donor who said it must be used only for research into a new method for treating substance abusers b) SAR 14,000 from a donor who said it may be used for any purpose the trustees choose, but not until the following year; and c) SAR 50,000 from a donor who said the gift must be maintained in perpetuity, with the income from it to be used for any purpose the trustees choose. Pass the journal entry in the Book of NFPO.
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No handwriting or photo
A Not-For-Profit Organization (NFPO) received three cash
donations: a) SAR 10,000 from...
A Not-For-Profit Organization (NFPO) received three cash donations: a) SAR 10,000 from a donor who said...
A Not-For-Profit Organization (NFPO) received three cash donations: a) SAR 10,000 from a donor who said it must be used only for research into a new method for treating substance abusers b) SAR 14,000 from a donor who said it may be used for any purpose the trustees choose, but not until the following year; and c) SAR 50,000 from a donor who said the gift must be maintained in perpetuity, with the income from it to be used for...
The University of Danville is a private not-for-profit university that starts the current year with $700,000...
The University of Danville is a private not-for-profit
university that starts the current year with $700,000 in net
assets: $400,000 without donor restrictions and $300,000 with donor
restrictions. The $300,000 is composed of $200,000 with purpose
restrictions and $100,000 that must be held permanently.
The following transactions occurred during the year.
Charged students $1.2 million for tuition and fees.
Received a donation of equity investments that had cost the
owner $100,000 but is worth $300,000 currently. According to the
terms...
1 -6 nts eBook Print The Watson Foundation, a private not-for-profit entity, starts 2020 with cash...
1 -6 nts eBook Print The Watson Foundation, a private not-for-profit entity, starts 2020 with cash of $100,000, contributions receivable (net) of $200,000, investments of $300,000, and land, buildings, and equipment (net) of $200,000. Net assets without donor restrictions were reported as $400,000, the same figure as the net assets with donor restrictions. Of the restricted net assets, $300,000 was purpose restricted whereas the other $100,000 had to be held permanently, although the subsequently earned income is without restriction. Fifty...
The University of Danville is a private not-for-profit
university that starts the current year with $700,000 in net
assets: $400,000 without donor restrictions and $300,000 with donor
restrictions. The $300,000 is composed of $200,000 with purpose
restrictions and $100,000 that must be held permanently.
The following transactions occurred during the year.
Charged students $1.2 million for tuition and fees.
Received a donation of equity investments that had cost the
owner $100,000 but is worth $300,000 currently. According to the
terms...
1 -6 nts eBook Print The Watson Foundation, a private not-for-profit entity, starts 2020 with cash of $100,000, contributions receivable (net) of $200,000, investments of $300,000, and land, buildings, and equipment (net) of $200,000. Net assets without donor restrictions were reported as $400,000, the same figure as the net assets with donor restrictions. Of the restricted net assets, $300,000 was purpose restricted whereas the other $100,000 had to be held permanently, although the subsequently earned income is without restriction. Fifty...
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