RR
Rosalinda Rostro
Answers (6)
RR
Answered
Contributions received by NFPs may be restricted. Funds can be received in the form of endowment contributions and contributions that are externally restricted by the donor or internally restricted by the board.
Required:
Explain the differences between endowment contributions and contributions that are externally restricted by the donor or internally restricted by the board. Discuss the accounting treatment for each type of restricted contribution if the NFP uses the deferral method of reporting.
Required:
Explain the differences between endowment contributions and contributions that are externally restricted by the donor or internally restricted by the board. Discuss the accounting treatment for each type of restricted contribution if the NFP uses the deferral method of reporting.
On Jul 16, 2024
Endowment contributions are contributions for which the principal can never be spent and only the earnings on the principal can be used for specified purposes. The initial contribution is recorded directly as an increase to net assets. The income earned annually is deferred and recognized as the specified expenses are incurred and recognized.
Contributions that are restricted by the donor can only be used for the purposes specified by the donor. The accounting treatment depends on whether the contribution is for current expenses or future expenses. If the contribution is for current expenses, then the revenue is recognized in the current period. If the contribution is for future expenses, then the revenue is deferred until the future expenses are recognized.
Contributions that are restricted internally by the board are funds that the board has specified to be used for special purposes. However, the board may change its mind at any time and, as such, does not have the same importance for accounting as do the restrictions imposed by the donors. However, based on management's reporting objectives, these contributions could also be deferred and recognized when the specified expenses are incurred and recognized in the statements.
Contributions that are restricted by the donor can only be used for the purposes specified by the donor. The accounting treatment depends on whether the contribution is for current expenses or future expenses. If the contribution is for current expenses, then the revenue is recognized in the current period. If the contribution is for future expenses, then the revenue is deferred until the future expenses are recognized.
Contributions that are restricted internally by the board are funds that the board has specified to be used for special purposes. However, the board may change its mind at any time and, as such, does not have the same importance for accounting as do the restrictions imposed by the donors. However, based on management's reporting objectives, these contributions could also be deferred and recognized when the specified expenses are incurred and recognized in the statements.
RR
Answered
On a tropical island there are 100 potential boat builders, numbered 1 through 100.Each can build up to20 boats a year, but anyone who goes into the boatbuilding business has to pay a fixed cost of $19.Marginal costs differ from person to person.Where y denotes the number of boats built per year, boat builder 1 has a total cost function c(y) 19 y.Boat builder 2 has a total cost function c(y) 19 2y, and more generally, for each i, from 1 to 100, boat builder i has a cost function c(y) 19 iy.If the price of boats is 25,how many boats will be built per year?
A) 480
B) 120
C) 60
D) 720
E) Any number between 500 and 520 is possible.
A) 480
B) 120
C) 60
D) 720
E) Any number between 500 and 520 is possible.
On Jul 15, 2024
A
RR
Answered
The primacy effect is a perceptual distortion in which an individual is judged based on the first information encountered, whereas the recency effect is a perceptual distortion in which an individual is judged based on ______.
A) the most recent information available
B) a comparison to a similar person
C) how we think or feel about the person
D) beliefs about that person's group
A) the most recent information available
B) a comparison to a similar person
C) how we think or feel about the person
D) beliefs about that person's group
On Jun 16, 2024
A
RR
Answered
A union might increase the demand for the labor services of its members by:
A) decreasing the demand for the product it is producing.
B) decreasing the prices of complementary inputs.
C) decreasing the prices of substitute inputs.
D) increasing the prices of complementary inputs.
A) decreasing the demand for the product it is producing.
B) decreasing the prices of complementary inputs.
C) decreasing the prices of substitute inputs.
D) increasing the prices of complementary inputs.
On Jun 15, 2024
B
RR
Answered
Cemex's Shift and Red Robin's Yammer are examples of which type of social network?
A) Private
B) Public,specialized
C) Public,general-purpose
D) Integrated
E) Brand communities
A) Private
B) Public,specialized
C) Public,general-purpose
D) Integrated
E) Brand communities
On May 16, 2024
A