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Tpy6a [65]
2 years ago
8

A donor gave $75,000 to a nongovernmental, not-for-profit charity with instructions that the funds be transferred to Sam Smith,

an individual who lost his home in a fire. The not-for-profit would:
Business
1 answer:
yulyashka [42]2 years ago
6 0

Answer:

B) Record the $75,000 cash and credit a liability

Explanation:

Possible options:

  • A) Record the $75,000 cash and credit temporarily restricted revenue.
  • B) Record the $75,000 cash and credit a liability
  • C) Do either (a) or (b), depending upon the policy of the not-for-profit
  • D) Not record the transaction.

Non-for-profit charities must record all cash donations, but since the funds were donated for an specific purpose, their use is restricted. Therefore, the charity must record a liability (which has a normal credit balance).

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The executives for New Haus LLC set the retail objective for the company. These objectives are broken down in order to create th
yaroslaw [1]

Answer:

Top-down planning

Explanation:

Top-down planning  -

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To the extent that Italian Americans have intermarried with Anglo Americans and are proportionately represented in various socie
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3 0
3 years ago
What habit should you follow to avoid the risk of contracting illnesses and infections
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washing your hands would for sure be a habit you should follow to avoid illnesses and infections.

4 0
3 years ago
Creble Company reported net income for 2016 in the amount of $40,000. The company's financial statements also included the follo
WITCHER [35]

Answer:

$36,000

Explanation:

Net Cash = Net Income for 2016 - Accounts Receivable + Decrease in inventory + Depreciation expense - Gain on sale of equipment

=> Net Cash = $40,000 - $ 4,000 + $2,000 + $3,000 - $5,000

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3 0
3 years ago
Joe quits his computer programming​ job, where he was earning a salary of ​$65,000 per​ year, to start his own computer software
Verizon [17]

Answer:

The accounting cost and the economic cost associated with​ Joe's computer software business is $75,00 and the $165,000 respectively.

Explanation:

The computation of the accounting cost and the economic cost is shown below:

Accounting cost =  Other Expenses + Salary paid to himself

                           = $35000 + $40,000

                           = $75,000

Economic cost = Accounting cost + Salary expense + Rent expenses

                        = $75,000 + $65,000 + $25,000

                        = $165,000

8 0
3 years ago
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