Answer and Explanation:
The answer is attached below
Answer:
Statement of Net Assets or statement of financial position.
Explanation:
Statement of net assets shows the permanently restricted, temporarily restricted, and unrestricted funds. This is represented into he equity section.
A template for the creation of statement of financial position is provided by the IRS form 990.
Unrestricted assets are donations to the organisation that can be used for general expenses.
Temporarily restricted assets are set aside for a particular project by donors
Permanently restricted assets are those that are invested in perpetuity, and the revenue earned is used for a specific purpose.
<span>b. debit interest receivable for $500 and credit interest revenue for $500
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Answer:
Total Claim = $2416
Explanation:
The coverage on the currency = $250
The coverage on the jewelry = $1000
The limit on the gold, pewter, and silver = $2500
The amount that is stolen:
The amount of cash = $270
The worth of jewelry = $1734
Pewterware = $1666
The miximum coverage = 250 + 1000 + 2500 = $3750
Actual loss = 270 + 1734 + 1666 = $3670
Reimbursement amount = 250 + 1000 + 1666 = $2916
Total Claim = Total Amount Covered – Deductible
Total Claim = $2916 - $500 = $2416
