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tester [92]
2 years ago
8

18. The following gifts are received in 2016 by a not-for-profit entity: I. $2,000 specified by the donor to be used to pay sala

ries. II. $10,000 specified by the donor for new conference room furniture. III. $5,000 specified by the donor to be held for one year before being expended. The salaries are paid in 2017 and the conference room furniture is purchased in 2016. The donor did not specify any time restriction on holding the conference room furniture. With respect to the donations received in 2016, what total amount should be recorded as an increase to Temporarily Restricted Net Assets
Business
1 answer:
xeze [42]2 years ago
4 0

Answer:

$7,000

Explanation:

Increase in Temporarily Restricted Net Assets = $2,000 + $10,000 + $5,000 = $17,000

Net increase in Temporarily Restricted Net Assets = Increase in Temporarily Restricted Net Assets - Amount of the conference room furniture purchased = $17,000 - $10,000 = $7,000

Note that the conference room furniture purchased is deducted because the donor did not stipulate a time restriction on holding the furniture.

Therefore, total amount should be recorded as an increase to Temporarily Restricted Net Assets is $7,000.

 

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Pace Co. borrowed $10,000 at a rate of 7.25%, simple interest, with interest paid at the end of each month. The bank uses a 360-
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Answer:

Explanation:

Amount of interest need to paid is 30 day month

= 10000×(1.075)×30/360 = 60.42

Simple interest formula is

Interest for year is = 10000×7.5% = 750

Per month is = 750×30/360 = 60.42

8 0
2 years ago
Balance sheet accounts are also called temporary accounts. true false
Vesnalui [34]
I do believe your answer would be true. 
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3 years ago
Kelly inherits land that had a basis to the decedent of $95,000 and a fair market value of $50,000 on August 4, 2019, the date o
expeople1 [14]

Answer:

A. ($1,000).

Explanation:

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8 0
3 years ago
A firm is reviewing an investment opportunity that requires an initial cash outlay of $336,875 and promises to return the follow
Fofino [41]

Answer:

The NPV of this investment is $64,581.75

Explanation:

Hi, we need to discount to present value all the future cash flows, the formula to use is as follows:

NPV=-Investment+\frac{CF1}{(1+r)^{1} }+\frac{CF2}{(1+r)^{2}} +\frac{CF3}{(1+r)^{3}} +\frac{CF4}{(1+r)^{4}} +\frac{CF5}{(1+r)^{5}}

Where

NPV = Net Present Value

CF = The cash flow stated in the problem by year

r= discount rate (in our case, 0.08 or 8%)

Now, let´s solve this.

NPV=-336,875+\frac{100,000}{(1+0.08)^{1} }+\frac{82,000}{(1+0.08)^{2}} +\frac{76,000}{(1+0.08)^{3}} +\frac{111,000}{(1+0.08)^{4}} +\frac{142,000}{(1+0.08)^{5}}

NPV=-336,875+ 92,592.59 + 70,301.78 + 60,331.25 + 81,588.31+96,642.81

NPV=64,581.75

So, the net present value of this project is $64,581.75

Best of luck.

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