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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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Marcy's, Inc., operates department stores located primarily in the Southwest, Southeast, and Midwest. In its 2016 third-quarter
marysya [2.9K]

Answer:

Purchases is $3400  million

Explanation:

Cost of goods formula comes readily helpful in this case.

Cost of goods sold=beginning inventory+purchases-ending inventory

by arranging the formula,the purchases formula is given thus:

Purchases=cost of goods sold-beginning inventory+ending inventory

cost of goods sold is $2,900 million

ending inventory is $4,600 million

beginning inventory is $4,100 million

purchases=($2,900-$4,100+$4,600) million

purchases=3400  million

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3 years ago
Bernard did not glance at the visiting card given by his Chinese client and simply stuffed it in his pocket. Which socio cultura
Amanda [17]
Behavior I'm pretty sure
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2 years ago
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Which of these guidelines helpful to maximizing the effectiveness of a brainstorming session is defined as, "Participants are en
astra-53 [7]

Answer:

The answer is a. Respectful communication.

Explanation:

Respectful communication involves encouraging participants to exchange ideas, further develop those ideas during the session, and to respect the opinions of others

6 0
2 years ago
Gavin tells Rod that he will pay him $400 to paint his house. Rod starts to paint, intending to accept. Halfway through his pain
natta225 [31]

Answer:

Gavin is allowed to revoke if he finds Rod's efforts half-hearted

Explanation:

given  data      

Gavin pay  for paint his house = $400

solution

as given Gavin pay Rod for paint his house at $400 but  Gavin want to revoke the offer so Either he accepts, or he does not accept the offer.

If he starts to paint the offer, and Gavin doesn't like his work, the offer may be canceled.

so scenario is Gavin is allowed to revoke if he finds Rod's efforts half-hearted

7 0
2 years ago
Natural Corporation often fails to file the annual reports required by law. They also have failed to conduct annual shareholders
Bas_tet [7]

Answer: The shareholders could lose their investments.

Explanation:

The above scenario given in the question will lead to shareholders losing their investments. This is because the shareholders are not carried along with regards to happening in the company.

Also, the company is not filing the annual reports required by law and they also have failed to conduct annual shareholders meeting and their bylaws have been out of date and not followed for about four years. Also, their stock prices can be discounted due to improper practices.

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3 years ago
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