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3 years ago

Record the journal entry that would be made by a nongovernmental, not-for-profit organization involved in medical research.

Business

1 answer:

ra1l [238]3 years ago

6 0

Answer:

S/n Journal Entry Debit Credit

1 Cash $1,500

Contributions-Unrestricted $500

Contributions-Temporarily Restricted $1,000

2 Pledges Receivable $700,000

Contributions-Permanently Restricted $700,000

3 Medical Research Program Expenses $1,200

Contributions-Unrestricted $1,200

4 Medical Research Program Expenses $5,000

Cash $5,000

Net Assets Release - Satisfaction of $5,000

Program Restrictions - Temporarily

Restricted

Net Assets Released- Satisfaction of $5,000

Program Restrictions-Unrestricted

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2 years ago

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3 years ago

With an increase in marketing expenditure, market demand ______. A) continues to increase at an increasing rateB) initially incr

morpeh [17]

Answer:

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3 years ago

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3 years ago

On January 1, 2008, Pacer Company paid $1,920,000 for 60,000 shares of Lennon Co.’s voting common stock which represents a 45% i

Fittoniya [83]

Answer:

The balance in the Investment in Lennon Co.account found in the financial records of Pacer as of December 31, 2008 was $2,071,500

Explanation:

In order to calcuate the balance in the Investment in Lennon Co.account found in the financial records of Pacer as of December 31, 2008 we would have to calculate the following formula:

Net balance=Investment made+share of net income-dividend

Investment made = $1,920,000

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Therefore, Net balance= $1,920,000 + $301,500 - $150,000

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3 years ago