During the year ended June 30, 2020, Hopkins College, a private college, received a federal government grant of $800,000 for res

Question

3 years ago

12

During the year ended June 30, 2020, Hopkins College, a private college, received a federal government grant of $800,000 for res

earch on the role of music in improving math skills for students. Expenses that were not capital in nature for this research amounted to $100,000 during the same year. Under FASB standards, which of the following best represents how Hopkins College would report this nonexchange transaction in the net assets section for the year ended June 30, 2020? Without Donor Restrictions With Donor Restrictions A. $ 0 $ 800,000 B. $ 0 $ 700,000 C. $ 100,000 $ 700,000 D. $ 800,000 $ 0 Multiple Choice Choice C. Choice D. Choice A. Choice B

Business

1 answer:

ratelena [41] · Answer 1 · 2022-02-20T18:34:20+03:00

ratelena [41]3 years ago

8 0

Answer:

b

Explanation: