This is the answer to your question
Answer: $294,000
Explanation:
Gift of $71,000 is <u>time restricted</u> as it cannot be spent for 4 years.
Gift of $91,000 is <u>purpose restricted</u> as it must be used for the purpose of salaries.
Gift of $121,000 is <u>permanently restricted</u> as it must be held forever.
Income earned from the above gift of $11,000 is <u>purpose restricted</u> for needy families.
The gifts with donor restrictions total:
= 71,000 + 91,000 + 121,000 + 11,000
= $294,000
Answer:
1.90%
Explanation:
There is the accordance or connection between nominal and real interest rates. It is basically possible to convert from nominal interest rates to real interest rates. According to the Fisher, there is a equation that's called the Fisher Equation:
Real interest rate ≈ nominal interest rate − inflation rate.
On our example,
Inflation rate in October- 3.33%
Inflation rate in November- 2.90%
Nominal interest rate in October- 4.75%
Nominal interest rate in November- 4.80%
In October,
Real interest rate=4.75%-3.33%=1.42%
In November,
Real interest rate=4.80%-2.90%=1.90%
As a result, we see that there is 1.90% real interest rate in November and the real interest rate has increased 0.48% in November compared to October.
Detailed information about the financial statement elements is maintained in records commonly called "Accounts'
An account in accounting is a general ledger entry that is used to categorize and record transactions. For example, businesses will have a Cash account where they may record each transaction that raises or reduces the amount of cash they have on hand.
Three different accounts exist.
- Real account: It links assets and obligations; it excludes accounts for specific individuals. They continue every year.
- Personal accounts link the accounts of people,
- Businesses, and organizations. All accounts for income, spending, losses and profits are related by a nominal account.
To learn more about financial statements
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