To login with Google, please enable popups
Forgot your password?
Don’t have an account? Sign up
To signup with Google, please enable popups
Sign up with Google or Facebook
To sign up you must be 13 or older. Other people won’t see your birthday.
By signing up I agree to StudyBlue's
Already have an account? Log in
The following gifts are received in Year One by a not-for-profit organization:
I. $2,000 specified by the donor to be used to pay salaries.
II. $10,000 for new conference room furniture.
III. $5,000 to be held for one year before being expended. The salaries are paid in Year Two and the conference room furniture is purchased in Year One. 10. How much should be shown as increases as Temporarily Restricted Net Assets in Year One?
A private not-for-profit health care organization has the following account balances:
Revenue from newsstand: 50,000
Amounts charged to patients: 800,000
Interest Income: 30,000
Salary Expense-nurse: 100,000
Bad debts: 10,000
Undesignated gifts: 80,000
Contractual adjustments: 110,000
What is recorded on net patient service revenue?
Which of the following are true?
Private not-for-profit universities must report depcreciation expense.
Public universities must report depreciation expense..
A private not-for-profit organization recieves three donations:
1) gift of $70,000 is unrestricted
2) gift of $90,000 is restricted to pay workers salary
3) gift of $120,000 is restriced forever with the income to be used to provide food for needy families.
Which of the following is not true?
A private not-for-profit organization has the following activities performed by volunteers who work at no charge. In which case should it report no amount of contributions?
In computing federal estate taxes, deductions from an estate's value are allowed for all of the following except?
Nancy Hanks reported:
Value of Estate assets: 1,400,000
Conveyed to spouse: 700,000
Conveyed to children: 100,000
conveyed to charity: 420,000
funeral expenses: 50,000
Administrative expenses: 20,000
What is taxable estate value?
An estate has the following income:
Rental income: 5000
Interest income: 3000
Dividend Income: 1000
The interest income was immediately conveyed to the appropriate beneficiary. The dividends were given to charity as per the decendant's will. What is the taxable income of the estate.
In a reporting company that is to be liquidated, assets are shown at
Sign up for free and study better. Anytime, anywhere.
Get started today!