Business, 08.07.2020 02:01, afropenguin2853
Hope received $34,000 in cash from pledges made in the previous year that were unrestricted as to purpose but intended to be expended in 2017.Hope received $93,000 in pledges that indicated the money would be received in 2018. The donors imposed no restrictions other than the money could be used for any purpose desired by the board. Hope expended $41,000 for nursing training, using $36,000 of temporarily restricted resources that had been given in 2016 for that purpose. Hope received $52,000, restricted by the donor for cancer research. The funds were not expended in 2017. This is a fixed dollar, not cost reimbursement, grant. Hope received $271,000 in cash. The board decided to invest the funds for future plant expansion. Required:Record the above transactions on the books of Hope Hospital, which follows FASB (not-for-profit) and AICPA standards. The year is 2017. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)Transaction List:1 Hope received $34,000 in cash from pledges made in the previous year that were unrestricted as to purpose but intended to be expended in 2017. Record the cash from the pledges made in the previous year.2 Hope received $93,000 in cash from pledges made in the previous year that were unrestricted as to purpose but intended to be expended in 2017. Record the reclassification of the pledges received in the previous year.3 Hope received $93,000 in pledges that indicated the money would be received in 2018. The donors imposed no restrictions other than the money could be used for any purpose desired by the board.4 Record the expense on nursing training.5 Record the transfer from temporarily restricted resources that had been given in 2016 for the purpose of nurse training.6 Hope received $52,000, restricted by the donor for cancer research. The funds were not expended in 2017. This is a fixed dollar, not cost reimbursement, grant.7 Record the receipt in cash.8 Record the investment of the funds for future plant expansion.9 Record the demarcation of net assets-unrestricted for plant expansion.
Answers: 2
Other questions on the subject: Business
Business, 21.06.2019 17:50, ineedhelp2285
When selecting stock, some financial experts recommend to look at the opening price go with what you know examine the day’s range, earnings per share, and p/e ratio divide the dividend by the asking price
Answers: 2
Business, 22.06.2019 07:00, ladybugys
Pennewell publishing inc. (pp) is a zero growth company. it currently has zero debt and its earnings before interest and taxes (ebit) are $80,000. pp's current cost of equity is 10%, and its tax rate is 40%. the firm has 10,000 shares of common stock outstanding selling at a price per share of $48.00. refer to the data for pennewell publishing inc. (pp). pp is considering changing its capital structure to one with 30% debt and 70% equity, based on market values. the debt would have an interest rate of 8%. the new funds would be used to repurchase stock. it is estimated that the increase in risk resulting from the added leverage would cause the required rate of return on equity to rise to 12%. if this plan were carried out, what would be pp's new value of operations? a. $484,359 b. $521,173 c. $584,653 d. $560,748 e. $487,805
Answers: 1
Business, 22.06.2019 14:30, ayoismeisjjjjuan
Amethod of allocating merchandise cost that assumes the first merchandise bought was the first merchandise sold is called the a. last-in, first-out method. b. first-in, first-out method. c. specific identification method. d. average cost method.
Answers: 3
Business, 22.06.2019 18:00, dpazmembreno
Carlton industries is considering a new project that they plan to price at $74.00 per unit. the variable costs are estimated at $39.22 per unit and total fixed costs are estimated at $12,085. the initial investment required is $8,000 and the project has an estimated life of 4 years. the firm requires a return of 8 percent. ignore the effect of taxes. what is the degree of operating leverage at the financial break-even level of output?
Answers: 3
Do you know the correct answer?
Hope received $34,000 in cash from pledges made in the previous year that were unrestricted as to pu...
Questions in other subjects:
Mathematics, 30.07.2020 03:01
History, 30.07.2020 03:01
