Indicate how the following contributed service would be recorded by a private, non-profit organization:
A member of the accounting faculty at the local university (specializing in taxes) donates his time to teach senior citizens how to fill out their tax returns. Last year the senior center hired a CPA for the program.
1. The contribution is not recorded.
2. The contribution is recorded as revenue with an equal amount recorded as expense.
3. The contribution is recorded as revenue with an equal amount recorded as "other financing uses."
4. The contribution is recorded as an asset with an equal amount recorded as expense.
5. The contribution is recorded as an asset with an equal amount recorded as contribution revenue.
Answers: 1
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Business, 22.06.2019 12:00, kaylallangari549
In the united states, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. in the united kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. the united kingdom has a comparative advantage in the production of:
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Six years ago, an 80-kw diesel electric set cost $160,000. the cost index for this class of equipment six years ago was 187 and is now 194. the cost-capacity factor is 0.6. the plant engineering staff is considering a 120-kw unit of the same general design to power a small isolated plant. assume we want to add a precompressor, which (when isolated and estimated separately) currently costs $13291. determine the total cost of the 120-kw unit. (hint: skip $ and comma symbols)
Answers: 3
Indicate how the following contributed service would be recorded by a private, non-profit organizati...
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