A private not-for-profit entity receives three large cash donations: *One gift of $85,000 is restricted by the donor so that it can't be spent for four years *One gift of $105,000 is restricted to pay the salaries of the entity's workers *One gift of $135,000 must be held forever with the income to be used to provide food for needy families. In the current year, income of $25,000 was earned by not spent. WHat is the increase in the current year in net assets with donor restrictions? 220,000 240,000 350,000
A private not-for-profit entity receives three large cash donations: *One gift of $85,000 is restricted by the donor so that it can't be spent for four years *One gift of $105,000 is restricted to pay the salaries of the entity's workers *One gift of $135,000 must be held forever with the income to be used to provide food for needy families. In the current year, income of $25,000 was earned by not spent. WHat is the increase in the current year in net assets with donor restrictions? 220,000 240,000 350,000
Chapter19: Corporations: Distributions Not In Complete Liquidation
Section: Chapter Questions
Problem 33P
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A private not-for-profit entity receives three large cash donations:
*One gift of $85,000 is restricted by the donor so that it can't be spent for four years
*One gift of $105,000 is restricted to pay the salaries of the entity's workers
*One gift of $135,000 must be held forever with the income to be used to provide food for needy families. In the current year, income of $25,000 was earned by not spent.
WHat is the increase in the current year in net assets with donor restrictions?
220,000
240,000
350,000
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