In 2018, the Board of Trustees of Ayala Foundation designated an amount of current funds for college scholarships. Also in 2018, the foundation received a bequest of P315,000 from an estate of a benefactor who specified that the bequest was to be used for hiring teachers to tutor handicapped students. P 208,000 of its What amount should be accounted for as current unrestricted funds?
In 2018, the Board of Trustees of Ayala Foundation designated an amount of current funds for college scholarships. Also in 2018, the foundation received a bequest of P315,000 from an estate of a benefactor who specified that the bequest was to be used for hiring teachers to tutor handicapped students. P 208,000 of its What amount should be accounted for as current unrestricted funds?
Chapter15: Exempt Entities
Section: Chapter Questions
Problem 11DQ
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Transcribed Image Text:In 2018, the Board of Trustees of Ayala Foundation designated an amount of
current funds for college scholarships. Also in 2018, the foundation received a bequest of P315,000
P 208,000 of its
from an estate of a benefactor who specified that the bequest was to be used for hiring teachers to
tutor handicapped students.
What amount should be accounted for as current unrestricted funds?
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