Accounting For Governmental & Nonprofit Entities
18th Edition
ISBN: 9781259917059
Author: RECK, Jacqueline L., Lowensohn, Suzanne L., NEELY, Daniel G.
Publisher: Mcgraw-hill Education,
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Question
Chapter 15, Problem 7Q
To determine
Define split-interest agreement explain the reasons for entering into such agreement by the donor or university.
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What are restricted assets and how are they shown in the financial statements? Explain how restricted gifts and grants are reported by a public college or university and a private college or university?
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Chapter 15 Solutions
Accounting For Governmental & Nonprofit Entities
Ch. 15 - Prob. 1QCh. 15 - Prob. 2QCh. 15 - Prob. 3QCh. 15 - Prob. 4QCh. 15 - Prob. 5QCh. 15 - Prob. 6QCh. 15 - Prob. 7QCh. 15 - What is UPMIFA, and why is it important to...Ch. 15 - How can the performance of colleges and...Ch. 15 - Prob. 10Q
Ch. 15 - Prob. 12CCh. 15 - Prob. 14CCh. 15 - Prob. 15.1EPCh. 15 - Prob. 15.2EPCh. 15 - Prob. 15.3EPCh. 15 - Prob. 15.4EPCh. 15 - Prob. 15.5EPCh. 15 - Prob. 15.6EPCh. 15 - Prob. 15.7EPCh. 15 - Prob. 15.8EPCh. 15 - Prob. 15.9EPCh. 15 - Prob. 15.10EPCh. 15 - Prob. 16EPCh. 15 - Prob. 17EPCh. 15 - Prob. 18EPCh. 15 - Prob. 19EPCh. 15 - Prob. 20EPCh. 15 - Prob. 21EPCh. 15 - Prob. 22EPCh. 15 - Prob. 23EP
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- How does a recipient not-for-profit entity record the receipt of a gift that will be transferred without restriction to another charitable entity? What if the donor retains the right to revoke or redirect the gift?arrow_forwardCan you distinguish between the accounting treatment of time-restricted pledges by private and public sector colleges and universities?arrow_forwardWhat is the major difference between a for-profit and a not-for-profit organization?arrow_forward
- What financial statements are required for private not-for-profit colleges and universities?arrow_forwardIs this set up possible? X a charitable corporation entered into a joint arrangement with SMC private corporation, how would you account for that?arrow_forwardWhat are unrestricted funds? Does grant funding typically consist of restricted or unrestricted funds? What is the difference between a grant and a contract?arrow_forward
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- What are the three categories of contributions based on donor intent? pease answer in detailarrow_forwardUnder GAAP, for nonprofit, nongovernmental entities, an unconditional transfer of cash or other assets to an entity, or a settlement or cancellation of its liabilities in a voluntary, non-reciprocal transfer, is called a(n) A) unconditional promise to give. B) contribution. C) conditional promise to give. D) residual equity transfer.arrow_forward
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