ADVANCED FINANCIAL ACCOUNTING IA
12th Edition
ISBN: 9781260545081
Author: Christensen
Publisher: MCG
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Chapter 19, Problem 19.2C
(a)
To determine
Introduction: FAS 116 deals with the benchmark standards and disclosure and reporting requirements for contributions received and contributions made and financial accounting. This Statement provides standards for acknowledging the dead lines of restrictions on contributions received and for accounting for art work collection, historical treasures, and similar assets maintained by the organizations.
the accounting and financial statement disclosure to account for the given sum as unrestricted donations in the statement of activities.
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A voluntary health and welfare entity receives $32,000 in cash from solicitations made in the local community. The charity receives an additional $1,500 from members in payment of annual dues. Members are assumed to receive benefits approximately equal in value to the amount of dues paid. How should this money be recorded? Choose the correct.a. Revenues of $33,500.b. Public support of $33,500.c. Public support of $32,000 and a $1,500 increase in the fund balance.d. Public support of $32,000 and revenue of $1,500.
A voluntary health and welfare entity sends a mailing to all of its members including those who have donated in the past and others who have never donated. The mailing, which had a total cost of $22,000, asks for monetary contributions to help achieve the charity’s stated mission. In addition, 80 percent of the material included in the mailing is educational in nature, providing data about the entity’s goals. Which of the following is true?
Some part of the $22,000 should be reported as a program service cost because of the educational materials included.
No part of the $22,000 should be reported as a program service cost because there is no specific call to action.
No part of the $22,000 should be reported as a program service cost because the mailing was sent to both previous donors and individuals who have not made donations.
Some part of the $22,000 should be reported as a program service cost because more than 50 percent of the material was educational in nature.
A voluntary health and welfare entity sends a mailing to all of its members including those who have donated in the past and others who have never donated. The mailing, which had a total cost of $22,000, asks for monetary contributions to help achieve the charity’s stated mission. In addition, 80 percent of the material included in the mailing is educational in nature, providing data about the entity’s goals. Which of the following is true? Choose the correct.a. Some part of the $22,000 should be reported as a program service cost because of the educa-tional materials included.b. No part of the $22,000 should be reported as a program service cost because there is no specific call to action.c. No part of the $22,000 should be reported as a program service cost because the mailing was sent to both previous donors and individuals who have not made donations.d. Some part of the $22,000 should be reported as a program service cost because more than 50 percent of the material was educational…
Chapter 19 Solutions
ADVANCED FINANCIAL ACCOUNTING IA
Ch. 19 - Prob. 19.1QCh. 19 - Prob. 19.2QCh. 19 - Prob. 19.3QCh. 19 - Prob. 19.4QCh. 19 - Prob. 19.5QCh. 19 - Prob. 19.6QCh. 19 - Prob. 19.7QCh. 19 - Prob. 19.8QCh. 19 - Prob. 19.9QCh. 19 - Prob. 19.10Q
Ch. 19 - Prob. 19.11QCh. 19 - Prob. 19.12QCh. 19 - Prob. 19.13QCh. 19 - Prob. 19.14QCh. 19 - Prob. 19.15QCh. 19 - Prob. 19.16QCh. 19 - Prob. 19.17QCh. 19 - Prob. 19.18QCh. 19 - Should a rotary club, an ONPO, report depreciation...Ch. 19 - Prob. 19.20QCh. 19 - Prob. 19.1CCh. 19 - Prob. 19.2CCh. 19 - Prob. 19.3CCh. 19 - Prob. 19.4CCh. 19 - Prob. 19.5CCh. 19 - Prob. 19.7CCh. 19 - Prob. 19.1.1ECh. 19 - Prob. 19.1.2ECh. 19 - Prob. 19.1.3ECh. 19 - Prob. 19.1.4ECh. 19 - Prob. 19.1.5ECh. 19 - Prob. 19.1.6ECh. 19 - Prob. 19.2.1ECh. 19 - Prob. 19.2.2ECh. 19 - Prob. 19.2.3ECh. 19 - Prob. 19.2.4ECh. 19 - Prob. 19.2.5ECh. 19 - Prob. 19.2.6ECh. 19 - Prob. 19.2.7ECh. 19 - Prob. 19.2.8ECh. 19 - Prob. 19.2.9ECh. 19 - Prob. 19.2.10ECh. 19 - Prob. 19.2.11ECh. 19 - Prob. 19.2.12ECh. 19 - Prob. 19.3ECh. 19 - Prob. 19.4ECh. 19 - Prob. 19.5.1ECh. 19 - Prob. 19.5.2ECh. 19 - Prob. 19.5.3ECh. 19 - Prob. 19.5.4ECh. 19 - Prob. 19.5.5ECh. 19 - Prob. 19.5.6ECh. 19 - Prob. 19.5.7ECh. 19 - Prob. 19.5.8ECh. 19 - Prob. 19.5.9ECh. 19 - Prob. 19.6ECh. 19 - Prob. 19.7ECh. 19 - Prob. 19.8.1ECh. 19 - Prob. 19.8.2ECh. 19 - Prob. 19.8.3ECh. 19 - Prob. 19.8.4ECh. 19 - Prob. 19.8.5ECh. 19 - Prob. 19.8.6ECh. 19 - Prob. 19.8.7ECh. 19 - Prob. 19.8.8ECh. 19 - Prob. 19.8.9ECh. 19 - Prob. 19.8.10ECh. 19 - Prob. 19.9ECh. 19 - Prob. 19.10PCh. 19 - Prob. 19.11PCh. 19 - Prob. 19.12PCh. 19 - Prob. 19.13PCh. 19 - Prob. 19.14PCh. 19 - Prob. 19.15PCh. 19 - Prob. 19.16PCh. 19 - Prob. 19.17PCh. 19 - Prob. 19.18PCh. 19 - Prob. 19.19PCh. 19 - Prob. 19.20PCh. 19 - Prob. 19.21PCh. 19 - Prob. 19.22PCh. 19 - Prob. 19.23PCh. 19 - Prob. 19.24.1PCh. 19 - Prob. 19.24.2PCh. 19 - Prob. 19.24.3PCh. 19 - Prob. 19.24.4PCh. 19 - Prob. 19.24.5PCh. 19 - Prob. 19.24.6PCh. 19 - Prob. 19.24.7PCh. 19 - Prob. 19.24.8PCh. 19 - Prob. 19.24.9PCh. 19 - Prob. 19.24.10PCh. 19 - Prob. 19.24.11PCh. 19 - Prob. 19.24.12PCh. 19 - Prob. 19.24.13PCh. 19 - Prob. 19.24.14PCh. 19 - Prob. 19.24.15PCh. 19 - Prob. 19.24.16PCh. 19 - Prob. 19.24.17PCh. 19 - Prob. 19.24.18PCh. 19 - Prob. 19.24.19PCh. 19 - Prob. 19.24.20PCh. 19 - Prob. 19.25PCh. 19 - Prob. 19.26P
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