ADVANCED FINANCIAL ACCOUNTING IA
12th Edition
ISBN: 9781260545081
Author: Christensen
Publisher: MCG
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Chapter 19, Problem 19.8.8E
To determine
Introduction: Unrestricted funds refers to those funds on which no restrictions is imposed by the donor for its usage. The done is free to use the funds as per its own requirements for the purpose of the furtherance of the objects. However, these funds are not absolutely free of restrictions as they have to follow the guidelines of the association in which received.
The amount to be disclosed in the statement of activities under the classification of revenue from unrestricted funds.
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General Purpose Financial Statements
The following Trial Balance relates to Banco Community College, a public tertiary educational institution in
Guyana, as at December 31, 2019.
DR
CR
$00
$00
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4,575,622
Permanent Post
5,312,430
Allowance
856,670
Independent consultancy fees
655,600
Legal Cost
25,059
CARICOM Grant
1,540,000
Consultancy Cost
565,500
Non-Permanent Post
1,253,600
Seminars cost
500,000
Sponsorship (granted/received)
8,100
9,066,828
Receivables
468,050
Payables
182,840
20% loan
8,600
Books and Research Allowance
150,765
Plant and Machinery
3,000,000
250,000
Motor Vehicle
2,505,000
352,000
Building
12,300,000
756,000
Software
995,500
150,000
Other Incomes
211,430
Project Work Supervisory Allowance
48,500
Cash and Bank
294,233
Training and Workshop cost
Bad debt provision (student fees)
Work in Progress
104,000
4,940
8,251,735
Other Expenses
71,000
Withholding Tax
90,500
Accumulated Fund
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Utilities Bills
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Proceeds from Sale of Admission Forms…
Barrett Historical Society, a nonprofit organization, charges a $100 annual
membership. Of this amount, $25 is designed to cover quarterly newsletters, and the
remainder is considered to be a contribution. What standard(s) should Barret
consider in recording membership revenue for these two components?
ASU 2018-08 (nonexchange transactions) would be used to report both
components - $25 for newsletter and $75 contribution.
Topic 606 (exchange transactions) would be used to report both components -
$25 for newsletter and $75 contribution.
ASU 2018-08 (nonexchange transactions) would be used to report $25 for
newsletter and Topic 606 (exchange transactions) would be used to report $75
contribution.
Topic 606 (exchange transactions) would be used to report $25 for newsletter
and ASU 2018-08 (nonexchange transactions) would be used to report $75
contribution.
The entity’s monthly contributions to the SSS for the benefit of its employees are accounted for as defined benefit plans.
a. True
b. False
According to PAS 19, contributions to a defined contribution plan are recognized
a. at each year-end
b. where an employer makes those contributions
c. when an employee has rendered service in exchange for those contributions
d. at the beginning of each reporting period
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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