Reference no: EM131525878
Question: On January 1, the Voluntary Action Agency received a cash contribution of $300,000 restricted to the purchase of buses to be used in transporting senior citizens. On January 2 of that same year, buses were purchased with the $300,000 cash. The buses are expected to be used for five years and have no salvage value at the end of that time.
1. Record the journal entries on January 1, January 2, and December 31 for the receipt of cash, the purchase of buses, and one year's depreciation, assuming that plant assets are recorded as unrestricted assets at the time of purchase.
2. Record the journal entries on January 1, January 2, and December 31 for the receipt of cash, the purchase of buses, and one year's depreciation, assuming that plant assets purchased with restricted resources are recorded as temporarily restricted assets at the time of purchase and reclassified in accord with the depreciation schedule.
3. Compute the amount that would be included in net assets (after closing the books on December 31) for
(a) unrestricted net assets and
(b) temporarily restricted net assets under requirements 1 and 2. What incentives might exist for the Voluntary Action Agency to choose either alternative?
|
What was internal or external pressure that caused change
: What was the internal or external pressure that caused the change? Compare the driving force for the change to the specific types of pressures
|
|
Complete the statement of activities by filling in amounts
: Presented below is a partially completed Statement of Activities for a homeless shelter. Complete the Statement of Activities by filling in the amounts.
|
|
Identify specific legal and ethical issue
: Identify specific legal and ethical issues that should be considered before, during, and after the merger.
|
|
Develop a balance scorecard
: Select an area that you will focus on from a balance scorecard viewpoint and explain how you will measure the effectiveness of the project.
|
|
Compute the amount that would be included in net assets
: On January 1, the Voluntary Action Agency received a cash contribution of $300,000 restricted to the purchase of buses to be used in transporting.
|
|
Ms project scheduling and salvaging a project
: Imagine your human resource project of revamping the employee compensation and benefits package is starting to develop issues.
|
|
Brief discussion of the oppositions point of view
: Overview of the argument contained in your working thesis statement, sometimes called a hypothesis. It is not based on research, but on what you already know
|
|
Indicate in which asset class each account is recorded
: On January 1, 2012, a foundation made a pledge to pay $30,000 per year at the end of each of the next five years to the Cancer Research Center, a nonprofit.
|
|
Which would be most difficult for the sap employees
: What aspects of the changes at SAP would be most difficult for the German employees? Why?Which would be most difficult for the SAP employees in other countries?
|