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Question: (Journal entries for a Private Purpose Trust Fund) Record the following journal entries in the Children's Book Fund, a city's Private Purpose Trust Fund that supplies books for children in privately owned battered women's shelters.
1. A citizen donated $500,000 to a Private Purpose Trust Fund. The trust specified that this money was to be used to acquire children's books for battered women's shelters.
2. The fund invested $420,000 in CDs.
3. Books costing $45,000 were acquired.
4. Interest income of $20,000 was received in cash from the CDs.
5. The accounts were closed for the year.
Prepare the appropriate adjusting entry for vacations earned but not taken in 2011.
This problem is based on the 2011 annual report of Campbell Soup Company in the appendix.
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your friend asks you what the terms fob shipping point and fob destination mean. what are the accounting and business
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Performed services for patients who had dental plan insurance. At January 31, $817 of such services were performed but not yet recorded.
jackson company recorded the following cash transactions for the year paid 135000 for salaries. paid 60000 to rent and
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(Need for GAAP) Some argue that having various organizations establish accounting principles is wasteful and inefficient.
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