Reference no: EM133031790
Question - The COVID-24 Food Kitchen provides hot meals to homeless and low-income individuals and families. It is the policy of the Food Kitchen to use restricted resources for which the purpose has been met before resources without donor restrictions. The COVID-24 Food Kitchen had the following revenue and expense transactions during 20X1.
The Food Kitchen received a $10,000 federal grant for the purchase of institutional kitchen equipment.
A local grocery store donated fresh produce with a fair value of $250. The food was used immediately.
Volunteers from a local civic group donated 150 hours to preparation and serving meals. The estimated fair market value of the labor was $1,200.
A local philanthropist donated $3,500 which was to be used for the purchase of food for Thanksgiving dinner.
The Food Kitchen received $30,000 of cash donations without restrictions.
The kitchen spent $5,200 on food for preparation of the Thanksgiving dinner.
Required - Prepare journal entries to record the transactions. Submit your responses to the questions in an Excel spreadsheet. Label each entry clearly.
Knowledge of apple current products
: Based on your experiences and/or knowledge of Apple's current products and services does Apple's strategy (as described in Illustration Capsule 1.1) seem to set
|
Prepare a bank reconciliation at March
: Deposits of March 30 and 31 not yet recorded by bank $5,240. Bank service charge for March was $50. Prepare a bank reconciliation at March 31, 2022
|
What is a perceptual map
: What is a perceptual map, and how is it used in the Capstone Simulation to assist company leadership with managing the product(s) the company offers
|
What is one share of this stock worth to you
: Future dividends are projected at $1.14, $1.18, $1.22, and $1.25 over the next four years, respectively. What is one share of this stock worth to you
|
Prepare journal entries to record the transactions
: A local philanthropist donated $3,500 which was to be used for the purchase of food for Thanksgiving dinner. Prepare journal entries to record the transactions
|
Determine the impact of operating changes on the items
: Determine the impact (increase, decrease, or no effect) of the following operating changes on the items cited: An increase in variable selling costs on income
|
At what amount would Cagle record the Forward Contract
: Question - On June 1, Cagle Co. received a signed agreement to sell inventory for ¥650,000. At what amount would Cagle record the Forward Contract
|
What are the responsibilities of business
: What are the responsibilities of business? What do they do that inspires you?
|
Find the characteristics defined within the content
: There are times when an organization does not have a clear understanding of what the consultant does or how they do it.
|