Reference no: EM132678813
In each of the following scenarios, an organization receives a contribution in-kind. Prepare journal entries, as necessary, to give them accounting recognition. For each, tell why you made an entry or why you did not.
A local not-for-profit art museum receives advertising for its yearly benefit from radio station WLOU. The airtime would have cost the museum $1,000.
Volunteers for ‘‘Breakfast on Bikes,'' a voluntary health and welfare organization, deliver hot meals to the elderly three times a week. Each of the ten volunteers works about six hours per week. All of the volunteers have permanent jobs with pay averaging $36.10 an hour.
Lynn Simms, a local CPA, maintains the books and records of her church. Although her normal billing rate is $120 per hour, she accepts no payment from the church. She works on church matters approximately four hours a week.
A construction company allows a not-for-profit community association to use its bulldozer at no cost to clear land for a new baseball park. If the association had to rent the bulldozer it would have incurred costs of $2,400.
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How much is the stock worth today
: At the end of year 7, the company plans to pay its first dividend of $4.00 per share. If the required return is 16%, how much is the stock worth today?
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Describe the software methodology in brief
: The textbook states, "Kanban is not a software methodology or a project management system." Do you agree with this statement? State reasons for your agreement.
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How dofind what is the required rate of return on the stock
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What was the book value of the fixed assets
: In a recent balance sheet, Microsoft Corporation reported Property, Plant, and Equipment of $27,804 million. What was the book value of the fixed assets
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Reporting of state and local governments
: An organization receives a contribution in-kind. Prepare journal entries, as necessary, to give them accounting recognition.
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How old will be when the account has the target amount
: You deposit this into an account that pays 9.25% interest compounded annually? How old will you be when the account has the target amount?
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Define approaches of communication in change managemene
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Determine the gross profit and ending inventory on july
: Determine the gross profit, cost of goods sold, and ending inventory on July 31 using first-in, first-out, last-in, first-out, and average cost flow
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Describe law enforcement agencies under the jurisdiction
: Describe the law enforcement agencies under the jurisdiction of the Department of Homeland Security and their responsibilities.
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