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What amount home care report as temporarily restricted

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Reference no: EM132744969

Problem 1: Vista, a voluntary health and welfare organization, received a donation of P100,000 to be spent in accordance with the wishes of the institution's Board of Trustees. This donation should be reported on the statement of activities as:

a. Unrestricted revenue.

b. Temporarily restricted revenue

c. Other income - gifts.

d. Permanently restricted revenues

Problem 2: Home Care, Inc., a nongovernmental voluntary health and welfare organization, received two contributions in 2003. One contribution of P250,000 was restricted for use as general support in 2004. The other contribution of P200,000 carried no donor restrictions. What amount should Home Care report as temporarily restricted contributions in its 2003 statement of activities.

a. P250,000

b. P200,000

c. P0

d. P450,000

Reference no: EM132744969

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