User Account

All Pages

What amount would be reported as deferred contributions

Assignment Help Accounting Basics
Reference no: EM133141466

Question - During the year, an NFPO held a public campaign to raise funds for daily operations for the following operating year. By the end of the year, the NFPO had collected $600,000 cash and pledges for an additional $100,000. Based on history, it is estimated that approximately 90% of these pledges will be collected by the end of the first quarter of the next year. The NFPO uses the restricted fund method of accounting for contributions and reports a general fund, capital asset fund, and endowment fund. What amount would be reported as deferred contributions at the end of the current year on the statement of financial position?

Reference no: EM133141466

Questions Cloud

Discuss the meaning costs can be classified : Tuition industry gets more crowded, but players are upbeat about the prospects", Lai, Leila. Discuss the meaning Costs can be classified
Select key trends in social and task environments : Identify and Select key trends in the social and task environments which offer threats and opportunities to the organization.
What is carrying amount of investments in financial assets : What is the carrying amount of investments in financial assets at fair value through profit or loss at December 31, 2017
Where will you source your data : What industry are you looking at? What business question do you want to answer? Is the project feasible given the amount of time you have
What amount would be reported as deferred contributions : What amount would be reported as deferred contributions at the end of the current year on the statement of financial position
Prepare the income statement for this month : The company paid $3,400 cash toward the accounts payable balance reported at the beginning of the month. Prepare the income statement for this month
What is the dividend yield? compute the dividend yield : Breville is expected to pay $2.20 of dividend per share next year. What is the dividend yield? Compute the dividend yield of Breville
Competitive advantage in the marketplace : The competitive advantage of the company and how the company takes advantage of its competitive advantage in the marketplace.
Determine nopat and net income for each alternative : Issue $1 million bonds with 13% coupon and $1 million common stock. Determine NOPAT and net income for each alternative

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much advertising expense should red rose law firm record

How much advertising expense should Red Roses Law Firm record for the two months ending February 28 under the cash basis

  Calculate ending balance of retained earnings for each year

The company also issued 1,200, $4.00 preferred shares for cash of $10 per share. Calculate ending balance of Retained Earnings for each year

  What is the character of the loss

For each alternative, when would the $36,000 loss be recognized, to whom would the loss be allocated, what is the character of the loss

  The controller of a small private college is complaining

the controller of a small private college is complaining about the amount of work she is required to do at the

  Evaluate the alternatives from the perspective of amber

Amber, a publicly held corporation (not a TARP recipient), currently pays its president an annual salary of $900,000. In addition, it contributes $20,000 annually to a defined contribution pension plan for him.

  Prepare a cash budget for the months of June

Credit sales are collected over a three-month period: 40 per cent in the month of sale, Prepare a cash budget for the months of June

  Calculate the net increase or decrease in cash

Rico's Taqueria had cash inflows from operating activities of $34,000; Calculate the net increase or decrease in cash

  Assuming the same size and profitability

Assuming the same size and profitability, which fund would you expect to have more in tax liabilities: Active Trading or Activist Investing?

  Assume that a company produces and sells 90000 units during

assume that a company produces and sells 90000 units during the year at the selling price of 10.35 per unit. prepare a

  Prepare journal entries for july 2011 to record the

prepare journal entries for july 2011 to record the following transactions for seaside sales. assume a perpetual

  What is the expected rate of return on a stock

Question - The risk-free rate of return is 4% and the market risk premium is 9%. What is the expected rate of return on a stock with a beta of 1.28

  Concept of process costing system

A single product in one department and uses a process costing system. At the start of May, there were 10,000 units in process that were 100 percent complete with respect to direct material and 60 percent complete with respect to conversion costs (..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd