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Problem
In January 2010, the Free Cancer Foundation accepted an endowment of $500,000, the income from which is restricted to promoting research related to recovery from cancer. All gains, whether realized or unrealized are available for distribution. During 2010 the market value of endowment's investment portfolio increased to $520,000. Accordingly, at year-end $20,000 was credited to a temporarily restricted expendable fund. During 2011 the market value of the portfolio decreased to $480,000 and the foundation spent $12,000 on qualifying projects.
Owing to these events and transactions, what should be the reported net asset balance of the following categories during 2011 (assuming a zero beginning balance in unrestricted net assets):
a) Permanently restricted
b) Temporarily restricted
c) Unrestricted.
R-Ball is considering switching from one overhead rate based on labor hours to activity-based costing. Using activity-based costing, how much assembly cost is assigned to deluxe racquets?
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wings over san diego is a publicly traded companywith preferred and common stock issued. as of january 1st ithad 50000
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Using your IDEA audit software and workbook, walk through and complete the entire process described in Section 4, related to the analysis of inventory. Create a document in MS Word that briefly documents the audit and/or data analysis processes th..
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The following describe several different business organizations. Determine whether the description refers to a sole proprietorship, partnership, or corporation.
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