Business, 17.07.2020 23:01 caitlinrosekozoxegcb

Indicate how the following contributed service would be recorded by a private, not-for-profit organization: A parent of one of the league participants volunteered to coach the soccer team for his son’s junior league. The parent coached professionally before retiring 10 years ago. The previous two coaches had never coached before.

A. The contribution is not recorded.

B. The contribution is recorded as revenue with an equal amount recorded as expense.

C. The contribution is recorded as revenue with an equal amount recorded as "other financing uses."

D. The contribution is recorded as an asset with an equal amount recorded as expense.

E. The contribution is recorded as an asset with an equal amount recorded as contribution revenue.

Indicate how the following contributed service would be recorded by a private, non-profit organization:

Several members of a local church donated time delivering meals to elderly members.

A. The contribution is not recorded.

B. The contribution is recorded as revenue with an equal amount recorded as expense.

C. The contribution is recorded as revenue with an equal amount recorded as "other financing uses."

D. The contribution is recorded as an asset with an equal amount recorded as expense.

E. The contribution is recorded as an asset with an equal amount recorded as contribution revenue.

Indicate how the following contributed service would be recorded by a private, non-profit organization:

Several members of the Penn State Harrisburg baseball team donated time coaching a team in the local little league.

A. The contribution is not recorded.

B. The contribution is recorded as revenue with an equal amount recorded as expense.

C. The contribution is recorded as revenue with an equal amount recorded as "other financing uses."

D. The contribution is recorded as an asset with an equal amount recorded as expense.

E. The contribution is recorded as an asset with an equal amount recorded as contribution revenue.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 11:30

Amano s preguntes cationing to come fonds and consumer good 8. why did the u.s. government use rationing for some foods and consumer goods during world war ii?

Answers: 1

Answer

Business, 22.06.2019 21:20

Which of the following best explains how trade enables greater specialization among producers? a. trade diversifies the market by bringing specialized goods from around the world. b. trade requires distribution networks and adds one more step to the production process. c. trade enables producers to open up new markets for their goods and services. d. trade allows people to focus on one kind of production and trade for their other needs.

Answers: 1

Answer

Business, 23.06.2019 02:40

Peter, the marketing manager of a company that manufactures church furniture, has been given the job of increasing corporate profits by five percent during the upcoming year. peter decided to give his assistant the full responsibility and authority for developing a mailing campaign to target churches in an entire state. in other words, peter has

Answers: 1

Answer

Business, 23.06.2019 02:40

Telecom co. enters into a two-year contract with a customer to provide wireless service (voice and data) for $40 per month. to induce customers, telecom co. provides a free phone. telecom co. normally sells the phone on a stand-alone basis for $200. telecom co. also charges the customer a one-time activation fee of $35.which of the following is true? a) there are two distinct performance obligations: the voice service and the data service b) the free phone constitutes as a marketing expense c) the activation fee is a separate performance obligationd) there are two distinct performance obligations: the wireless services and the phone

Answers: 2

Answer

You know the right answer?

Indicate how the following contributed service would be recorded by a private, not-for-profit organi...

Questions