Business, 23.07.2020 01:01 kingdesto3481

During the current year, the Finn Foundation, a nongovernmental not‐for‐profit organization, received a $1,000,000 permanent endowment from Chris. Chris stipulated that the income must be used to provide recreational activities for the elderly. The endowment reported income of $80,000 in the current year, and it was spent on recreational activities for the elderly. The foundation has adopted a policy to recognize donor‐restricted contributions whose restrictions are met in the same reporting period as contributions without a donor restriction. What amount of contribution revenue with donor restriction should Finn report at the end of the current year?

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During the current year, the Finn Foundation, a nongovernmental not‐for‐profit organization, receive...

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