Question
A local CPA volunteered his time to help install and test new computer accounting system software for an after-school development organization that serves disadvantaged children.
A local CPA volunteered his time to help install and test new computer accounting system software for an after-school development organization that serves disadvantaged children. If the services had not been donated the organization would have had to hire a consultant to install the system. In accordance with the FASB Codification, the value of the CPA's time devoted to helping the organization should be recorded as:
A. Contribution-Temporarily Restricted.
B. Program Expense.
C. Machinery & Equipment.
D. It would not be recorded.
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
