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12. In its fiscal year ended June 30, Year 4, Barr College, a large nongovernmental not-for-profit entity, received $100,000 designated by the donor for scholarships
12. In its fiscal year ended June 30, Year 4, Barr College, a large nongovernmental not-for-profit entity, received $100,000 designated by the donor for scholarships for superior students. On July 26, Year 4, Barr selected the students and awarded the scholarships. How should the July 26 transaction be reported in Barr's statement of activities for the year ended June 30, Year 5? A. As both an increase and a decrease of $100,000 in net assets without donor restrictions. B. As a decrease only in net assets without donor restrictions. C. By footnote disclosure only. D. Not reported
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