Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

19. A donor promises to give $50,000 cash to the WWU Physics Department to be used as scholarships for physics majors. The university will record

19. A donor promises to give $50,000 cash to the WWU Physics Department to be used as scholarships for physics majors. The university will record

a.

Contribution Revenue Unrestricted

c.

Contribution Revenue - Permanently Restricted

b.

Contribution Revenue Temp. Restricted

d.

nothing

20. In its fund-raising drive, the Humane Society received total pledges of $55,000; it also contacted other possible donors who were still considering whether to make pledges of $8,000. What amount of contribution revenue should be recorded?

a.

$55,000

c.

$8,000

b.

$63,000

d.

Zero

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Human Resource Management

Authors: Raymond Noe

5th Edition

0471737933, 9780471737933

More Books

Students also viewed these Accounting questions

Question

PLease opean attachment, if you have any questions let me know.

Answered: 1 week ago

Question

2. Ask questions, listen rather than attempt to persuade.

Answered: 1 week ago