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A nonprofit organization receives donated supplies valued at $40,000 in June 2019. As of the fiscal year end December 31, 2019, the organization had used
A nonprofit organization receives donated supplies valued at $40,000 in June 2019. As of the fiscal year end December 31, 2019, the organization had used 25% of the materials. The organization should report
A. | Unrestricted contributions of $40,000 and expenses of $10,000. | |
B. | Restricted contributions of $40,000 and no expenses. | |
C. | Unrestricted contributions of $10,000 and no expenses. | |
D. | Restricted contributions and expenses of $40,000. |
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