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Case II For each of the following independent situations, answer each of the following questions: a. Is it conditional or unconditional? b. Is the contribution
Case II For each of the following independent situations, answer each of the following questions: a. Is it conditional or unconditional? b. Is the contribution with donor restriction" or "without donor restriction?" c. What amount is recognized in the financials? 1. Company X gave NFP $400,000 to study fat content in certain types of foods. The results of the study will be used to educate the public, not to benefit X. 2. Donor gave 1,000 shares of ABC Corp stock to her alma mater. The FMV of this stock was $20,000 on the date of the gift. 3. Donor gave $1M to NFP to be invested in perpetuity, with the income to be used for current expenses. 4. Donor gave some old, self-made movies about her community to a local museum. They are to be used to educate local residents about community history. 5. Donor, a musician, promises to donate to his alma mater all proceeds in excess of $25,000 from his next concert. 6. Donor, a CPA, donates a day each month paying bills, doing financials, and doing any tax work for NFP. No one in the office of the NFP knows any accounting. 7. Donor promises to give $10,000 each year for five years to NFP. 8. Donor says she plans to contribute $50,000 to NFP some time next year. 9. Donor notifies NFP that he is leaving it $500,000 in his will
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