Question
During the current fiscal year, the city received the following: an unrestricted grant of $150,000 from the state; a restricted grant of $200,000 from the
During the current fiscal year, the city received the following: an unrestricted grant of $150,000 from the state; a restricted grant of $200,000 from the federal government to be used for multicultural education beginning next fiscal year. In its fund statements, how much should the city report as grant revenue for the current fiscal year?
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The unrestricted grant of 150000 should be reported as grant revenue in the ...
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Accounting for Governmental and Nonprofit Entities
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
18th edition
1260190080, 1260190083, 978-1259917059
