Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please help me these questions and give me explanations of those 5. A not-for-profit university maintained an endowment of 5400.000, the income of which was
Please help me these questions and give me explanations of those
5. A not-for-profit university maintained an endowment of 5400.000, the income of which was restricted for an annual conference on international relations. In a particular year, the market value of the endow- ment increased by $40.000. The university held a conference on international relations at a cost of 1. no revenue and unrestricted expenses of 543,000I b. unrestricted revenues of $40,000 and unrestricted expenses of $13,000 c. temporarily restricted revenues of $40,000, temporarily restricted expenses of $40,000 and unre- stricted expenses of $3,000 d. permanently restricted revenues of $40,000 and unrestricted expenses of 543,000 & Other factors held constant, which of the following colleges is likely to present the least risk that it will default on its bonds 3. one that admits 98 percent of applicants he one that draws the majority of its students from overseas c. one that prepares its students mainly for careers as automotive engineers d. one which draws its student body almost exclusively from the top 5 percent of high school grado ating classes throughout the country 7. Scholarships for which no services are recorded should be recorded as and scholar- ships for which services are required should be recorded as a revenue deductions, expenses b. expenses revenue deductions c. expenses: expenses d. revenue deductions, revenue deductions 8. A public university had tuition and fees for the year coded June 30, 2017, in the amount of $18,000,000 Scholarships, for which no services were required, amounted to 51,400,000. Graduate assistantships, for which services were required, amounted to $1.300,000. The amount to be reported by the university as net tuition and fee revenue would be a. $18,000,000 h 516,700,000 e $16,600,000 d. S15,300,000 9. During the year, Griffin University's board of trustees established a $200,000 fund to be retained and invested for scholarship prants. The fund earned $12,000, which had not been distributed by December 31. What amount should Griffin report in a Board designated (quasi) endowment fund's net assets at December 312 a. 50 b. $12,000 c. $200,000 d. $212,000 10. During the year, LeBlanc College received the following: An unrestricted $70,000 pledge to be paid the following year A$35,000 cash pift restricted for studyabroad scholarships A notice from a recent business school graduate that he has named the college as a beneficiary of $15,000 in his will What amount of contribution revenue should LeBlanc College report in its statement of activities? a. $35,000 b. $50,000 c. $105.000 d. $120,000 www My New Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started