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Question 15 A labor union had the following receipts and expenses for the current year ended December 31: Receipt Descriptions: Amounts Per capita dues
Question 15 A labor union had the following receipts and expenses for the current year ended December 31: Receipt Descriptions: Amounts Per capita dues 680,000 Initiation fees 90,000 Gift restricted by donor for 30,000 loan purposes for 10 years Gift restricted by donor for 25,000 loan purposes in perpetuity Expense Descriptions: Amount Labor negotiations 500,000 Fundraising 100,000 Membership development 50,000 Administrative and general 200,000 Management sales of 60,000 organizational supplies Additional information: The union's constitution provides that 10% of the per capita dues are designated for the Strike Insurance Fund to be distributed for strike relief at the discretion of the union's executive board. In the statement of activities for the year ended December 31, what amount should be reported as donor-restricted support? $55,000 $25,000 $0 $30,000 2 pts
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