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Question 2 0.17 points Save Answer At 1/1/2016, Global Management Accounting Bee has an endowment fund to which donors had contributed $1 million in securities.
Question 2 0.17 points Save Answer At 1/1/2016, Global Management Accounting Bee has an endowment fund to which donors had contributed $1 million in securities. In addition, as a result of previous investment gains, it has $10,000 of securities that are restricted to programs specified by the endowment donor. These are reported in a special revenue fund. At the end of 3/31/2016, the market value of the investment portfolio is $985,000 due to the uncertainty of 2016 Presidential Candidacy. Market recovers since Warrant Buffett bought millions shares of Apple stocks. The market value of the investment portfolio is $1,012,000 at the end of May 22, 2016. How should you report this investment portfolio as of 5/22/2016? Unrestricted: ($15,000), Temporarily Restricted: 0; Permanently Restricted: 1,000,000 Unrestricted: 0; Temporarily Restricted: ($15,000); Permanently Restricted: 1,000,000; Unrestricted: 0; Temporarily Restricted: $12,000; Permanently Restricted: 1,000,000; Unrestricted: 0; Temporarily Restricted: 0; Permanently Restricted: 1,012,000
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