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QUESTION 42 A nongovernmental not-for-profit animal shelter receives contributed services from the following individuals valued at their normal billing rate: Board members volunteer to prepare

QUESTION 42

A nongovernmental not-for-profit animal shelter receives contributed services from the following individuals valued at their normal billing rate:

Board members volunteer to prepare books foraudit4,500

Registered nurse volunteers asreceptionist3,000

Teacher provides volunteer dog walking 2,000

What amount should the shelter record as contribution revenue?

  1. $7,500
  2. $4,500
  3. $6,500
  4. $9,500

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