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The Bob Buckham Senior Center, a nonprofit entity, serves a bot med to senior citizens every Friday evening. All the food is donated by a
The Bob Buckham Senior Center, a nonprofit entity, serves a bot med to senior citizens every Friday evening. All the food is donated by a local supermarket. All the food preparation and serving is done by local volunteers. If the Center had to pay for the food, it would need to spend $12,000 a year If it had to pay for the food preparation and service, it would need to spend $14,000 a year How should it report these contributions in its financial statement Food Report $11,000 revenue and expense Tood Meport $1200 revenue and Food preparation and service Disclose in the notes Food upon and service Report $14000 revenue and Report $14,000 use and Done in the wides
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