The following events relate to Habitat for Humanity International's activities. If appropriate, assume a discount rate of 3 percent per annum. Expenditures for house building activities are categorized as program expense. Need Part b. answer. 6. A donor contributes $15,000 in cash and signs an agreement to contribute $15,000 at the beginning of each of the next four years, to support specific Habitat for Humanity projects. a. Contribution received now Recorded? Yes ◆ Amount $ 15,000✔ Classification: Net assets without donor restrictions b. Contributions received the next four years Recorded? Yes Amount $ x Classification: Net assets with donor restrictions
The following events relate to Habitat for Humanity International's activities. If appropriate, assume a discount rate of 3 percent per annum. Expenditures for house building activities are categorized as program expense. Need Part b. answer. 6. A donor contributes $15,000 in cash and signs an agreement to contribute $15,000 at the beginning of each of the next four years, to support specific Habitat for Humanity projects. a. Contribution received now Recorded? Yes ◆ Amount $ 15,000✔ Classification: Net assets without donor restrictions b. Contributions received the next four years Recorded? Yes Amount $ x Classification: Net assets with donor restrictions
Chapter13: Tax Credits And Payment Procedures
Section: Chapter Questions
Problem 14CE
Related questions
Question
![The following events relate to Habitat for Humanity International's activities. If appropriate,
assume a discount rate of 3 percent per annum. Expenditures for house building activities are
categorized as program expense.
Need Part b. answer.
6. A donor contributes $15,000 in cash and signs an agreement to contribute $15,000 at the beginning of each of the next four years, to support specific Habitat for Humanity projects.
a. Contribution received now
Amount $ 15,000✔ Classification: Net assets without donor restrictions
Amount $
x Classification: Net assets with donor restrictions
Recorded? Yes
b. Contributions received the next four years Recorded? Yes
◆](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1e61bc8b-560c-43c2-8e64-e934a57bc2ff%2F7265680b-f47f-4844-b2f7-77c54dd9bd4e%2Fuk6mqys_processed.png&w=3840&q=75)
Transcribed Image Text:The following events relate to Habitat for Humanity International's activities. If appropriate,
assume a discount rate of 3 percent per annum. Expenditures for house building activities are
categorized as program expense.
Need Part b. answer.
6. A donor contributes $15,000 in cash and signs an agreement to contribute $15,000 at the beginning of each of the next four years, to support specific Habitat for Humanity projects.
a. Contribution received now
Amount $ 15,000✔ Classification: Net assets without donor restrictions
Amount $
x Classification: Net assets with donor restrictions
Recorded? Yes
b. Contributions received the next four years Recorded? Yes
◆
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