Accounting For Governmental & Nonprofit Entities
18th Edition
ISBN: 9781259917059
Author: RECK, Jacqueline L., Lowensohn, Suzanne L., NEELY, Daniel G.
Publisher: Mcgraw-hill Education,
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Question
Chapter 15, Problem 20EP
a.
To determine
Prepare journal entries to record the transactions if the university is a private institution.
b.
To determine
Prepare journal entries to record the transactions if the university is a public institution.
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Students have asked these similar questions
A state constructs an office building. The construction is financed with: (1) a transfer of $1 million from the General Fund; (2) a grant of $3 million from the federal government; (3) bond proceeds of $6 million; and (4) earnings of $100,000 from temporary investment of bond proceeds. All transactions occur in one year. How much should be reported as Revenues in the Capital Projects Fund?
$100,000
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The following events relate to Habitat for Humanity International's activities. If appropriate,
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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
◆
5A.
A non-government agency is funding annual seminar on campus by using earnings of
a $100,000 gift. It is estimated that 12% interest rate will be realized in the first 10
years, but only 6% may be anticipated after that.
What uniform annual payment may be established from the beginning to fund the
seminar at the same level into infinity?
An additional gift of $10000 was received in the agency at the end of 5 years,
A
i.
ii.
which they have deposited in the seminar account. What will be the new annual
payment starting from 6th year to infinity?
(HUM 3051)
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Chapter 15 Solutions
Accounting For Governmental & Nonprofit Entities
Ch. 15 - Prob. 1QCh. 15 - Prob. 2QCh. 15 - Prob. 3QCh. 15 - Prob. 4QCh. 15 - Prob. 5QCh. 15 - Prob. 6QCh. 15 - Prob. 7QCh. 15 - What is UPMIFA, and why is it important to...Ch. 15 - How can the performance of colleges and...Ch. 15 - Prob. 10Q
Ch. 15 - Prob. 12CCh. 15 - Prob. 14CCh. 15 - Prob. 15.1EPCh. 15 - Prob. 15.2EPCh. 15 - Prob. 15.3EPCh. 15 - Prob. 15.4EPCh. 15 - Prob. 15.5EPCh. 15 - Prob. 15.6EPCh. 15 - Prob. 15.7EPCh. 15 - Prob. 15.8EPCh. 15 - Prob. 15.9EPCh. 15 - Prob. 15.10EPCh. 15 - Prob. 16EPCh. 15 - Prob. 17EPCh. 15 - Prob. 18EPCh. 15 - Prob. 19EPCh. 15 - Prob. 20EPCh. 15 - Prob. 21EPCh. 15 - Prob. 22EPCh. 15 - Prob. 23EP
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