A nongovernmental not-for-profit organization provided the following data in regard to $500,000 of donations received during the year: Purchase of investments to be held in perpetuity at the donor's request $100,000 Future repairs to the organization's building and equipment at the donor's request 250,000 General operations at the discretion of the board of directors 100,000 Specific program services as indicated by the donor 50,000 If the organization uses the minimum required presentation of net assets and properly reflects receipt of the donations, net assets should increase in the amount of O $100,000 net assets without donor restrictions and $400,000 net assets with donor restrictions. O $150,000 unrestricted, $250,000 temporarily restricted, and $100,000 permanently restricted. O $100,000 net assets without donor restrictions, $300,000 temporarily restricted, and $100,000 permanently restricted. $400,000 net assets without donor restrictions and $100,000 net assets with donor restrictions.
A nongovernmental not-for-profit organization provided the following data in regard to $500,000 of donations received during the year: Purchase of investments to be held in perpetuity at the donor's request $100,000 Future repairs to the organization's building and equipment at the donor's request 250,000 General operations at the discretion of the board of directors 100,000 Specific program services as indicated by the donor 50,000 If the organization uses the minimum required presentation of net assets and properly reflects receipt of the donations, net assets should increase in the amount of O $100,000 net assets without donor restrictions and $400,000 net assets with donor restrictions. O $150,000 unrestricted, $250,000 temporarily restricted, and $100,000 permanently restricted. O $100,000 net assets without donor restrictions, $300,000 temporarily restricted, and $100,000 permanently restricted. $400,000 net assets without donor restrictions and $100,000 net assets with donor restrictions.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
ni.9
![A nongovernmental not-for-profit organization provided the following data in regard to $500,000 of donations received
during the year:
Purchase of investments to be held in perpetuity at the
donor's request
$100,000
Future repairs to the organization's building and
equipment at the donor's request
250,000
General operations at the discretion of the board of
directors
100,000
Specific program services as indicated by the donor
50,000
If the organization uses the minimum required presentation of net assets and properly reflects receipt of the donations, net
assets should increase in the amount of
O
$100,000 net assets without donor restrictions and $400,000 net assets with donor
restrictions.
O
$150,000 unrestricted, $250,000 temporarily restricted, and $100,000 permanently
restricted.
O $100,000 net assets without donor restrictions, $300,000 temporarily restricted, and
$100,000 permanently restricted.
$400,000 net assets without donor restrictions and $100,000 net assets with donor
restrictions.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc0e696d4-1b25-491a-9c40-9ab97341523b%2Fc7973a95-c9c0-4f94-945d-5c723d78cc6e%2Frrdqg2k_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A nongovernmental not-for-profit organization provided the following data in regard to $500,000 of donations received
during the year:
Purchase of investments to be held in perpetuity at the
donor's request
$100,000
Future repairs to the organization's building and
equipment at the donor's request
250,000
General operations at the discretion of the board of
directors
100,000
Specific program services as indicated by the donor
50,000
If the organization uses the minimum required presentation of net assets and properly reflects receipt of the donations, net
assets should increase in the amount of
O
$100,000 net assets without donor restrictions and $400,000 net assets with donor
restrictions.
O
$150,000 unrestricted, $250,000 temporarily restricted, and $100,000 permanently
restricted.
O $100,000 net assets without donor restrictions, $300,000 temporarily restricted, and
$100,000 permanently restricted.
$400,000 net assets without donor restrictions and $100,000 net assets with donor
restrictions.
AI-Generated Solution
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education