A not-for-profit medical center performs services in the current year at a charge of $1 million. Of this amount, $200,000 is viewed as charity services because no collection was expected at the time of the work. The direct costs of that work were $80,000 and the indirect costs were $50,000. What amount of these costs has to be disclosed? $50,000 $80,000 $130,000 $280,000
A not-for-profit medical center performs services in the current year at a charge of $1 million. Of this amount, $200,000 is viewed as charity services because no collection was expected at the time of the work. The direct costs of that work were $80,000 and the indirect costs were $50,000. What amount of these costs has to be disclosed? $50,000 $80,000 $130,000 $280,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A not-for-profit medical center performs services in the current year at a charge of $1 million. Of this amount, $200,000 is viewed as charity services because no collection was expected at the time of the work. The direct costs of that work were $80,000 and the indirect costs were $50,000. What amount of these costs has to be disclosed?
- $50,000
- $80,000
- $130,000
- $280,000
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