Stokely Center for Human Trafficking Rights has total net assets at June 30, 2021 of $475,000 and of $500,000 at June 30, 2020. During the fiscal year ended June 30, 2021, all contribution revenue recognized was without donor restrictions. Which of the following describes the impact of the change in total net assets on the statement of cash flows for fiscal year ended June 30, 2021 if the Center uses the indirect method?

Stokely Center for Human Trafficking Rights has total net assets at June 30, 2021 of $475,000 and of $500,000 at June 30, 2020. During the fiscal year ended June 30, 2021, all contribution revenue recognized was without donor restrictions. Which of the following describes the impact of the change in total net assets on the statement of cash flows for fiscal year ended June 30, 2021 if the Center uses the indirect method?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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