You have recently been named the chief accountant for Stop Smog Now (SSN), a not-for-profit organization that provides pollution control devices for coal burning plants in developing countries. On February 15, Year 7, SSN received a restricted contribution of $750,000 for the purchase of land and building. On March 11, Year 7, SSN purchased a building and land for $500,000 and $250,000 respectively. The building will be depreciated over 20 years. Year end is March 31. Required: Assuming the Deferral method is used, provide all the journal entries required for February and March of Year 7 Please give me correct entries thnku
You have recently been named the chief accountant for Stop Smog Now (SSN), a not-for-profit organization that provides pollution control devices for coal burning plants in developing countries. On February 15, Year 7, SSN received a restricted contribution of $750,000 for the purchase of land and building. On March 11, Year 7, SSN purchased a building and land for $500,000 and $250,000 respectively. The building will be depreciated over 20 years. Year end is March 31. Required: Assuming the Deferral method is used, provide all the journal entries required for February and March of Year 7 Please give me correct entries thnku
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Accounting
You have recently been named the chief accountant for Stop Smog Now (SSN), a
not-for-profit organization that provides pollution control devices for coal
burning plants in developing countries. On February 15, Year 7, SSN received a
restricted contribution of $750,000 for the purchase of land and building. On
March 11, Year 7, SSN purchased a building and land for $500,000 and $250,000
respectively. The building will be
Year end is March 31.
Required:
Assuming the Deferral method is used, provide all the
Please give me correct entries thnku
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