A not-for-profit entity receives a computer as a donation (valued at $2,000). Prepare the journal entry for the transaction.
What will be an ideal response?
| Furniture - Office | $2,000 | |
| Unrestricted Net Assets - Contributions | $2,000 | |
You might also like to view...
Audit staff performing audit work must be appropriately supervised by partners and managers
a. True b. False Indicate whether the statement is true or false
You work as a sales representative in a company that manufactures surgical equipment. Before calling on an important prospect, you decide to search the Internet and find out details about him
What step in the selling process is being carried out here? What is the importance of this step?
The following data are taken from the comparative balance sheets of Grayling Company. Compute and interpret its accounts receivable turnover for Year 2. Competitors average a turnover of 7.5. How is the company doing in relation to its competitors?
What will be an ideal response?
Which of the following sentences is correct?
a. The term flame is online jargon for a heated, sarcastic, sometimes abusive message. b. The term "flame" is online jargon for a heated, sarcastic, sometimes abusive message. c. The term flame is online jargon for a "heated, sarcastic, sometimes abusive message.". d. The term flame is online jargon for a "heated, sarcastic, sometimes abusive message.".