The transactions listed in the following questions occurred in a private, not-for-profit hospital during 20X8. For each transaction, indicate its effect on the hospital's statement of operations for the year ended December 31, 20X8.Transaction: Endowment income was earned. The donor placed no restrictions on the investment earnings.Effect on Statement of Operations:
A. The transaction is reported on the statement of operations, but there is no effect on operating income.
B. Decreases operating income.
C. The transaction is not reported on the statement of operations.
D. Increases operating income.
Answer: D
You might also like to view...
Watson Company has 5,000 shares of $5 par, 3% preferred stock outstanding, and 25,000 shares of $2 par common stock outstanding. The preferred stock is cumulative and no dividends have been paid for the past two years. If the company wishes to distribute $2 per share to the common stockholders, what is the total amount of dividends that must be paid in the current year?
a. $2,250 b. $50,000 c. $50,750 d. $52,250
________ research is a collection of techniques designed to identify and interpret information obtained through the observation of people
A) Explanatory B) Structured C) Syndicated D) Qualitative E) Quantitative
Those behaviors that result from repeated experience and reasoning is referred to as
A. attitudinal identification. B. learning. C. wisdom. D. psychosocial edification. E. acculturation.
Channel-stuffing, lapping, and round-tripping are all forms of:
a. inventory-related fraud schemes. b. expense-related fraud schemes. c. revenue-related fraud schemes. d. improperly holding the books open.