Ch 10 HW - Rosmic Calvo ACCT 265 CHAPTER 10 10-1 Save the...

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Rosmic Calvo ACCT 265 CHAPTER 10 10-1 Save the Children a) Statements of Financial Position, Statement of Activities and Changes of Net Assets, Statement of Expenses by Function, Statement of Cash Flows. b) Contribution revenues are recognized when received. Contributions are unrestricted, temporarily- restricted, or permanently restricted. c) “Temporarily restricted net assets--- Net assets whose use by Save the Children is limited by donor- imposed stipulations that either expire by passage of time or can be fulfilled and released by actions of Save the Children pursuant to those donor-imposed stipulations.” d) Yes. e) 88% 10-2 a) Statement of Activities, Statement of Financial Position, and Statement of Cash Flows are required for all not-for-profits; but a Statement of Functional Expenses is an additional requirement for health and welfare organizations. b) Unrestricted, temporarily-restricted, and permanently-restricted. c) Property, Plant, and Equipment is recorded as long-term assets and depreciated according to estimated lives. If a plant is acquired with unrestricted resources, it may be recorded as unrestricted initially and depreciated or it may be recorded as temporarily restricted, then reclassified according to the depreciation schedule. If a plant is acquired with temporarily restricted resources, it may be initially recorded as unrestricted and reclassified immediately in the total amount or it may be initially recorded as temporarily restricted and reclassified according to the depreciation schedule. d) Investments in debt securities and investments in equity securities with determinable fair values are required to be reported at fair value. Unrealized gains and losses are to be reported with realized gains and losses as additions to or deductions from the appropriate net asset class in the statement of activities;
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This note was uploaded on 01/20/2010 for the course ACCT 265 taught by Professor Foe during the Fall '09 term at Nashville State Community College.

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Ch 10 HW - Rosmic Calvo ACCT 265 CHAPTER 10 10-1 Save the...

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