P10-2_and_10-1A_Solutions - Vehicle 20,000 Revenue –...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
ACCT 4650 P10-2 Deferral method 1. January 1, 20X4 Vehicle 20,000 Deferred contributions - capital assets 20,000 June 30, 20X4 Depreciation expense 2,500 Accumulated depreciation 2,500 [(20,000/4)(6/12) = 2,500 Deferred contributions—capital assets 2,500 Contribution revenue 2,500 2. September 30, 20X3 Cash 2,000,000 Net assets—endowment 2,000,000 October 1, 20X3 Investment in bonds 2,000,000 Cash 2,000,000 June 30, 20X4 Interest receivable 75,000 Interest revenue 45,000 Net assets—endowment 30,000
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
ACCT 4650 P10A-1 1. Restricted Fund Method— Capital Fund January 1, 20X4
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Vehicle 20,000 Revenue – contributions 20,000 June 30, 20X4 Depreciation expense 2,500 Accumulated depreciation 2,500 [(20,000/4)(6/12) = 2,500 2. Restricted Fund Method— Endowment Fund September 30, 20X3 Cash 2,000,000 Revenue – contributions 2,000,000 October 1, 20X3 Investment in bonds 2,000,000 Cash 2,000,000 June 30, 20X4 Interest receivable 30,000 Revenue - contributions 30,000 [2,000,000 × 2% × 9/12 = 30,000] Restricted Fund Method— General Fund June 30, 20X4 Interest receivable 45,000 Revenue - investment income 45,000 [2,000,000 × (5% – 2%) × 9/12]...
View Full Document

This note was uploaded on 02/18/2012 for the course ACCT 4650 taught by Professor Jemery during the Spring '12 term at Kwantlen Polytechnic University.

Page1 / 2

P10-2_and_10-1A_Solutions - Vehicle 20,000 Revenue –...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online