not for profit ch 1 answers - NOT FOR PROFIT ANSWERS CH1...

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NOT FOR PROFIT ANSWERS CH1 2-1 1. J 2. G 3. A 4. H 5. A 6. B 7. A 8. I 9. A 10. F 2-2 1. A 2. C 3. D 4. C 5. D 6. A 7. C 8. B
9. C 10. B 11. A 12. B 2-3 1) Cash NO ENTRY FOCUS ON CASH PLUS CURRENT FINANCIAL RESOURCES NOTE RECEIVABLE 1M DONOR REVENUE 1M FOCUS ON ALL ECONOMIC RESOURCES Note receivable 1M Donor revenue 1M 2) Cash Cash 300,000 Contribution Revenue 300,000 Cash plus current financial resources
NOT FOR PROFIT ANSWERS CH1 Cash 300,000 Note Receivable 300,000 Focus on all economic resources Cash 300,000 Note Receivable 300,000 3) Cash Building 120,000 Cash 120,000 Cash plus current financial resources Building 120,000 Cash 120,000 Focus on all economic resources Building 600,000 Cash 120,000 Note payable 480,000 4) Cash None Cash plus current financial resources
Wage expense 4000 Wage payable 4000 Focus on all economic resources Wage expense 4000 Wage payable 4000 2-4 1. Cash 20 Bond revenue proceeds 20 2. Expenditure 4 Cash 4
NOT FOR PROFIT ANSWERS CH1

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