Top Posters
Since Sunday
c
5
j
5
a
5
L
5
f
5
j
5
D
4
k
4
y
4
t
4
h
4
l
4
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
goji.go goji.go
wrote...
Go to Answer
Posts: 5977
Rep: 293 0
9 years ago
Shults Labs donates an item of prescription medications worth $100,000 to a local not-for-profit hospital. How should the hospital report the donation in its financial statements?
      a.   Report an other revenue (or gain) and an expense of $100,000.
      b.   Report an other revenue (or gain) and an asset (inventory) of $100,000
      c.   Report an asset and an other revenue (or gain) at the manufacturer's direct cost to produce the equipment, which is estimated at $70,000
      d.   Report nothing on the face of the financial statements, but describe the donation in the notes to the statements.
Read 184 times
3 Replies
Diesel
Replies
Answer accepted by topic starter
f_zah1f_zah1
wrote...
#1
Top Poster
Posts: 10774
Rep: 1064 3
9 years ago
Sign in or Sign up in seconds to unlock everything for free
1

Related Topics

goji.go Author
wrote...
#2
9 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
wrote...
#3
9 years ago
You're very welcome!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  816 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 228
  
 270
  
 237
Your Opinion
Who's your favorite biologist?
Votes: 587
Previous poll results: How often do you eat-out per week?