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goji.go goji.go
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Posts: 5977
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9 years ago
The Turtle Island Singers receive three gifts during the year 2012: (a) $3,000, which may be used for any purpose at any time; (b) $5,000, which must be used for a special concert in a nursing home; and (c) $1,000, which may be used for any purpose, but only in the year 2013. When it receives the gifts, how should the entity classify them:
      a.   $3,000 as unrestricted revenue and $6,000 as temporarily restricted revenue
      b.   $4,000 as unrestricted revenue and $5,000 as temporarily restricted revenue
      c.   $8,000 as unrestricted revenue and $1,000 as temporarily restricted revenue
      d.   $9,000 as unrestricted revenue
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Diesel
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Answer accepted by topic starter
f_zah1f_zah1
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#1
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9 years ago
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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!
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