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The City of Ruth has been awarded a $1,000,000 federal expenditure-driven grant

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9 years ago

The City of Ruth has been awarded a $1,000,000 federal expenditure-driven grant

The City of Ruth has been awarded a $1,000,000 federal expenditure-driven grant to improve bike trails. The federal government advanced the city $600,000 when the grant was awarded on January 10, 20X8. The city incurred $418,000 of qualifying expenditures during 20X8. How much should the city of Ruth recognize as unearned revenue for its fiscal year ending December 31, 20X8?
A.   $182,000.
B.   $418,000.
C.   $582,000.
D.   $600,000.

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Diesel

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f_zah1

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goji.go Author

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9 years ago

Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth

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Diesel

f_zah1

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9 years ago

You're very welcome!

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