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Home Q & A Board Other Fields Homework Help Business Accounting
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goji.go goji.go
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9 years ago
Computer equipment used in the business office of a not-for-profit organization was sold for $9,000. The original cost of the equipment had been $21,000 and there was $15,000 of accumulated depreciation as of the date of sale. How will the gain be reported?
A.   Gains are not recognized in not-for-profit organizations.
B.   Unrestricted gain of $3,000.
C.   Temporarily restricted gain of $3,000.
D.   Permanently restricted gain of $3,000.
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Diesel
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f_zah1f_zah1
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9 years ago
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