ACC 577 help A Guide to career/uophelp.com ACC 577 help A Guide to career/uophelp.com | Page 20

State University received two contributions during the year that must be
used to provide scholarships. Contribution A for $10,000 was collected
during the year, and $8,000 was spent on scholarships. Contribution B is
a pledge for $30,000 to be received next fiscal year. What amount of
contribution revenue should the university report in its statement of
activities?
Question 6
On January 2, City of Walton issued $500,000, 10-year, 7% general
obligation bonds. Interest is payable annually, beginning January 2 of
the following year.What amount of bond interest is Walton required to
report in the statement of revenue, expenditures, and changes in fund
balance of its governmental funds at the close of this fiscal year,
September 30?
Question 7
Hospital, Inc., a not-for-profit organization with no governmental
affiliation, reported the following in its accounts for the current year
ended December 31: What amount would the hospital report as net
patient service revenue in its statement of operations for the current year
ended December 31?
Question 8
The encumbrance account of a governmental unit is debited when
Question 9
The following revenues were among those reported by Ariba Township
in 2005: What amount of the foregoing revenues should be accounted
for in Ariba's governmental-type funds?
Question 10