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