How much of the donations should be reported as revenue


Problem: For the 20X6 fiscal year, KU Care, a not-for-profit organization, received $300,000 in unrestricted donations and $175,000 in donations designated specifically for cancer research. $200,000 of the unrestricted donations and $100,000 of the restricted donations were expended in 20X6 for current operations and cancer research, respectively. KU did not set up a separate fund for the restricted donation. Under the deferral method, how much of the donations should be reported as revenue in the statement of operations for the 20X6 fiscal year?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: How much of the donations should be reported as revenue
Reference No:- TGS03417263

Expected delivery within 24 Hours