Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. recording contribution good sports, inc., a nongov

Recording contribution Good Sports, Inc., a nongovernmental not-for-profit organization, received funds during its annual campaign...

90.2K

Verified Solution

Question

Accounting

Recording contribution

Good Sports, Inc., a nongovernmental not-for-profit organization, received funds during its annual campaign that were specifically pledged by the donor to another nongovernmental not-for-profit health organization. How should Belle record these funds?

a. Increase in assets and increase in liabilities

b. Increase in assets and increase in revenue

c. Increase in assets and increase in deferred revenue

d. Decrease in assets and decrease in fund balance

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Economics
1.2K views

Explain marginal utility and diminishing marginal utility. Provide an example of each concept. Explain the income effect...

Psychology
1.2K views

Many theorists have argued what they believe are the factors that cause crime. But, few have...

Psychology
1.2K views

True or false: The state legislature can pass any law it wants as long as it...

Algebra
1.2K views

Chau needs 9534 for a future project He can invest 6000 now at an annual...

Algebra
1.2K views

Write the expression in the standard form of a complex number a bi 4 8...

Algebra
1.2K views

Use the graph to evaluate each expression a f g 2 b f g 3...

Accounting
1.2K views

Ethical dilemmas and facing them are undoubtedly challenging and may put your job at risk....

Accounting
1.2K views

Traditional accounting separates the income statement into product costs and period costs. Cost-Volume-Profit analysis separates...

Accounting
1.2K views

Elkhardt Corporation has 93,400 common shares that have been issued. It declares a 5% stock...

Accounting
1.2K views

please... help and thank you thank you Moneymaker LLC was formed on January 1,...

Accounting
1.2K views

Please enter your answer without using a "$" symbol and rounded to the nearest whole...

Accounting
1.2K views

On March 12, Klein Company sold merchandise in the amount of $7,800 to Babson Company,...