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A Nongovernment Not-For-Profit Organization Received a Cash Donation of $100,000

question 10

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A nongovernment not-for-profit organization received a cash donation of $100,000 restricted for a specific operating purpose. Only $20,000 of expenses related to the specific operating purpose was incurred during the current year. How should this activity be reported be in the statement of activities?


Definitions:

Finished Goods Inventory

The stock of completed products that are ready to be sold but have not yet been sold to customers.

Direct Labor-Hours

The cumulative hours that employees, who are actively engaged in the production process or delivering a service, put in.

Raw Materials Cost

The total cost associated with acquiring raw materials that are necessary for manufacturing goods.

Accounts Receivable

Money owed to a company by its customers for goods or services that have been delivered but not yet paid for.

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