This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Steve Watson, a local certified public accountant (CPA), donates a significant amount of his spare ... (Read 99 times)

mwit1967

  • Hero Member
  • *****
  • Posts: 501
on: Jul 5, 2018
Steve Watson, a local certified public accountant (CPA), donates a significant amount of his spare time to Beth's Gallery, a not-for-profit museum. He donates 50 hours to audit the books and 80 hours selling products at the museum store.
 
  He charges his regular clients 200 an hour as a CPA. How should the Gallery report Mr. Watson's donation of time?
   a. report 26,000 (130 hours  200) as contribution revenue and expense
   b. report 0 as contribution revenue and expense, and describe Mr. Watson's services to the museum in a note to the statements
   c. report 10,000 (50 hours  200) as contribution revenue and expense; also, disclose in a note to the statements the fair value of selling services provided by Watson and others
   d. report 10,000 (50 hours  200) plus the fair value of the selling services provided by Watson and others

Question 2

Decoupling the data from the system applications is called ___________________ ___________.
 Fill in the blank(s) with correct word


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

dpost18

  • Sr. Member
  • ****
  • Posts: 345
Reply #1 on: Jul 5, 2018
Answer to Question 1

c

Answer to Question 2

data independence


mwit1967

  • Member
  • Posts: 501
Reply 2 on: Jul 5, 2018
Excellent

bdobbins

  • Member
  • Posts: 326
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Booker T. Washington in his office at Tuskegee Institute, 1900. Washington chose a policy of accommo Booker T. Washington in his office at Tuskegee Institute, 1900. Washington chose a policy of accommo
Qualifications of Certified Medical Administrative Specialist Qualifications of Certified Medical Administrative Specialist
Clinically Significant Drug-Drug Interactions in Dentistry Clinically Significant Drug-Drug Interactions in Dentistry
Route for administrative of local anesthesia Route for administrative of local anesthesia
Calculate the amount of interest that will be charged on $9000.00 borrowed for four months at ... Calculate the amount of interest that will be charged on $9000.00 borrowed for four months at ...
James Watson and Francis Crick’s metal-and wire model of DNA James Watson and Francis Crick’s metal-and wire model of DNA
Video: Cavernous Sinus Larynx Middle Ear Orbit: Granulesm Animation

For a complete list of videos, visit our video library