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Author Question: The majority of businesses end their fiscal year on December 31. a. True b. False Indicate ... (Read 121 times)

rosent76

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on: Jul 5, 2018
The majority of businesses end their fiscal year on December 31.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

Stock valued at 15,000 was donated to a college. The donor stipulated that the stock was to be immediately sold and the proceeds used toward college's capital campaign. The entry to record the receipt of the gift would be
 
   Debit Credit
 
  A. Restricted Assets  Capital Campaign
   Revenue 15,000
  15,000
  B. Restricted Assets  Capital Campaign
   Deferred Revenue 15,000
  15,000
  C. Investments
   Deferred Revenue 15,000
  15,000
  D. Investments
   Special Item 15,000
  15,000


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sierramartinez

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Reply #1 on: Jul 5, 2018
Answer to Question 1

True

Answer to Question 2

B


rosent76

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  • Posts: 516
Reply 2 on: Jul 5, 2018
Wow, this really help

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

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