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

Author Question: A wealthy alum donated land to a state college to be used for a new athletics facility. The land has ... (Read 96 times)

hbsimmons88

  • Hero Member
  • *****
  • Posts: 526
on: Jul 5, 2018
A wealthy alum donated land to a state college to be used for a new athletics facility. The land has a fair market value of 250,000 . The donor purchased the land ten years ago at a cost of 75,000 .
 
  The entry to record the receipt of the donation would be
 
   dr cr
 
  a. Land 250,000 Capital Contributions 250,000
  b. Land 250,000 Other Financing Sources 250,000
  c. Land  75,000 Capital Contributions  75,000
  d. Land 250,000
   Special Item 250,000
  e. Land  75,000
   Special Item  75,000

Question 2

Which account would normally not require an adjusting entry?
 a. Wages Expense
  b. Accounts Receivable
  c. Accumulated Depreciation
  d. Cash


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ryansturges

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Jul 5, 2018
Answer to Question 1

A

Answer to Question 2

d


hbsimmons88

  • Member
  • Posts: 526
Reply 2 on: Jul 5, 2018
:D TYSM

ultraflyy23

  • Member
  • Posts: 312
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Events of the absorptive state. Events of the absorptive state.
Pre–steady state kinetic evidence for an acyl-enzyme intermediate Pre–steady state kinetic evidence for an acyl-enzyme intermediate
Change in Emotional States During Adolescence Average emotional state becomes teadilyi more negativ Change in Emotional States During Adolescence Average emotional state becomes teadilyi more negativ
Enthalpic stabilization of the transition state in an enzyme-catalyzed reaction Enthalpic stabilization of the transition state in an enzyme-catalyzed reaction
College Band College Band
Birds-eye view of land Birds-eye view of land
Video: DNA fingerprinting Animation

For a complete list of videos, visit our video library