Question

In: Accounting

How much of temporarily restricted funds did the college expend during the year? Is this the...

How much of temporarily restricted funds did the college expend during the year? Is this the money released from Temporarily restricted assets to unrestricted?

Solutions

Expert Solution

As we know all the expenditure cannot be planned through out the year.

So there are many expense that will be incurred in our financial year.

There are some assets which can be set aside for some specified expenses. That assets are termed as restricted assets.

But in some exceptional cases these restricted assets can be used to emergency expenses in most wanted situation.

So these can be used for other purposes also.

Yes these money will he come from restricted assets .

That restricted assets can be released to as unrestricted assets and use those assets in the emergency purposes.

So not only in the case of colleges but also in any bussiness this situation may arise . In those type of situation at the last option restricted assets can be treat as unrestricted assets and those amount will be use for any purpose.

These are the points about the above given question.

I hope, all the above mentioned points are helpful to you.

Thank you.


Related Solutions

How much free cash flow did the firm generate during the just-completed year? pleae show your...
How much free cash flow did the firm generate during the just-completed year? pleae show your work step by step if you hand write if you use excel to solve please reveal the neccassary fomulas Walmart had the following data last year: Net Income $800 Net operating profit after taxes (NOPAT) = $700 Total Assets = $3,000 Total operating capital =$2,000 Information for the just completed year is as follows: Net Income $1,000 Net operating profit after taxes (NOPAT) =...
1. A random sample of 10 Harper College students was asked the question, “How much did...
1. A random sample of 10 Harper College students was asked the question, “How much did you spend on textbooks this semester?” Below are the data of their responses: Amount Spent ($) 292 240 316 361 449 428 402 286 349 250 Construct and interpret a 95% confidence interval for the mean amount spent for textbooks by all Harper College students. What was the margin of error associated with your estimate? Explain its meaning. Follett claims the mean amount spent...
What milestone did Amazon temporarily pass in September 2018? Explain. How is the success of the...
What milestone did Amazon temporarily pass in September 2018? Explain. How is the success of the megacompanies Apple and Amazon very different? Explain. What are examples of some of Amazon’s less than successful ventures? Explain. Why does Mr. Nussbaum bet against Amazon? Explain the reason he is a “Amazon skeptic”. Finally, why do you think Wall Street investors believe that Amazon, not Apple, will be the first $2 trillion company? Of the two companies, which stock would you purchase and...
THE DEMOTIVATION OF CEO PAY How much did your CEO get paid this year? What did...
THE DEMOTIVATION OF CEO PAY How much did your CEO get paid this year? What did any CEO get paid? You may not know the exact amounts, but you probably think the answer is, “Too much money.” According to research from 40 countries that probed the thoughts of CEOs, cabinet ministers, and unskilled employees, we all think leaders should be paid less. Beyond that, we are clueless. Where we err (fail to adhere to the proper or accepted standards) can...
Southeastern College began the year with endowment investments of $1,200,000 and $700,000 of restricted cash designated...
Southeastern College began the year with endowment investments of $1,200,000 and $700,000 of restricted cash designated by a donor for capital additions. During the year an additional $500,000 donation was received for capital additions. These funds, together with those contributed in the prior year, were used to purchase 150 acres of land adjacent to the university. An alum contributed $200,000 to the permanent endowment and pledged to provide an additional $400,000 early next year. The cash was immediately invested. By...
Southeastern College began the year with endowment investments of $1,290,000 and $780,000 of restricted cash designated...
Southeastern College began the year with endowment investments of $1,290,000 and $780,000 of restricted cash designated by a donor for capital additions. During the year an additional $508,000 donation was received for capital additions. These funds, together with those contributed in the prior year, were used to purchase 150 acres of land adjacent to the university. An alum contributed $280,000 to the permanent endowment and pledged to provide an additional $500,000 early next year. The cash was immediately invested. By...
Southeastern College began the year with endowment investments of $1,200,000 and $700,000 of restricted cash designated...
Southeastern College began the year with endowment investments of $1,200,000 and $700,000 of restricted cash designated by a donor for capital additions. During the year an additional $500,000 donation was received for capital additions. These funds, together with those contributed in the prior year, were used to purchase 150 acres of land adjacent to the university. An alum contributed $200,000 to the permanent endowment and pledged to provide an additional $400,000 early next year. The cash was immediately invested. By...
A college administrator would like to determine how much time students spend on homework assignments during...
A college administrator would like to determine how much time students spend on homework assignments during a typical week. It is known that the standard deviation for the time students spend on homework is 3 hours per week.    A questionnaire is sent to sample of n=100 students and their response indicates a mean of 7.4 hours per week. Now make an interval estimate of population mean so that you are 99% confident that the "true" mean is in your interval....
How much net cash flow did Woodley generate over the past year?
The following information for Towsontown, Inc. is provided:Net Sales:                                $88,000Operating Costs:                     $72,000 (doesn’t include depreciation)Depreciation Expense:             $ 7,200 (no amortization charges occurred)Debt:                                       $40,000Interest Rates:                          10% AnnualTax Rate:                                 34%How much net cash flow did Woodley generate over the past year?a.     $3,168       b.     $3,268       c.     $10,168       d.     $10,368       e.     $11,368
How much interest will you pay during the eighth year of a 25-year $350,000 loan with...
How much interest will you pay during the eighth year of a 25-year $350,000 loan with an APR of 5.5% if you only make the minimum monthly payments? A. $17,293 B. $15,941 C. $16,139 D. $28,989
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT