At the beginning of the year, the Baker Fund, a
non-governmental not-for-profit corporation, received a $125,000
contribution restricted to youth activity programs. During the
year, youth activities generated revenues of
$89,000 and had program expenses of $95,000. What amount
should Baker report as net assets released from restrictions for
the current year?
a.
$0
b.
$6,000
c.
$95,000 , answer
d.
$125,000
program expense is 95000, how come it becomes net asset release?
please explain
2. Functional expenses recorded in...