It is the policy of St. David’s Hospital, a not-for-profit business oriented hospital, is to record...
It is the policy of St. David’s Hospital, a not-for-profit business oriented hospital, is to record all gifts, bequests, and investment income as Nonoperating Income. Nonoperating revenues related to undesignated resources amounted during the year is as follows: 25,000 in unrestricted gifts and bequests, $18,000 in unrestricted income on endowment investments and $3,800 from income on investments other than endowment. What is the correct journal entry to record this event? Multiple Choice Cash 46,800 Nonoperating Income-Unrestricted 28,800 Nonoperating Income-Restricted-Investment Income 18,000 Cash 46,800 Nonoperating Income-Unrestricted-Gifts and Bequests 25,000 Nonoperating Income-Restricted-Income on Investments 21,800 Cash 46,800 Nonoperating Income-Unrestricted-Gifts and Bequests 25,000 Nonoperating Income-Unrestricted-Income on Investments Of Endowment Funds 18,000 Nonoperating Income-Unrestricted-Investment Income 3,800 Cash 46,800 Nonoperating Income-Unrestricted-Gifts and Bequests
25,000 Nonoperating Income-Unrestricted-Investment Income 21,800
Homework Answers
| Account Titles | Debit | Credit |
| Cash | $ 46,800.00 | |
| Nonoperating Income-Unrestricted-Gifts and Bequests | $ 25,000.00 | |
| Nonoperating Income-Unrestricted-Income on Investments Of Endowment Funds | $ 18,000.00 | |
| Nonoperating Income-Unrestricted-Investment Income | $ 3,800.00 |
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It is the policy of St. David’s Hospital, a not-for-profit
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