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In Year 1, Gamma, a not-for-profit organization, deposited at a bank $1,000,000 given to it by a donor to purchase endowment securities. The principal of this contribution is not to be spent according to the donor's restrictions. The securities were purchased January 2, Year 2. At December 31, Year 1, the bank recorded $2,000 interest on the deposit. In accordance with the bequest, this $2,000 was used to finance ongoing program expenses in March Year 2. At December 31, Year 1, what amount of the bank balance should be included as current assets in Gamma's classified balance sheet?
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