USCPA每日一练之FAR【2015-12-20】

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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 gernerated revenues of $89,000 and had program expenses of $95,000. What amount should Baker report as assets released from restrictions for the current year?

a. $0

b. $6,000

c. 95,000

d. 125,000

Answer:C

Choice "c" is correct. Restricted donations are released from restriction when conditions or eligibility requirements have been satisfied. The Baker Fund has satisfied the restriction on $95,000 by spending the money on program expenses.

Choice "a" is incorrect. Baker Fund met donor stipulations during the year. The Fund's actions released the restrictions.

Choice "b" is incorrect. The donor did not stipulate that the program income reduced the eligible expenses used to satisfy the restrictions of the bequest. Choice "d" is incorrect. The entire amount of the donation was not released from restriction, only the amount used to satisfy the donor's stipulations.

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