_____ Status State University (SSU) has volunteers who (a) regularly provide teaching services to SSU and (b) are paid only nominal amounts to reimburse them for their commuting costs. During 2006, SSU paid $33,000 to these volunteers (retired scientists who teach science courses on a part-time basis). The gross value of services performed by these volunteers amounted to $400,000. What amount should be reported for expenditures in 2006 for these volunteers' services?

Question

_____	Status State University (SSU) has volunteers who (a) regularly provide teaching services to SSU and (b) are paid only nominal amounts to reimburse them for their commuting costs. During 2006, SSU paid $33,000 to these volunteers (retired scientists who teach science courses on a part-time basis). The gross value of services performed by these volunteers amounted to $400,000. What amount should be reported for expenditures in 2006 for these volunteers' services?

Quizplus · Accepted Answer

The amount reported for expenditures should be the gross value of services performed, which is $400,000, as this reflects the true value of the services provided by the volunteers.

_____ Status State University (SSU) Has Volunteers Who (A) Regularly Provide