How should the following revenues be reported by a private college?
-$15,000 for the improvement of a study lounge,
-$5,600 in unrestricted contributions,
-$600 unrestricted investment income on endowment investments,
-$11,600 sales of services by auxiliary enterprises.
Unrestricted Restricted
A) 32,800 0
B) 17,800 15,000
C) 17,200 15,600
D) 5,600 27,200

Question

Quizplus · Accepted Answer

The $15,000 for the improvement of a study lounge is restricted revenue. The $5,600 in unrestricted contributions, $600 unrestricted investment income, and $11,600 from sales of services are unrestricted revenues.

How Should the Following Revenues Be Reported by a Private