A public college was the recipient of an annuity gift. The elderly alumnus donated cash of $110,000 and investments of $610,000 with the restriction that the college pays them a sum of $50,000 per year for five years
If the annuity payable has been actuarially valued at $305,000, the college should report revenues upon receipt of the gift in the amount of
A. $120,000.
B. $370,000.
C. $415,000.
D. $720,000.
C
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A) dividing the cost of goods available for sale by the number of units available B) dividing the cost of goods available for sale by the number of units in beginning inventory C) multiplying the number of units purchased with the weighted-average cost D) multiplying the cost of goods available for sale by the ending weighted-average cost of the previous accounting period
A treasurer is responsible for a firm's accounting activities, such as corporate accounting, tax management, financial accounting, and cost accounting
Indicate whether the statement is true or false