At the beginning of the year, the Baker Fund, a nongovernmental not-for-profit corporation, received a $125,000 contribution restricted to youth activity programs. During the year, youth activities generated revenues of $89,000 and had program expenses of $95,000. What amount should Baker report as net assets released from restrictions for the current year?

Question

Dillan Solomon

Mathematics

8 August, 13:41

At the beginning of the year, the Baker Fund, a nongovernmental not-for-profit corporation, received a $125,000 contribution restricted to youth activity programs. During the year, youth activities generated revenues of $89,000 and had program expenses of $95,000. What amount should Baker report as net assets released from restrictions for the current year?

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Taylor Hudson · Answer 1

Amount $95,000 should Baker report as net assets released from restrictions for the current year

Step-by-step explanation:

here the net amount assets are released from restriction and we know the $125,000 contributed for youth activity programs and $95,000 expenses and $89,000 revenues generated by youth activities is irrelevant here so Amount $95,000 should Baker report as net assets released from restrictions for the current year