美国CPA模拟试题：政府与非盈利组织（三）

In Year 1, Community Helpers, a private voluntary health and welfare organization, received a bequest of a $100,000 certificate of deposit maturing in Year 11. The testator's only stipulations were that this certificate be held until maturity and that the interest revenue be used to finance salaries for a preschool program. Interest revenue for Year 11 was $8,000. When the certificate was redeemed, the board of trustees adopted a formal resolution designating $20,000 of the proceeds for the future purchase of equipment for the preschool program.

What should be reported as "unrestricted contributions" in the Year 11 statement of activity?

a. $20,000.

b. $0.

c. $108,000.

d. Investment income, $8,000.

Explanation

Choice "b" is correct. $0. Community Helpers never received unrestricted contribution revenue from the bequest. Community Helpers received a temporarily restricted donation of $100,000 that reached maturity, satified the donor's restriction and was reclassified to increase unrestricted net assets.

Choice "d" is incorrect. The $8,000 investment income from long-term investment is displayed as "temporarily restricted" and likely disclosed as restricted for salaries for a preschool program. Under the terms of the bequest, the interest earnings are not unrestricted.

Choice "a" is incorrect. The board's formal resolution designating $20,000 of the maturing CD for the future purchase of equipment is a designation within equity (net assets) not revenues. The designation would not represent "unrestricted contributions."

Choice "c" is incorrect. The $100,000 CD bequest was reported in Year 1 as "contributions-temporarily restricted." When it matures in Year 11, it is reported as "$100,000 net assets released from restrictions - expiration of time." The $8,000 was investment income "temporarily restricted," not revenues "unrestricted."