You are reviewing the accounting for contributions for the year and notice an entry to record receipt of an unrestricted contribution in the amount of $120,000. This contribution was made in shares of stock with a market value of $135,000 when received, but which had fallen to a value of $120,000 when sold and the entry made. You notice that the letter accompanying the shares of stock referred to your capital campaign for renovation of your headquarters building and that the money was to be used for that purpose. Which of the following statements is correct? a. The entry is incorrect and should have recorded the receipt as a contribution with donor restrictions in the amount of $135,000 with a subsequent write-down of the investment.
b. The entry is incorrect and should have recorded the receipt as a contribution with donor restrictions in the amount of $120,000.
c. The entry is incorrect and should have recorded the receipt as an unrestricted contribution in the amount of $135,000 with a subsequent write-down of the investment.
d. The original accounting as an unrestricted contribution in the amount of the $120,000 value of the stock when sold is correct.

Symantec corp., located in cupertino, california, is one of the world's largest producers of security and systems management software. the company's consolidated balance sheets for the 2009 and 2008 fiscal years included the following ($ in thousands): current assets: receivables, less allowances of $21,766 in 2009 and $24,089 in 2008 $ 838,010 $ 758,700 a disclosure note accompanying the financial statements reported the following ($ in thousands): year ended 2009 2008 (in thousands) trade accounts receivable, net: receivables $ 859,776 $ 782,789 less: allowance for doubtful accounts (8,938) (8,990) less: reserve for product returns (12,828) (15,099) trade accounts receivable, net: $ 838,010 $ 758,700 assume that the company reported bad debt expense in 2009 of $2,000 and had products returned for credit totaling $3,230 (sales price). net sales for 2009 were $6,174,800 (all numbers in thousands).required: what is the amount of accounts receivable due from customers at the end of 2009 and 2008? what amount of accounts receivable did symentec write off during 2009? what is the amount of symentec’s gross sales for the 2009 fiscal year? assuming that all sales are made on a credit basis, what is the amount of cash symentec collected from customers during the 2009 fiscal year?

The following data pertains to activity and costs for two months: june july activity level in 10,000 12,000 direct materials $16,000 $ ? fixed factory rent 12,000 ? manufacturing overhead 10,000 ? total cost $38,000 $42,900 assuming that these activity levels are within the relevant range, the manufacturing overhead for july was: a) $10,000 b) $11,700 c) $19,000 d) $9,300

Carrie works at a canned food production factory. the government wanted to give a boost to the salt industry, so it lined up numerous subsidies and tax exemptions for the sector. this lead to a decrease in production costs. this also meant that consumers could access canned foods at a lower price, which lead to an increase in demand for the product. which kind of economic system is carrie’s company dealing with? carrie’s company is dealing with a/an economy.