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Homework answers / question archive / A not-for-profit organization receives $250 from a donor

A not-for-profit organization receives $250 from a donor

Accounting

A not-for-profit organization receives $250 from a donor. The donor receives two tickets to a theater show and an acknowledgment in the theater program. The tickets have a fair market value of $50. What amount is recorded as contribution revenue? 

 

250

200

50

0

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Given in the question,

Fair market value= 50

Amount received = 250

 

So,

Contribution Revenue = Donations - Expenses

= 250- 50

= 200

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