University of Phoenix ACC 460 December 23, 2019 1)Cash donations without donor restrictions of $25,000 were received. A local philanthropist also contributed $3,000, which was to be used for the purchase of Thanksgiving dinner foodstuffs A local grocery store provided fresh produce with a fair value of $100. The produce was immediately used. Volunteers from the local university contributed 100 hours to preparation and serving of meals. The estimated fair value of their labor was $750. The Kitchen received $5,000 federal grant for the purchase of institutional kitchen appliances. At Thanksgiving time, the Kitchen spent $4,100 on foodstuffs for preparations on the Thanksgiving dinner.

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University of Phoenix ACC 460 December 23, 2019 1)Cash donations without donor restrictions of $25,000 were received

Accounting May 21, 2021

University of Phoenix

ACC 460

December 23, 2019

1)Cash donations without donor restrictions of $25,000 were received. A local philanthropist also contributed $3,000, which was to be used for the purchase of Thanksgiving dinner foodstuffs

A local grocery store provided fresh produce with a fair value of $100. The produce was immediately used.

Volunteers from the local university contributed 100 hours to preparation and serving of meals. The estimated fair value of their labor was $750.

The Kitchen received $5,000 federal grant for the purchase of institutional kitchen appliances.

At Thanksgiving time, the Kitchen spent $4,100 on foodstuffs for preparations on the Thanksgiving dinner.

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