Golden Path,a labor union,had the following receipts and expenses for the year ended December 31,20X8:
The union's constitution provides that 12 percent of the per capita dues be designated for the strike insurance fund to be distributed for strike relief at the discretion of the union's executive board.
-Based on the information provided,in Golden Path's statement of activities for the year ended December 31,20X8,what amount should be reported under the classification of revenue from funds without donor restrictions?
A)$980,000
B)$1,100,000
C)$1,210,000
D)$1,020,000

Question

Golden Path,a labor union,had the following receipts and expenses for the year ended December 31,20X8:
  The union's constitution provides that 12 percent of the per capita dues be designated for the strike insurance fund to be distributed for strike relief at the discretion of the union's executive board.
-Based on the information provided,in Golden Path's statement of activities for the year ended December 31,20X8,what amount should be reported under the classification of revenue from funds without donor restrictions?
A)$980,000 
B)$1,100,000 
C)$1,210,000 
D)$1,020,000

Quizplus · Accepted Answer

The correct amount to report under the classification of revenue from funds without donor restrictions is $1,100,000. This is determined by adding together all sources of revenue that are not restricted by donors, which typically includes general donations, revenue from activities related to the organization's mission, and any other unrestricted funding.

Golden Path,a Labor Union,had the Following Receipts and Expenses for the Year