Hello,
I just started an accounting job at a church and am trying to clean up the books. A few years ago, the church took donations to give an endowment to a community fund. It's listed as an asset on the balance sheet. My question is should the whole endowment be an asset or the interest thats accrued? Thank you in advance.
I just started an accounting job at a church and am trying to clean up the books. A few years ago, the church took donations to give an endowment to a community fund. It's listed as an asset on the balance sheet. My question is should the whole endowment be an asset or the interest thats accrued? Thank you in advance.