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Business, 18.12.2019 06:31 Heyitsbrandi

Lifeworks is a nongovernment not-for-profit organization that recently received a large gift from a donor in the amount of $3,000,000 in cash. the donor wishes to leave a legacy and therefore specified that lifeworks cannot spend the $3,000,000 but can invest the $3,000,000 and use any earnings from the investments to support the organization. in the first year, $100,000 was earned but has not yet been spent. how would the $3,000,000 gift and the $100,000 in earnings impact the net assets of lifeworks?

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