Indicate how the following contributed service would be recorded by a private, non-profit organization: Several members…

Indicate how the following contributed service would be recorded
by a private, non-profit organization:

Place Order

Several members of a local carpenter’s union donated their
time to building a new stage for the local theatre group.

The contribution is not recorded.

The contribution is recorded as revenue with an equal amount
recorded as expense.

The contribution is recorded as revenue with an equal amount
recorded as “other financing uses.”

The contribution is recorded as an asset with an equal amount
recorded as expense.

The contribution is recorded as an asset with an equal amount
recorded as contribution revenue.