Question: Assume that the organization is a charity that charges its

Assume that the organization is a charity that charges its “members” monthly dues totaling $100,000 per year (in both Year 1 and Year 2). However, the members get nothing for their dues. The organization has consistently recorded this amount as an increase in Cash along with an increase in revenues within the unrestricted net assets.
What was the correct amount of unrestricted net assets at the end of Year 2?


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  • CreatedOctober 04, 2014
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