Question

Record the following transactions in the accounts of a nongovernment VHWO or ONPO.
1. Unconditional pledges made to the organization during the year total $1,000,000 unrestricted and $500,000 restricted to a specific program. All of the restricted pledges are collected during the year and 75% of the unrestricted pledges are collected; 20% of the uncollected pledges outstanding at year end are expected to be uncollectible.
2. Cash gifts of $300,000 are collected during the year. These gifts are restricted for permanent endowment purposes.
3. Qualifying costs of $222,000 are incurred for the program for which restricted pledges were received.
4. Conditional pledges made to the organization during the year total $90,000 (unrestricted). None were collected during the year.



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  • CreatedOctober 25, 2014
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