A nongovernment, not-for-profit organization provides the following information and asks you to determine how much revenue should
Question:
A nongovernment, not-for-profit organization provides the following information and asks you to determine how much revenue should be reported in each of its changes in net assets categories.
All pledges are unconditional
Cash contributions restricted to specific programs $200,000
Cash contributions restricted to endowment $1,000,000
Net realizable value of pledges to a building program resulting from current year fund raising efforts $450,000
Net realizable value of unconditional pledges resulting from current year fund raising efforts $105,000
Changes in
Unrestricted Net Assets
Temporarily Restricted Net Assets
Permanently Restricted Net Assets
a. $105,000 $650,000 $1,000,000
b. $105,000 $200,000 $1,450,000
c. $0 $305,000 $1,450,000
d. $0 $755,000 $1,000,000
Expert Answer:
