United Charities annual fund-raising drive in 2016 raised pledges of $1,200,000 of which $800,000 were collected in
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United Charities’ annual fund-raising drive in 2016 raised pledges of $1,200,000 of which $800,000 were collected in 2016 and $200,000 were collected in 2017.
United Charities estimates $150,000 of the remaining pledges will never be collected.
a. What is the increase in unrestricted net assets in 2016 as a result of the fund-raising drive?
b. What is the increase in temporarily restricted net assets in 2016 as a result of the fund-raising drive?
c. In 2017, what is the change in temporarily restricted net assets?
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