1) When are the pledges recorded?

- When the contributed dollars are used

- When the restriction for use in 2021 was expired

- When the cash is received

- When the promise made

Use the following information to answer the next 8 questions regarding Contributions

A not-for-profit organization receive these contributions in the current fiscal year.

• Cash contributions to the Anytown YMCA included an unrestricted of $150,000, and $40,000 restricted for youth programs.
• The YMCA received pledges of $420,000 during 2020 of which $60,000 was restricted for use during 2021 and $360,000 was unrestricted. It is expected that 15% of the unrestricted pledges will not be collected. The YMCA uses the accounts Pledges Receivable and Allowance for Uncollectible Pledges
• A capital campaign raised $400,000 for a new building.
• Received a cash gift for an endowment. The donor, Mr. & Mrs. Smith states that the $500,000 donations must be set up in a separate investment account (called Smith Endowment) and that only the earnings can be used for operations.
• Accounting services were donated by a local CPA firm. The services donated are valued at $7,000

2) What is the total unrestricted (without donor restrictions) contributions reported for the fiscal year base on all of the given information?

3) What is the total donor restricted (with donor restrictions) contributions reported for the fiscal year base on all of the given information?