United Charities’ annual fund raising drive in 2018 raised pledges of $1,200,000 of which $800,000 were collected in 2018 and $200,000 were collected in 2019. United Charities estimates $150,000 of the remaining pledges will never be collected. 5. The increase in net assets without donor restrictions in 2018 as a result of the fund raising drive is A. $1,200,000. B. $1,050,000. C. $800,000. D. $250,000. 6. In 2019, the dollar change in temporarily restricted net assets is A. $0 B. $200,000 increase. C. $200,000 decrease. D. $1,000,000 decrease.

Question

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ogbe2k3 ogbe2k3 · Answer 1 · 2020-05-17T03:51:55+02:00

Answer:

The answer for question 5 is option (C). $800,000 for question 6 is (C). $200,000 decrease.

Explanation:

Solution

From the given question, we solve for question 5 and 6

Given that:

(5) The increase in assets (net) without restrictions of donor in 2018 was a result of the fund raising drive of $800,000

In 2018, $800,000 was collected

(6) In 2019, the change in dollar restricted temporarily of net assets is, $200,000

There was a $200,000 decrease or reduction ($200,000 is collected in 2019)