------------------------------------------------------------------------------- ACC 577 Week 1 Quiz ( 100 % Correct Answers )
program . The endowment fund reported $ 60,000 net decrease in market value and $ 30,000 investment income . The organization spent $ 45,000 on the mental health program during the year . What amount of change in temporarily restricted net assets should the organization report ?
Question 20
Lema Fund , a voluntary welfare organization funded by contributions from the general public , received unrestricted pledges of $ 200,000 during 2005 . It was estimated that 10 % of these pledges would be uncollectible . By the end of 2005 , $ 130,000 of the pledges had been collected . It was expected that $ 50,000 more would be collected in 2006 and that the balance of $ 20,000 would be written off as uncollectible . What amount should Lema include under public support in 2005 for net contributions ?
------------------------------------------------------------------------------- ACC 577 Week 1 Quiz ( 100 % Correct Answers )
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