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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?
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