During the annual fund-raising drive, the Cancer Society raised $900,000 in pledges of financial support for general operations.By fiscal year-end, the society had collected $600,000 of the pledges.The society estimates that 10% of the remaining pledges will be uncollectible.The NET amount of revenue the society should recognize during the current year from this pledge drive is
A) $900,000.
B) $870,000.
C) $810,000.
D) $600,000.
Use the following information to answer Questions 17 through 20.
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.
Correct Answer:
Verified
Q21: Which of the following characteristics most clearly
Q25: United Charities’ annual fund-raising drive in 2016
Q26: St. Mary's Extended Care Center, a not-for-profit
Q27: The increase in temporarily restricted net assets
Q28: In 2017, the change in temporarily restricted
Q29: The National Association for the Preservation of
Q33: Restricted gifts to not-for-profit organizations
A)Must always be
Q36: The account titled "Resources released from restriction"
Q37: In a prior year, United Charities received
Q38: Grace Church, a not-for-profit entity, operates a
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