bellow are some of the New York State Society of CPAs (NYSSCPA) transactions for 2021.
Required
For each item above, indicate what category of net assets it affects on the NYSSCPA 2021 statement of activities, if any. Use the abbreviations listed bellow.
Net assets without donor restrictions (NR)
Net assets with donor restrictions (R)
Does not affect net assets (N/A)
-In 2020, a donor signed a contract promising to contribute $1,000,000 to the NYSSCPA at the end of five years. The contract was reported at present value, using an appropriate discount rate.

Question

Quizplus · Accepted Answer

The contribution promised by the donor is restricted until the conditions specified by the donor are met (in this case, the passage of five years), so it affects net assets with donor restrictions (R).

Bellow Are Some of the New York State Society of CPAs