A donor pledged $100,000 to the fund raising drive of a local government to assist its police officers in obtaining the latest technology. The pledge was made on July 16, 2008 but was conditioned on the government raising an additional $100,000 from other donors. By the fiscal year-end of June 30, 2009, the local government had raised only $5,000 from other donors. What entry would be made for the initial pledge by the local government during the year ended June 30, 2009?

Question

Quizplus · Accepted Answer

The pledge is conditional upon raising an additional $100,000, which was not met by the fiscal year-end. Therefore, no entry is made as the condition has not been fulfilled.

A Donor Pledged $100,000 to the Fund Raising Drive of a Local