On December 15, 2016, a donor agrees to contribute $2 for every $1 that the agency...
On December 15, 2016, a donor agrees to contribute $2 for every $1 that the agency raises in its capital campaign, up to $50,000. The capital campaign began on February 1, 2017 and as of June 30, 2017 the organization has raised $10,000
How much should the organization record as a pledge receivable as of December 31, 2016?
Homework Answers
Since the donor agrees to contribute $2 for every $1 that the agency raises in its capital campaign, up to $50,000, the maximum receivables will be $1,00,000. So, the organization should record $1,00,000 as a pledge receivable as of December 31,2016. The agreement also came into effect from December 15,2016. Later the organization can reverse the receivables based on the actual receipt.
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On December 15, 2016, a donor agrees to contribute $2 for every
$1 that the agency...
On December 15, 2016, a donor agrees to contribute $2 for every $1 that the agency raises in its capital campaign, up to $50,000. The capital campaign began on February 1, 2017 and as of June 30, 2...
On December 15, 2016, a donor agrees to contribute $2 for every $1 that the agency raises in its capital campaign, up to $50,000. The capital campaign began on February 1, 2017 and as of June 30, 2017 the organization has raised $10,000 How much should the organization record as a pledge receivable as of December 31, 2016?
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