Question
During the year, Haggerty College received the following: An unrestricted $125,000 pledge to be paid the following year. A $40,000 cash gift restricted for scholarships.
During the year, Haggerty College received the following:
- An unrestricted $125,000 pledge to be paid the following year.
- A $40,000 cash gift restricted for scholarships.
- A notice from a recent graduate that the college is named as a beneficiary of $20,000 in that graduate's will.
What amount of contribution revenue should Haggerty College report in its statement of activities?
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Management and Cost Accounting
Authors: Alnoor Bhimani, Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan
6th edition
1292063467, 978-1292063461
