Question
During the year, the New museum conducted a fund-raising campaign. As of year-end it received cash of $338 and pledges for $180. How does the
During the year, the New museum conducted a fund-raising campaign. As of year-end it received cash of $338 and pledges for $180.
How does the New Museum recognize revenue?
| In a Fund without donor restrictions: Dr. Cash $338 Cr. Revenue from contributions without donor restrictions $338 in a Fund with donor restrictions Dr. Pledges receivable (restricted by donor) $180 Cr. Revenue from contributions without donor restrictions $180 | ||
| In a Fund with donor restrictions: Dr. Cash $338 Cr. Revenue from contributions without donor restrictions $338 in a Fund without donor restrictions: Dr. Pledges receivable $180 Cr. Revenue from contributions without donor restrictions $180
| ||
| In a Fund without donor restrictions: Dr. Cash $338 Dr. Pledges receivable $180 Cr. Revenue from contributions without donor restrictions $518
| ||
| In a Fund with donor restrictions: Dr. Cash $338 Dr. Pledges receivable $180 Cr. Revenue from contributions without donor restrictions $518
|
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