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need to hepl with this problem. You are preparing a statement of activities for the University of Richland, a private not-for-profit entity. The following questions
need to hepl with this problem.
You are preparing a statement of activities for the University of Richland, a private not-for-profit entity. The following questions should b viewed as independent of each other. Part 1 During the current year, a donor gives $400.000 cash to the school and stipulates that the money must be held forever. Any investment income earned on this money must be used to supplement faculty salaries. By the end of the current year, $31,000 has been earned and, that amount, the school has expended $22,000 appropriately. At the end of the current year, the board of trustees also set aside $150,000 in unrestricted cash that must be held with income going to ficulty salaries. What was the overall change in each of the following for the year? a. Net assets without donor restrictions b. Net assets with donor restrictions Partil At the beginning of the current year, Ms Landis made several contributions to the school: 4 eash gift of $90.000 that must be spent for liatening rooms for the music department, a cash gift of $50,000 that must be invested and spent in the following yeat, an cash gif of 570.000 that must be feturned unless the football team wins 10 games in a single season (over the next thire yeats), and an pledge of \$300,000 that Will be be paid carly in the following year if the school manages to raise the averise SAT score of its btudents by 10 points What was the overall change in each of the following for the year? a. Net assets without donor restrictions b. Net assets with donor restrictions Part III Several yeats ago, a donor presented the school with $400,000 in cash to help fund its inancial ald program. This year, the scheol chareci itudents $2 million in fuition but granted $700.000 in financal aid. The donoe' gift ottiets $300.000 of the financial ard. Collections to date from the stisdents have totaled $1.1 million. What was the owerall change in each of the following for the year? a. Net arsets without donor fetritictions b. Net assets with donor restrictions Step by Step Solution
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