1. Received a contribution of stock to establish an endowment fund. The income f

1. Received a contribution of stock to establish an endowment fund. The income from the endowment is unrestricted. The donor had acquired the stock for $23000 about 20 years earlier. Its estimated fair value when donated was $250000.2. Pledges receivable at year end were $100000 all from pledges received during the year. The pledges are unrestricted and 5% percent of the pledges are estimated to be uncollectible.
For questions 3-5 assume that the organization has adopted a policy that restrictions on donations made for capital purposes are met when the capital item is purchased.3. A cash gift of $200000 was received restricted for the purchase of equipment.4. Equipment of $80000 was purchased from the gift restricted for this purpose.5. Deprecation expense for the year on the equipment purchased is $10000.For questions 6-8 assume that the organization has adopted a policy that restrictions on donations made for capital purposes are not met when the capital item is purchased.6. A cash gift of $200000 was received restricted for the purchase of equipment.7. Equipment of $80000 was purchased from the gift restricted for this purpose.8. Deprecation expense for the year on the equipment purchased is $10000.