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How much is included in temporarily restricted net assets

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Reference no: EM132797287

An NPO disclosed the following in its 20x1 notes to financial statements:

a. Received shares valued at ?2,000,000 to be retained with the dividends used to support current operations.

b. Net resources of ?1,000,000 invested in plant assets.

c. Received equipment valued at ?5,000,000 which is to be sold with the proceeds used to renovate the children's playground.

d. Board-designated funds of ?600,000.

e. Received ?20,000 cash from a donor who did not specify any use restrictions on the contribution; however, the donor specified that the donation should not be used until 20x2.

f. Received ?800,000 from a donor who stipulated that the contribution shall be invested indefinitely and that the earnings shall be used for research purposes. Investment income in 20x1 amounted to ?50,000.

Question 1: How much is included in unrestricted net assets?

Question 2: How much is included in temporarily restricted net assets?

Question 3: How much is included in permanently restricted net assets?

Reference no: EM132797287

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