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Can't figure this one out -- Donor gave $400K to school in prior year to assist with financial aid program. This year, school charged $2M in tuition....
Can't figure this one out --
Donor gave $400K to school in prior year to assist with financial aid program.
This year, school charged $2M in tuition.
School provided $700K in financial aid.
School received $1.1M in tuition payments.
Donor's gift offset $300K of financial aid.
Need to determine (1) how much unrestricted net assets increased by, and (2) how much temporarily restricted assets decreased by...
Thanks in advance!