Southern Coast (Private) University Received the Following Pledges During 20X4

question 24

Essay

Southern Coast (private) University received the following pledges during 20X4:
a.Joy Dance pledges $60,000 to be paid over a three-year period beginning at the end of this year. Southern Coast discounts this contribution at 10%. The present value is $49,737.
b.As a result of a pledge drive, $500,000 is pledged to be paid by the end of the accounting year. Ten percent of pledges in the past have been shown to be uncollectible.Required:Make the necessary journal entries to record the pledges.

Recognize programs aimed at reducing economic insecurity and their mechanisms.

Understand the concept of the adverse selection death spiral and its implications for the health insurance market.

Identify the primary payers of health care costs in the United States.

Compare health care expenditures and the government's role in health care spending between the United States and other countries.

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Definitions:

Public Choice Theory

An economic theory that applies principles of economics to political science, analyzing how public decisions are made and how public officials behave.

Government Expenditures

The total amount spent by the government for its operations, projects, social welfare, and public services.

Gross Domestic Product (GDP)

The complete value, in terms of money or market, of all final products and services made inside a nation's boundaries over a certain time frame.

Collective Action

The pursuit of a goal or set of goals by multiple people or entities working together, often in the context of addressing public goods or common interests.