fill in the balnk If a 501c3 college runs a book store that is operated in a manner such that it is subject to UBIT, then a way to avoid UBIT would be to have the store run by A) volunteers B) only 15% paid staff C) selling only donated merchandise D) all of the above
Q: The Blending Department of Ivanhoe Company has the following cost and production data for the month…
A: Process costing is used to record cost of various stages of production. In process costing finished…
Q: Concord Industries operates two support departments, Personnel and Accounting, and two producing…
A: Company use reciprocal method of allocating support cost : Total cost of Personnel department (P) =…
Q: Waterway Company changed depreciation methods in 2020 from double-declining-balance to…
A: Depreciation a non-cash charge allows a company to make provisions related to the replacement of the…
Q: Swifty Company is considering two capital investment proposals. Estimates regarding each project are…
A: IRR is a rate at which the present value of cash inflows is equal to the present value of cash…
Q: A family friend has asked your help in analyzing the operations of three anonymous companies…
A: Return on investment (ROI) is a financial ratio used to calculate the benefit an investor will…
Q: Warwick, Inc. has two divisions as shown in the segmented income statement below. Segmented Income…
A: Financial statements are prepared in order to review and analyse profitability and financial…
Q: Year Sales 1 270 Growth versus Prior Year 12.5% EBIT (10% of Sales) 27.00 Less: Income Tax (20%)…
A: The present value of the free cash flows will give us the enterprise value. We can find the stock…
Q: Caitlin, Chris, and Molly are partners and share income and losses in a 3:4:3 ratio (in ratio form:…
A: Partnership refers to an agreement where two or more people come together for a common goal. The…
Q: Nile Corp. has identified three cost pools to allocate overhead costs. The following estimates are…
A: Activity-based costing is a method of costing that identifies activities in business that incurs…
Q: Sunland Corporation manufactures a single product. The standard cost per unit of product is shown…
A: Materials Variances: Total materials variance=Standard price×Standard quantity for actual…
Q: Tamarisk Ltd issued a $1,094,000, 10-year bond dated January 1, 2023. The bond was sold to yield 12%…
A: A firm or group may issue bonds payable as a form of long-term debt to raise capital from investors.…
Q: Sanders Inc. has applied $567,988 of factory overhead to jobs. Actual factory overhead at the end of…
A: Overhead rates are determined based on the budgeted direct labor hours. Overhead costs means the…
Q: On January 1, 2025, ABC Corp. issued 10-year, $100,000 bonds at par. The bonds make payments…
A: Bonds are a popular investment option for investors seeking a fixed income stream and a lower level…
Q: Fabrick Company's quality cost report is to be based on the following data: Lost sales due to poor…
A: Appraisal costs typically include activities such as product inspections, quality control checks,…
Q: 21 Based on the following information from ABC Company's financial analysis, which one of the…
A: Ratio analysis is quantitive method of getting inside review of an organisation. It helps in…
Q: On January 1, 2022, Davison Corp. issues $500,000 of 9% 15-year bonds that pay interest year. Bonds…
A: Issue price of bonds would be present value of interest annuity & maturity amount at market rate…
Q: You are told that a note has repayment terms of $900 per quarter for 6 years, with a stated interest…
A: The principal value of a loan is the amount that is the basis for the interest computation whether…
Q: Assuming situation (a), prepare the employer's September 30 journal entry to record salary expense…
A: This question asks you to prepare a journal entry for BMX Company to record its salary expense and…
Q: Green Acres Company has elected to use the dollar-value LIFO retail method to value its inventory.…
A: This question involves the application of the dollar-value LIFO retail method to estimate the cost…
Q: Perit Industries has $125,000 to invest. The company is trying to decide between two alternative…
A: Net present value is a capital budgeting method that determines the present value of the cash flows…
Q: Question Content Area Entries for sale of fixed asset Equipment acquired on January 8 at a cost of…
A: Property, plant, and equipment (PP&E) are tangible, long-lasting assets that help a business…
Q: Marigold Company produces small gasoline-powered engines for model airplanes. Mr. Robinson,…
A: The total manufacturing costs comprise direct costs and applied overhead costs. Cost of goods…
Q: Snowden Industries produces two electronic decoders, P and Q. Decoder P is more sophisticated and…
A: The pre-determined overhead rate is calculated as estimated overhead cost divided by estimated base…
Q: Bentz Co. has two divisions, A and B. Invested assets and condensed income stat Division A Division…
A: In this question, we will calculate the income statement for Division A and Division B then compute…
Q: Classifying Costs The following report was prepared for evaluating the performance of the plant…
A: MANUFACTURING COST Total manufacturing cost is the combination of direct material cost, direct labor…
Q: Lance Lawn Services reports warranty expense by estimating the amount that eventually will be paid…
A: As per IAS 12 Income taxes, Deferred tax assets are amounts of income taxes which are recoverable…
Q: Cullumber Corp, is considering purchasing one of two new diagnostic machines. Either machine would…
A: Capital budgeting involves making decisions about long-term investments that have significant…
Q: A family friend has asked your help in analyzing the operations of three anonymous companies…
A: ROI = Net income / Average operating assets Residual income = Net income - Minimum required return *…
Q: Problem 10-6 Bond value [LO10-3] Kilgore Natural Gas has a $1,000 par value bond outstanding that…
A: A bond refers to an instrument used by companies to raise debt capital from investors. It is…
Q: I need to have $440,000 in five years in order to retire. I can buy bonds that will pay a 8.8%…
A: FV = A * (1+r)n where , FV = future value A = amount of investment today r = interest rate n = time…
Q: Blue Spruce Corp. is considering purchasing one of two new diagnostic machines. Either machine would…
A: Capital budgeting involves making decisions about long-term investments that have significant…
Q: On January 1, 2025, Culver Corporation had $1,310,000 of common stock outstanding that was issued at…
A: The stock dividend is declared to the shareholders from the retained earnings of the business. The…
Q: Problem 3-16 Income Statement (LO3) Sheryl's Shipping had sales last year of $15,000. The cost of…
A: Given, Sales last year = $ 15,000 cost of goods sold = $ 7,500 General and administrative…
Q: If money earns 8.10% compounded quarterly, what single payment in three years would be equivalent to…
A: More is the compounding of interest than more is the effective rate and interest and more is the…
Q: The following data are available pertaining to Household Appliance Company's retiree health care…
A: As per the Honor code of Bartleby we are bound to give the answer of first three sub part only,…
Q: Un Company sold office equipment with a cost of $35,120 and accumulated depreciation of $30,783 for…
A: Depreciation is a non-cash expense.Depreciation is charged on fixed asset over a estimated useful…
Q: Exercise C-7 (Algo) Calculate the present value of a single amount (LO C-3) You have entered into an…
A: Time value of money is a concept where interest is charged for the time period money used. This…
Q: Anderson, Moore, and Bell have capital balances of $20,000, $30,000, and $50,000, respectively. The…
A: Partnership refers to an agreement where two or more people come together for a common goal. The…
Q: Specialty Candles has provided the following details: Mar. 7 Inventory purchased on account Mar. 8…
A: Based on the given information, let's calculate the payment made to the vendor for the purchases on…
Q: Darla purchased a new car during a special sales promotion by the manufacturer. She secured a loan…
A: Interest paid refers to an amount that is being paid by the borrower to the lender against of…
Subject - account
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Can you complete the requirements listed below to this question please? Requirement 1 --- prepare a contribution income statement in good form --- include/list all individual VC and FC Requirement 2 --- calculate all requested values a thru d REQUIRED: Calculations required for Requirement 2 values a thru d.DengarQUESTION 2 Dream Pond & Dam is a registered VAT (value added tax at 15%) vendor that specialises in exotic Koi fish, feeds and health products for fish- and fish ponds. You are provided with some information that relates to the part-time business partners, Dillan and Damian for the financial year end at 30 September 2020. Balances on 30 September 2020: Debit Credit Land & buildings Capital: Dillan Capital: Damian Trade & other receivables Trade & other payables Current account: Dillan Current account: Damian Drawings: Dillan Drawings: Damian Bank Profit & loss (Net profit) 550 800 208 330 291 660 25 870 18 530 7 500 12 290 43 920 37 000 15 450 752 125 Additional information: 1. The partnership's agreement of Dream Pond & Dam stipulates the following: • Partners will share profits in the ratio 1:2. • Although the Covid19 pandemic influenced the business profits, the partners will sustain their original 10% per annum interest on capital. Each partner is entitled to a salary of R125 000…
- ducation.com/ext/map/indesIn apps76252Fportal. S A Course in Miracles A New Earth MyNeopost A ACTIVE | University.- E https://securetimes. Guide to forecastin.. Assume Inventory d. work i Saved Help Save Required information [The following information applies to the questions displayed below.] Lewis and Laurie are married and jointly own a home valued at $248.000. They recently paid off the mortgage on their home. The couple borrowed money from the local credit union in January of 2019. How much interest may the couple deduct in each of the following alternative situations? (Assume they itemize deductions no matter the amount of interest) (Leave no answer blank. Enter zero if applicable.) b. The couple borrows $126,000. and the loan is secured by their home. The credit union calls the loan a "home equity loan." Lewis and Laurie use the loan proceeds to add a room to their home. The couple pays $5.600 interest on the loan during the year, and the couple files a joint return. Deductible…Hi I need help, it says my answer is wrong but I read over and over and over. Please helpParagraph Styles keep using Word without interruption, activate before Monday, 17 May 2021. Activate Expressive Youths is a non-profit youth club in the Corporate Area that engages its members in the buying and selling of paintings that are sold to public to provide income for the club. For the financial year ending December 31, 2020 the clerical officer of the club provided the following information in relation to the club's activities: Payments Electricity Purchase of television Purchase of paintings Refreshments, etc. Stipend for clerk Stationery 2$ 120,000 subscription 60,000 Sale of paintings 320,000 Refreshment, etc. sale Receipts 300,000 800,000 600,000 280,000 Donations 250,000 200,000 96,000 Other activities 50,000 I. Additional Information: () On January 1, 2020 the club had paintings valued at $350,000., while subscription in arrears at that date was $15,000 On December 31, 2020 the club owed $25,000 for electricity, while $10,000 was paid for stationery that was to be…
- ing and learning resource from Cengage Leaming - Google Chrome takeAssignment/takeAssignmentMain.do?invoker=&ttakeAssignmentSessionLocator=8inprogress%3false еВook Organization Costs S&W Plumbing decided to incorporate and has incurred the following costs of organizing: Incorporation fees $ 400 Attorneys' fees 4,200 Promotion expenses 5,300 Prepare the entry for the payment of these organization costs for cash on January 31. Page: DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- 1 Jan. 31 1 3 3 hpYou were asked to make a presentation to a group of CSEC students on some areas related to non-profit making organisations. The specific areas are: i difference between accounts for non-profit and for-profit organisations 11. examples of non-profit organisations in your country 111. an explanation of the use of a subscription account iv. preparing a subscription account from given data For your presentation, research (i), (ii), (iii) and use the data below to complete (iv). A drama club charges its members an annual subscription of $40 per member. It accrues for subscriptions owing at the end of each year and also adjusts for subscriptions received in advance. i. ii. 111. On January 1, 2022, 36 members owed $720 for the 2021 year In December 2021, 8 members paid $160 for the year 2022 During the year 2022 the club received cash for subscriptions $$14,840 $720 $13840 $280 iv. At the end of December 31, 2022, 11 members had not paid their 2022 subscriptions. For 2021 For 2022 For 2023Sir please help me sir
- What would be the short-term and long-term recommendations for the Appaloosa County Day Care Center facility?Community Assist for Refugees (CAR) is a not-for-profit organization that assistsrefugees with various services including language and cultural training, transportation,a food bank, and translation services. Some selected transactions for CAR arepresented below.a.CAR received a $20,000 cheque from a local radio station. The letter that came withthe donation says that it can be used by CAR on whatever needs are most urgent.b.CAR received a $25,000 donation from the Literacy Fund for a new homeworkambiance piglet the project serpested o star /in a ew moning,.(C.CAR received a $55,000 endowment contribution from Dr. Koe for a scholarshipd. CAR received a donation of 50 student desks for its homework assistance projectfrom City Office Supplies Ltd. The student desks are valued at $40,000 and areexpected to last 10 years. e. The city donated a tract of land,valued at $50,000 to CAR which plans to raise funds to constract a new center on the land. f.Assume that the homework as istance…onation received for specific purpose is: a. Credited to income and expenditure account b. Shown on liabilities side of Balance sheet as Donation Fund c. Debited to income and expenditure account d. Shown as asset side of Balance sheet as Donation Fund Question 14 Question text Which among the following is not an enterprise fund in a school district? a. Athletic stadium that sell tickets to events b. Bookstores c. Public parking spaces d. Cafeteria Question 15 Question text Rule by people is referred to as: a. Republic b. Oligarchy c. Democracy d. Monarchy