Fish, Inc., an exempt organization, reports unrelated business income of $500,000 (before any charitable contribution deduction). During the year, Fish makes charitable contributions of $54,000, of which $38,000 are associated with the unrelated trade or business. a. Fish's unrelated business taxable income (UBTI) is $ b. Express your computation in part (a) as a Microsoft Excel formula. DEDUCT=UBI_BEFORE-1000-MIN(CHAR,(UBI_BEFORE*.1)) c. Assume instead that the charitable contributions are $41,000, of which $38,000 are associated with the unrelated trade or business. The UBTI is $
Fish, Inc., an exempt organization, reports unrelated business income of $500,000 (before any charitable contribution deduction). During the year, Fish makes charitable contributions of $54,000, of which $38,000 are associated with the unrelated trade or business. a. Fish's unrelated business taxable income (UBTI) is $ b. Express your computation in part (a) as a Microsoft Excel formula. DEDUCT=UBI_BEFORE-1000-MIN(CHAR,(UBI_BEFORE*.1)) c. Assume instead that the charitable contributions are $41,000, of which $38,000 are associated with the unrelated trade or business. The UBTI is $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Fish, Inc., an exempt organization, reports unrelated business income of $500,000 (before any charitable contribution deduction). During the year, Fish makes charitable contributions of $54,000, of which $38,000 are associated with the unrelated trade or business.
a. Fish's unrelated business taxable income (UBTI) is $
b. Express your computation in part (a) as a Microsoft Excel formula.
DEDUCT=UBI_BEFORE-1000-MIN(CHAR,(UBI_BEFORE*.1))
c. Assume instead that the charitable contributions are $41,000, of which $38,000 are associated with the unrelated trade or business. The UBTI is $
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