Identify the four categories of not-for-profit organizations and identify the types of entities are included in each category.

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Answer 1

Question

Chapter 13, Problem 1Q

To determine

Identify the four categories of not-for-profit organizations and identify the types of entities are included in each category.

Expert Solution & Answer

Explanation of Solution

Not-for-profit (NFP) entities: It is an individual or group of people who work together to attain the goals and mission that is something other than making profit for its shareholders or owners. Not-for-profit entities’ success is measured by how much the entity serves to the well-being of public or poor people with the available resource of the entity.

The following are the four categories of not-for-profit entities:

Voluntary health and welfare organizations (VHWOs): These types of organizations obtain a huge amount of their incomes through non-exchange transactions. They are operating to provide welfare or health service at low cost or at free of cost. The following are some type of entities in VHWOs:
- Country A Diabetes Association.
- Country A Cancer Society.
- Country A Heart association.
College and universities: It is a self-explanatory category and these kinds of organizations provide education service to the students at low or free of cost. The state or federal support organizations or private education trusts are examples of college and university not-for-profit entities.
Health care entities: It includes those who offer health care service and entities whose’ primary activity is related to oversight or organize the operations of health care entities. The following are the examples of health care entities:
- Clinics.
- Hospitals.
- Home health care organizations.
- Rehabilitation facilities.
- Continuing care retirement communities.
- Laboratories.
Other nonprofit organizations (ONPOs): It is the organization running for non-profit motive other than the ones listed above. The following are the examples:
- Libraries.
- Religious organizations.
- Museums.
- Professional associations.

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Selected information taken from the financial statements of Verbeke Co. for the year ended December 31, 2019, follows: Gross profit General and administrative expenses $ 4,13,000 83,000 Net cash used by investing activities 1,05,000 Dividends paid 55,000 Interest expense 60,000 Net sales 7,40,000 Advertising expense 75,000 Accounts payable 1,03,000 Income tax expense 84,000 Other selling expenses 43,000 a. Calculate income from operations (operating income) for the year ended December 31, 2019. b. Calculate net income for the year ended December 31, 2019.

In response to complaints about high prices, a grocery chain runs the following advertising campaign: "If you pay your child $3 to go buy $100 worth of groceries, then your child makes twice as much on the trip as we do." You've collected the following information from the grocery chain's financial statements: (millions) Sales $700 Net income $10.5 Total assets $380 Total debt $250 1. What is the profit margin for children as a percentage of what they spend and the profit margin for the store? 2. What is the store's ROE?

Answer 2

Question

Chapter 13, Problem 1Q

To determine

Identify the four categories of not-for-profit organizations and identify the types of entities are included in each category.

Expert Solution & Answer

Explanation of Solution

Not-for-profit (NFP) entities: It is an individual or group of people who work together to attain the goals and mission that is something other than making profit for its shareholders or owners. Not-for-profit entities’ success is measured by how much the entity serves to the well-being of public or poor people with the available resource of the entity.

The following are the four categories of not-for-profit entities:

Voluntary health and welfare organizations (VHWOs): These types of organizations obtain a huge amount of their incomes through non-exchange transactions. They are operating to provide welfare or health service at low cost or at free of cost. The following are some type of entities in VHWOs:
- Country A Diabetes Association.
- Country A Cancer Society.
- Country A Heart association.
College and universities: It is a self-explanatory category and these kinds of organizations provide education service to the students at low or free of cost. The state or federal support organizations or private education trusts are examples of college and university not-for-profit entities.
Health care entities: It includes those who offer health care service and entities whose’ primary activity is related to oversight or organize the operations of health care entities. The following are the examples of health care entities:
- Clinics.
- Hospitals.
- Home health care organizations.
- Rehabilitation facilities.
- Continuing care retirement communities.
- Laboratories.
Other nonprofit organizations (ONPOs): It is the organization running for non-profit motive other than the ones listed above. The following are the examples:
- Libraries.
- Religious organizations.
- Museums.
- Professional associations.

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Answer 3

Question

Chapter 13, Problem 1Q

To determine

Identify the four categories of not-for-profit organizations and identify the types of entities are included in each category.

Expert Solution & Answer

Explanation of Solution

Not-for-profit (NFP) entities: It is an individual or group of people who work together to attain the goals and mission that is something other than making profit for its shareholders or owners. Not-for-profit entities’ success is measured by how much the entity serves to the well-being of public or poor people with the available resource of the entity.

The following are the four categories of not-for-profit entities:

Voluntary health and welfare organizations (VHWOs): These types of organizations obtain a huge amount of their incomes through non-exchange transactions. They are operating to provide welfare or health service at low cost or at free of cost. The following are some type of entities in VHWOs:
- Country A Diabetes Association.
- Country A Cancer Society.
- Country A Heart association.
College and universities: It is a self-explanatory category and these kinds of organizations provide education service to the students at low or free of cost. The state or federal support organizations or private education trusts are examples of college and university not-for-profit entities.
Health care entities: It includes those who offer health care service and entities whose’ primary activity is related to oversight or organize the operations of health care entities. The following are the examples of health care entities:
- Clinics.
- Hospitals.
- Home health care organizations.
- Rehabilitation facilities.
- Continuing care retirement communities.
- Laboratories.
Other nonprofit organizations (ONPOs): It is the organization running for non-profit motive other than the ones listed above. The following are the examples:
- Libraries.
- Religious organizations.
- Museums.
- Professional associations.

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Answer 4

Question

Chapter 13, Problem 1Q

To determine

Identify the four categories of not-for-profit organizations and identify the types of entities are included in each category.

Expert Solution & Answer

Explanation of Solution

Not-for-profit (NFP) entities: It is an individual or group of people who work together to attain the goals and mission that is something other than making profit for its shareholders or owners. Not-for-profit entities’ success is measured by how much the entity serves to the well-being of public or poor people with the available resource of the entity.

The following are the four categories of not-for-profit entities:

Voluntary health and welfare organizations (VHWOs): These types of organizations obtain a huge amount of their incomes through non-exchange transactions. They are operating to provide welfare or health service at low cost or at free of cost. The following are some type of entities in VHWOs:
- Country A Diabetes Association.
- Country A Cancer Society.
- Country A Heart association.
College and universities: It is a self-explanatory category and these kinds of organizations provide education service to the students at low or free of cost. The state or federal support organizations or private education trusts are examples of college and university not-for-profit entities.
Health care entities: It includes those who offer health care service and entities whose’ primary activity is related to oversight or organize the operations of health care entities. The following are the examples of health care entities:
- Clinics.
- Hospitals.
- Home health care organizations.
- Rehabilitation facilities.
- Continuing care retirement communities.
- Laboratories.
Other nonprofit organizations (ONPOs): It is the organization running for non-profit motive other than the ones listed above. The following are the examples:
- Libraries.
- Religious organizations.
- Museums.
- Professional associations.

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Answer 5

Chapter 13, Problem 1Q

To determine

Identify the four categories of not-for-profit organizations and identify the types of entities are included in each category.

Expert Solution & Answer

Explanation of Solution

Not-for-profit (NFP) entities: It is an individual or group of people who work together to attain the goals and mission that is something other than making profit for its shareholders or owners. Not-for-profit entities’ success is measured by how much the entity serves to the well-being of public or poor people with the available resource of the entity.

The following are the four categories of not-for-profit entities:

Voluntary health and welfare organizations (VHWOs): These types of organizations obtain a huge amount of their incomes through non-exchange transactions. They are operating to provide welfare or health service at low cost or at free of cost. The following are some type of entities in VHWOs:
- Country A Diabetes Association.
- Country A Cancer Society.
- Country A Heart association.
College and universities: It is a self-explanatory category and these kinds of organizations provide education service to the students at low or free of cost. The state or federal support organizations or private education trusts are examples of college and university not-for-profit entities.
Health care entities: It includes those who offer health care service and entities whose’ primary activity is related to oversight or organize the operations of health care entities. The following are the examples of health care entities:
- Clinics.
- Hospitals.
- Home health care organizations.
- Rehabilitation facilities.
- Continuing care retirement communities.
- Laboratories.
Other nonprofit organizations (ONPOs): It is the organization running for non-profit motive other than the ones listed above. The following are the examples:
- Libraries.
- Religious organizations.
- Museums.
- Professional associations.

Answer 6

Chapter 13, Problem 1Q

To determine

Identify the four categories of not-for-profit organizations and identify the types of entities are included in each category.

Expert Solution & Answer

Explanation of Solution

Not-for-profit (NFP) entities: It is an individual or group of people who work together to attain the goals and mission that is something other than making profit for its shareholders or owners. Not-for-profit entities’ success is measured by how much the entity serves to the well-being of public or poor people with the available resource of the entity.

The following are the four categories of not-for-profit entities:

Voluntary health and welfare organizations (VHWOs): These types of organizations obtain a huge amount of their incomes through non-exchange transactions. They are operating to provide welfare or health service at low cost or at free of cost. The following are some type of entities in VHWOs:
- Country A Diabetes Association.
- Country A Cancer Society.
- Country A Heart association.
College and universities: It is a self-explanatory category and these kinds of organizations provide education service to the students at low or free of cost. The state or federal support organizations or private education trusts are examples of college and university not-for-profit entities.
Health care entities: It includes those who offer health care service and entities whose’ primary activity is related to oversight or organize the operations of health care entities. The following are the examples of health care entities:
- Clinics.
- Hospitals.
- Home health care organizations.
- Rehabilitation facilities.
- Continuing care retirement communities.
- Laboratories.
Other nonprofit organizations (ONPOs): It is the organization running for non-profit motive other than the ones listed above. The following are the examples:
- Libraries.
- Religious organizations.
- Museums.
- Professional associations.

Answer 7

Chapter 13, Problem 1Q

To determine

Identify the four categories of not-for-profit organizations and identify the types of entities are included in each category.

Answer 8

Expert Solution & Answer

Explanation of Solution

Not-for-profit (NFP) entities: It is an individual or group of people who work together to attain the goals and mission that is something other than making profit for its shareholders or owners. Not-for-profit entities’ success is measured by how much the entity serves to the well-being of public or poor people with the available resource of the entity.

The following are the four categories of not-for-profit entities:

Voluntary health and welfare organizations (VHWOs): These types of organizations obtain a huge amount of their incomes through non-exchange transactions. They are operating to provide welfare or health service at low cost or at free of cost. The following are some type of entities in VHWOs:
- Country A Diabetes Association.
- Country A Cancer Society.
- Country A Heart association.
College and universities: It is a self-explanatory category and these kinds of organizations provide education service to the students at low or free of cost. The state or federal support organizations or private education trusts are examples of college and university not-for-profit entities.
Health care entities: It includes those who offer health care service and entities whose’ primary activity is related to oversight or organize the operations of health care entities. The following are the examples of health care entities:
- Clinics.
- Hospitals.
- Home health care organizations.
- Rehabilitation facilities.
- Continuing care retirement communities.
- Laboratories.
Other nonprofit organizations (ONPOs): It is the organization running for non-profit motive other than the ones listed above. The following are the examples:
- Libraries.
- Religious organizations.
- Museums.
- Professional associations.