Calculate the amount of kind unrelated business income

Assignment Help Accounting Basics
Reference no: EM132436501

Question - Kind, Inc., an exempt organization, leases land, a building, and factory equipment to Shirts, Inc. Shirts is a taxable entity that manufactures shirts for distribution through its factory outlet stores. The rent income and the related expenses for Kind are as follows:

 

Rent Income

Rent Expenses

Land and building

$100,000

$40,000

Factory equipment

125,000

25,000

Calculate the amount of Kind's unrelated business income?

Reference no: EM132436501

Questions Cloud

What is the tax on her taxable income : The net long-term capital gain is made up of $1,000 25% gain and $2,000 0%/15%/20% gain. What is the tax on her taxable income
What is the amount and character of Alpha gain : Alpha bought the machinery a few years ago for $49,750 and has claimed $30,250 of depreciation expense. What is the amount and character of Alpha's gain
Write a short paper on Citizen Kane : Write a short paper on Citizen Kane, Casablanca, Double Indemnity, or The Best Years of Our Lives. edited enhances the sequence's impact and meaning.
What are the auditor responsibilities during an audit : What are the auditor's responsibility as it specifically relates to finding and uncovering fraud? What are the auditor responsibilities during an audit
Calculate the amount of kind unrelated business income : Kind, Inc., an exempt organization, leases land, a building, and factory equipment to Shirts, Inc. Calculate the amount of Kind unrelated business income
Why are game companies so afraid of the politics in games : Colin Campbell,Why are Game Companies so Afraid of the Politics in Games?Edwin Evans-Thirlwell, "If Ubisoft Wants to Cling on to Clancy,It Time to Talk Politics
What are the body fluid compartments : What are the body fluid compartments and the approximate percentages of body weight of each?
Explain the Sabbath laws : Write an essay and explain Sabbath laws in particular, and the rabbinic legal system in general.The Talmud, the body of Jewish ceremonial law and legend
Create a memo for the sales meeting : Create a new blank document and Create a memo for the sales meeting - Create column chart based on cells A4 through D7 that looks similar

Reviews

Write a Review

Accounting Basics Questions & Answers

  You are a management analyst for xyz aircraft manufacturing

you are a management analyst for xyz aircraft manufacturing company. your company is considering either to use

  Learned about the time value of money to analyze

Assume that your grandmother wants to give you generous gift. She wants you to choose which one of the following sets of cash flows you would like to receive:

  What is the ending inventory balance for julia company

The following information pertains to Julia & Company: March 9 Sold 25 units @ $8. What is the ending inventory balance for Julia & Company

  Multiple regression model for the variables

Ticket prices, part 2. Here's a multiple regression model for the variables considered in Exercise 12:7 Dependent variable is: Receipts($M)

  How much is the total manufacturing cost per unit

Total materials costs equal $60,000. Equivalent units for materials are 12,000. How much is the total manufacturing cost per unit

  Calculating direct materials price variance

a. Calculate the direct materials price variance for May. b. Calculate the direct materials quantity variance for May. c. Calculate the direct labor wage rate variance for May. d. Calculate the direct labor efficiency variance for May.

  Prepare a cost of goods sold budget for lifetyme publishers

what are the total assets and net income for this problem?prepare a cost of goods sold budget for lifetyme publishers

  What presumptions can be made about the following

The third generally accepted standard of audit fieldwork requires that auditors obtain sufficient, competent audit evidence to afford a reasonable basis for an opinion regarding the financial statements under examination.

  Why is airline profitability very sensitive to these cycles

Why is airline profitability very sensitive to these cycles? Do you think that during a down cycle the strategy to consolidate routes and raise ticket prices is reasonable? What would make this strategy succeed or fail? Why?

  Prepare all of jolley journal entries

Prepare all of Jolley's journal entries for 2018 in relation to Tige Co. Assume the equity method is appropriate for use

  Evaluating investment decisions

Businesses commonly use methods such as Net Present Value (NPV) and Internal Rate of Return (IRR) for evaluating investment decisions. Compare and contrast these two methods describing their relative strengths and weaknesses.

  Compute the adjusted balance of cash per bank statement

On December 31, Lee Company's bank statement had a balance of $31,930. Compute the adjusted balance of Cash per bank statement

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd