Reference no: EM13785759
Onward, Inc., is an exempt organization that assists disabled individuals by training them in digital TV repair. Used digital TVs are donated to Onward, Inc., by both organizations and individuals. Some of the donated digital TVs are operational, but others are not. After being used in the training program, the digital TVs, all of which are now operational, are sold to the general public. Onward's revenues and expenses for the current period are as follows.
Contributions $ 700,000
Revenues from digital TV sales 3,600,000
Administrative expenses 500,000
Materials and supplies for digital TV repairs 800,000
Utilities 25,000
Wages paid to disabled individuals in the training program (at minimum-wage rate) 1,200,000
Rent for building and equipment 250,000
Any revenues not expended during the current period are deposited in a reserve fund to finance future activities.
a. Is the digital TV repair and sales activity an unrelated trade or business? Explain.
b. Calculate the net income of Onward, Inc., and the related Federal income tax liability, if any.
|
What are the implications of balance of payments
: What is balance of payments - what are the implications of Balance of payments on flexible exchange rate regimes?
|
|
Report on diagnosing organizational systems
: Diagnosing Organizational Systems.
|
|
About our social interaction-communication and social bonds
: The technological advances have improved our quality of life and created some concerns too. The sociological significance of technology is that it sets the framework for the nonmaterial culture.
|
|
Briefly describe five specific areas where it represent risk
: The relationship between IT and a company's competitive advantage or strategy. Identify and briefly describe five specific areas where IT represents a risk to a company's competitive advantage.
|
|
Calculate the net income of onward
: Calculate the net income of Onward, Inc., and the related Federal income tax liability, if any.
|
|
Calculate the percentage changes in the outputs
: Calculate the percentage changes in the endowments - calculate the percentage changes in the outputs and show graphically a new production possibilities frontier.
|
|
Liquidating distribution under the economic effect test
: If the partnership distributes $30,000 cash to Lauren on June 30 of the current year, how much cash is distributed to each partner in the liquidating distribution under the economic effect test?
|
|
Idea of a permanent marriage is a realistic option
: Historian Eric Sager, commenting on the growing ranks of singles, points out, "It is often said that divorce today performs the function that death did in the past. The promise to live together for better or worse, so long as you both shall live, ..
|
|
Discuss what security policies commerce should implement
: For Reflective Article Paper 3, select an article that details current methods that are used to successfully prevent identity theft. Discuss what security policies commerce should implement to prevent it from happening.
|