Calculate Upward and Onward UBIT

Assignment Help Accounting Basics
Reference no: EM132650349

Problem - Upward and Onward, Inc., a § 501(c)(3) organization that provides training programs for government assistance recipients, reports the following income and expenses from the sale of products associated with the training program. Calculate Upward and Onward's UBIT.

Gross income from sales $425,000

Cost of goods sold 106,000

Advertising and selling expenses 26,000

Administrative expenses 112,500

a. Assume that the sale of the training program products is substantially related to Upward and Onward's exempt purpose.

b. Assume that the sale of the training program products is not substantially related to Upward and Onward's exempt purpose.

Reference no: EM132650349

Questions Cloud

Discuss the implications of contractual obligation on victim : Discuss the implications of contractual obligation on victims of malpractice. Is this overreaching my physicians or a prudent way to minimize frivolous lawsuits
Software development is complex task : Software development is a complex task, especially as technology changes at the speed of light, environments evolve, and more expectations are placed
Why was net neutrality repealed : What have the actual consequences been for those of us living in the US? What did experts predict would be the consequences of repealing this legislation?
Final velocity before stopping : If its acceleration during motion is 0.8m/s2, and it was initially at rest (initially wasn't moving), how far did the soccer ball move horizontally?
Calculate Upward and Onward UBIT : Assume that the sale of the training program products is substantially related to Upward and Onward's exempt purpose. Calculate Upward and Onward UBIT
Identify in experiment the variables : Design an experiment to investigate a new brand of puppy dog food to see if it really promotes more growth in young puppies in the first 3 month of their life.
Find and preparing statement of cash flows : Preparing Statement of Cash Flows. Boscia Corporation's balance sheet appears below: Comparative Balance Sheet.Cash and cash equivalents
Focus on concept of the balanced scorecard : We focus on the concept of the balanced scorecard. Please note what it is and how organizations use balanced scorecards.
Air before heading back to the ground : a. How long does it take to reach its maximum height in the air before heading back to the ground?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Code of ethics for managerial accounting

1. The code of ethics for managerial accounting presents four standards of ethical conduct.What are these?

  What is the driver for the overhead activity

Abrams Company manufactures miniature speakers that are built into the headrests of high-end lounge chairs. What is the driver for the overhead activity

  Distinguish between the different costing methods

Explain to Mr. Skaros why his production cost report showed only 2,000 equivalent units in ending inventory. Using a professional tone, explain to him clearly

  Tranquility funeral home inc your client is an accrual

tranquility funeral home inc your client is an accrual basis taxpayer that sells preneed funeral contracts. under these

  Prepare a single-step income statement

Prepare a single-step income statement. (Enter the account names exactly as shown in the information provided. Check your spelling carefully)

  A lawyer collected 710 of legal fees in advance he

a lawyer collected 710 of legal fees in advance. he erroneously debited cash for 170 and credited accounts receivable

  Compute warren actual return on plan assets

For Warren Corporation, year-end plan assets were $2,144,800. Compute Warren's actual return on plan assets

  Abbe company reported the following financial numbers for

abbe company reported the following financial numbers for one of its divisions for the year average total assets of

  Fillip corporation makes 4400 units of part u13 each year

fillip corporation makes 4400 units of part u13 each year. this part is used in one of the companys products. the

  Explain the types of direct and overhead variances

Additionally, explain the types of direct and overhead variances each of your selected organizations might encounter. Provide an example of each.

  Centers for disease control and prevention

According to the U.S. Centers for Disease Control and Prevention, Americans 85 years of age and older experience flu-associated respiratory and circulatory illness at an annual rate of approximately 1200 cases per 100,000 persons.

  If you were a small business owner would you implement an

if you were a small business owner would you implement an activity-based costing system. what potential benefits or

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