Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Gift Shop UBIT. A local exempt organization that trains at-risk youth for employment has an annual operating budget of $300,000, which includes revenue from operating a gift shop in a nearby hotel lobby. Gift shop sales result in a profit of $15,000. The organization has $6,500 of endowment income that it earns on permanently restricted net assets. The income from both the gift shop and the endowment is used to support the organization's exempt purpose. The balance of $278,500 required for annual operations is provided through public support and charges for services. Required a. Calculate the UBIT if the corporate tax rate is 15 percent on the first $50,000 of net income and 25 percent on the next $25,000 of income. b. Assume that the endowment income is reinvested rather than being used to support annual operations. Calculate the amount of unrelated business income.
on august 1 stuart co. issued 1300000 of 20-year 9 bonds dated august 1 for 1225000.nbspnbspinterest is payable
A us company's foreign subsidiary has as its functional currency the local currency. year- end financial statements are being consolidated. the average rate would be used for which account of the foreign entity?
the balance sheet contains the major sections a-k listed below. a listing of balance sheet accounts follows.a.current
for a recent 2-year period the balance sheet of metal pro company showed the following stockholders equity data at
Indicate the effect on the amount realized.
what story or character in a story generated what aristotle calls a catharsis? describe your emotional response. what
a. Prepare an amortization schedule for the three-year period. b. Organize the information in accounts under an accounting equation.
The annual interest rate on the mortgage payable was 7.75 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred on June 16. What should the correct adjusting entry b..
Disclosure usually is not required for: A) contingent gains that are probable and can be reasonably estimated. B) contingent losses that are reasonable possible and cannot be reasonably estimated.
A company has a standard cost system in which fixed and variable manufacturing overhead costs are applied to products on the basis of direct labor-hours. The company's choice of the denominator level of activity affects the fixed portion of the pr..
A company, using the periodic inventory system, has merchandise inhventory costing $175 on hand at the beginning of the period. During the period, merchandise costing $635 is purchased. At year-end, merchandise inventory costing $160 is on hand. T..
In 2007, Peggy, a widow, places $3 million in trust, life estate to her children, reminder to her grandchildren, but retains the right to revoke the trust. In 2010, when the trust is worth $3.1 million, Peggy rescinds her right to revoke the trust..
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd