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Virty [35]
2 years ago
13

A donor gave equipment valued at $90,000 at the beginning of 2020 to a private not-for-profit organization. The equipment had a

10-year life and depreciation of $9,000 was charged during 2020. At the end of the year, the net assets to be reported in unrestricted net assets related to this equipment would be:
Business
1 answer:
Slav-nsk [51]2 years ago
5 0

The net asset would be $81,000 or $0 depending upon the policy of the Non-Profit Organization.

<h3><u>What is a Non-Profit Organization?</u></h3>
  • A non-profit organization is a group that was established with the intention of making a profit, and in which no part of the organization's revenue is given to its directors, officials, or members.
  • "Non-stock corporations" are a common moniker for nonprofit organizations.
  • They may be organized as a corporation, a sole proprietorship, an unincorporated association, a partnership, a foundation, a condominium, or another type of individual enterprise (for instance, individual charitable contributions) (joint ownership of common areas by owners of adjacent individual units incorporated under state condominium acts).
  • When they are established, nonprofit organizations must declare themselves to be so and are only allowed to work on projects that fall under their legal definition.

The value of the equipment given by the donor = $90,000

The charge of depreciation = $9,000.

The total assets of a business less the total liabilities equals the entity's net assets. The sum of a company's net assets equals its stockholders' equity in whole. Net assets are divided into unrestricted and restricted net assets of a nonprofit organization.

The net asset would be either $81,000 or $0.

Know more about Non-Profit Organization with the help of the given link:

brainly.com/question/21307064

#SPJ4

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Starbucks has hired you to make a systematic inventory of its competitive capabilities. To do so, you would conduct an assessmen
dybincka [34]

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To make a systematic inventory of Starbucks's competitive capabilities. you would conduct an assessment of Starbucks' <u>competitive set via a strategy matrix</u>

Explanation:

Making a systematic inventory of a company's competitive capabilities will help to identify growth opportunities.

A well developed competitive determines what your business will become, measures its share performance,  influence what products you developed, which consumers you targeted, where you sold the products and how you advertised and promoted them

So the first step is to list and access them to see it is strong enough to help your brand perform optimally.

This decision will drive where Starbucks focuses their attention

The Strategy Matrix is a tool that provides easy access to the solutions applied in the competitive set.

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4 0
3 years ago
A roofing company collects fees when jobs are complete. The work for one customer, whose job was bid at $3,900, has been complet
3241004551 [841]

Answer:

Debit Accounts Receivable, $3,900;

Credit Roofing Fees Revenue, $3,900

Explanation:

Here, no cash transaction was involved. Since the job has been completed but  the customer has not been billed yet, this simply means it has to be debited with accounts receivable, which is recognised as current asset and recognised as revenue for the period, hence needs to be credited.

This means that accounts receivable has to be debited with the amount of $3,900 while roofing fees revenue has to be credited with the amount of $3,900

Considering the above, the adjusting entry the company would need to make on December 31, the calendar year-end would be:

Debit Accounts Receivable, $3,900;

Credit Roofing Fees Revenue, $3.900

3 0
3 years ago
every organization has a set of unwritten norms that mambers of the organization accept and understand and which guide their act
lesya [120]

Answer:

Organization's culture.

Explanation:

Every organization has a set of unwritten norms that members of the organization accept and understand and which guide their actions. This system of shared meaning is organization's culture.

An organizational culture typically comprises of values, norms, beliefs and assumptions which defines the most appropriate ways of behaving in an organization (work environment).

Generally, an organizational culture is usually designed and established by the top executives or management of an organization and communicated to the various employees working there.

According to Robert Quinn and Kim Cameron, an organizational culture can be divided into four (4) main categories;

1. Adhocracy culture.

2. Clan culture.

3. Hierarchy culture.

4. Market culture.

<em>Additionally, the significance of an organizational culture is simply that it creates a unique social, efficient and psychological environment of an organization. </em>

7 0
3 years ago
In 2010, Tara used $50,000.00 from funds she had invested in certificates of deposit as a down payment to buy a house. What func
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Answer:

B. medium of exchange.

Explanation:

Money as a medium of exchange is used to facilitate the selling and purchasing of goods and services between parties. Money is widely accepted as a standard of value by parties engaged in the exchange of commodities. It means that one party readily accepts an amount of money in exchange for a product or service that is believed to be worth the amount on offer.

Tara is exchanging her $50,000 for the house. Although the money is only a down-payment, it gives her the right to claim ownership of the house. Once she has fully paid for the house using money, she can only lay a claim on the house,  not the money.

8 0
3 years ago
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