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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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siniylev [52]

Answer:

Total production= 20,600 units

Explanation:

Giving the following information:

Marvel’s expected sales are 20,000 bookcases for the quarter. The company begins the quarter with an inventory of 3,000 bookcases and wants to have enough finished bookcases on hand at the end of the quarter to provide for 15% of the next quarter’s expected sales of 24,000 bookcases.

Sales= 20,000 units

Ending inventory= (24,000*0.15)= 3,600

Beginning inventory= 3,000 (-)

Total production= 20,600 units

5 0
3 years ago
Workplace CrossWord Help:
elena55 [62]

Answer:

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It is usually passed across to managers through training and the managers in turn ensure that the employees are trained as well thus ensuring that the practices become standard practices in the organization.

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4 0
3 years ago
Broadbent's model is called an early selection model because
Reptile [31]
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3 years ago
Thursday nights at 8:30 pm, a tv station enjoys a 40 share. at that time the homes using television (hut) level is 65. what is t
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6 0
3 years ago
Which of the following accounting concepts states that an accounting transaction should be supported by sufficient evidence to a
pshichka [43]

Answer:

The correct answer is the option C: Verifiability.

Explanation:

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