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:
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Answer:
Giles lives in a low humane orientation society.
Explanation:
To begin with, humane orientation is the degree which a society promotes and rewards individuals for being altruistic (not selfish), fair, generous and friendly to others in the society. Any society that posses and encourages such good traits can be said to be a high humane orientation society.
On the other hand, any society where people are selfish, unfair, not generous and unfriendly is a low humane orientation society. That is exactly the kind of society which Giles lives in.
Answer:
a. For tax purposes, what portion of Justin’s trip is regarded as being for business?
The whole trip is considered a business trip because Justin started working before the weekend and continued to work after the holiday was over. He is not responsible for bad weather conditions.
b. Suppose Monday was not a legal holiday. Would this change your answer in (a)? Explain.
Yes, it would make a difference since a legal holiday counts as a labor day, so Justin legally worked immediately after the weekend, but if Monday wasn't a holiday and he got back to work on Tuesday, then he couldn't consider Saturday, Sunday nor Monday as business days.
c. Under either (a) or (b), how much of Justin’s airfare qualifies as a deductible business expense?
the airfare is 100% deductible under any scenario
Answer:
d. a subpoena duces tecum
Explanation:
In this situation Exgrow Inc violated the Clean Air Act. which is a federal law that was created in order to regulate air pollution on a national level. In order to force Exgrow to give up the computerized reports concerning their pollution the EPA should use a subpoena duces tecum. This is court summons forcing the party in question to appear before the court and provide all the documentation or physical proof regarding the situation at hand. If they do not then they can either get fined or be shut down entirely.
Answer:
<em>The missing figures for Worksheets are</em>;
<u>Type of Tax (Form)</u> - 941
This is used by Employers to report the taxes they withheld from Employee .
<u>Amount of Deposit</u> - $1,355.36
The Federal Deposit Liability per pay was $677,68. There was biweekly payments meaning 2 payments were made in the month so this figure must be multiplied by 2.
= 677.78 * 2
= $1,355.36
<u>Tax Period</u> - 4th Quarter (stated in question)
<u>To be deposited on or before</u> - November 15, 2019
This is because when paying monthly, the due date is always on the 15th of the following month.
