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photoshop1234 [79]
4 years ago
8

. Unique Games, a not-for-profit entity organized to provide athletic competition opportunities for high school students, utiliz

es a number of volunteers in carrying out its mission. At the 2018 Games 50 volunteers provided a total of 1000 hours of service performing tasks such as picking up litter and delivering water to the athletes. A local CPA firm donates its services to prepare the annual tax return and other federal and state required paperwork which must be filed to maintain its status as a tax-exempt organization. During 2018 the CPA firm provided 60 hours of service. If purchased, the CPA services would have cost $60 per hour and the game workers would have cost $6 per hour. How much contributed service revenue should Simplex Games recognize in 2018? A. $6,000. B. $3,600. C. $3,000. D. $0
Business
1 answer:
eimsori [14]4 years ago
8 0

Answer:

The answer is $0.

Explanation:

Contributed service revenue or contributed revenue can be defined as the service or goods received with no payment or any other kind of exchange.

So in this question, the work from the volunteers and the film from CPA can be all accounted for contributed service revenue.

If we calculate them;

  • The movie costs $60 per hour so at 60 hours, it would cost $3600.
  • The 50 volunteers worked a total of 1000 hours, at $6 per hour, the total cost is $6000.

But since Unique Games are a non-profit entity, the amount they should recognize as contributed service revenue is $0.

I hope this answer helps.

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True or False: A rebate and a discount are the same.
crimeas [40]
False



hope it is correct
4 0
3 years ago
An economist resigns her $100,000/year university teaching position to work fulltime in her own consulting business. In the firs
lilavasa [31]

Answer:

ii. Her accounting profit was $150,000

iii. Her economic profit was $50,000

Explanation:

The computation is shown below:

For accounting profit, it is

= Total revenues - total expenses i.e explicit cost

= $250,000 - $100,000

= $150,000

And, for economic profit

= Total revenues - total cost i.e explicit and implicit cost

= $250,000 - $100,000 - $100,000

= $50,000

Hence, the second and third options are correct

7 0
3 years ago
Jamon is a manager in a human resources organization. He has a message for Bob who works on the assembly line. What channel is h
mestny [16]

Answer: All of the above

Explanation:

The options include:

a. Face-to-face

b. Telephone

c. Electronic mail

d. All of the above

Since the manager manager has a message for Bob, any of the communication channels given here can be used.

There is no preferred communication channel here. The manager may decided to tell Bob the message face to face when he sees him. Also, he can call him on the telephone or send an email to him.

Therefore, the correct option is All of the above.

3 0
3 years ago
What percentage of federal tax revenue comes out of individuals paychecks?
Karolina [17]

Answer:

OPTION C = 51%

Explanation:

<em>Percentage of federal tax revenue which comes out of individuals paycheck</em>

<em>=individual income tax+corporate income tax</em>

given that,

individual income tax=42%

corporate income tax=9%

Hence, Percentage of federal tax revenue which comes out of individuals paycheck

=42%+9%

=51%

6 0
3 years ago
Read 2 more answers
Amazon built a new distribution facility in Robbinsville, New Jersey. It is immediately off the exit of a major road. This is an
Aleksandr [31]

Answer:

Option "D" is the correct answer to the following question.

Explanation:

A corporation's physical resources describe as all the measurable and material resources a company holds and uses, including land, production equipment, and electrical equipment and all tangible goods, buildings, furniture, land all include in physical resources.

In the following case, the new distribution facility is a physical resource for Amazon.

5 0
3 years ago
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