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seropon [69]
4 years ago
9

A donor gave equipment valued at $60,000 at the beginning of 2017 to a private not-for-profit organization. The equipment had a

10-year life and depreciation of $6,000 was charged during 2017. 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:
tiny-mole [99]4 years ago
4 0

Answer:

Usually the nonprofit organization should report the value of the donated asset as the difference between the price when donated minus depreciation: $60,000 - $6,000 = $54,000.

But nonprofit organization can choose to recognize only a part of the donation each year as long as they use the asset. This recognized part is usually equivalent to the depreciation cost, so the value of the asset at the end of the year will always be 0. They do this to show smaller balances in order to try to attract more donations. It is always harder for wealthy nonprofit organizations to get more donations, so be having 0 assets donated, they pretend to be "poorer".

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Scientists have modified feed corn genetically, increasing its resistance to insect pests. Farmers who tried out the genetically
frosja888 [35]

Answer:

D) Whether most of the farmers who tried the genetically modified corn last season applied more insecticide than was actually necessary

Explanation:

In order to evaluate this argument, we must first determine the cost equation for corn farmers:

profit = revenue from corn - total costs of producing corn

the total costs of producing corn include coth the price of seeds and pesticide.

Since the price of the seeds is much higher, it can only be offset if the amount of pesticide used was lower. But did the farmers that participated in the research study used the correct amount of pesticide during the last years would be crucial to determining the real impact of the new genetically modified seeds. If the farmers used too much pesticide in the previous years just in case, would mean that the actual use of pesticide should have been less and the costs increase when using the new seeds.

4 0
3 years ago
What is the difference between Special warranty deed vs general warranty deed
GenaCL600 [577]

General warranty deed  and Special warranty deed are warranty deeds used for real estate sales where belongings, either residential or commercial, is transferred between organization unacquainted with each other. Possession of a property is transferred from the seller to the buyer with definite assurance against future problems or claims, which will defend the buyer against fraud.  

However, the assurance in a General warranty deed will cover the belongings entire previous account, the  Special warranty deed will only covers the time period for which the seller owned it. While the seller in a General warranty deed has to protect the title against all other assertion and compensate the buyer for any tentative debts or amends, the seller in Special warranty deed is only responsible for debts and problems accumulated or caused during his possession of the belongings.

6 0
3 years ago
A credit sale of $4700 is made on April 25, terms 2/10, net/30, on which a return of $250 is granted on April 28. What amount wi
Mkey [24]

The amount that will be received as payment in full by the seller after deducting the return of $250, and applying the 2/10, net/30 terms will be equal to $4,361 on May 4.

<h3>What is the 2/10, net/30 rule?</h3>

2/10 Net 30 refers back to the change credit offered to a customer for the sale of products or services. 2/10 net 30 approach that if the amount due is paid within 10 days, the customer will experience a 2% discount.

Otherwise, the amount is due in complete within 30 days.

As per the information:

Selling price: $4,700

Discount: 2% (if paid within 10 days of purchase)

returned: $250

The actual amount to be received by the seller:

\rm\, Actual \,Amount \,to\, be\, Received = (\$4,700 - \$250) \\\rm\, Actual \,Amount \,to\, be\, Received= \$4,450 \times 0.02 \\\rm\, Actual \,Amount \,to\, be\, Received= \$4,450 - \$89 \\\rm\, Actual \,Amount \,to\, be\, Received= \$4,361

Hence, The amount that will be received as payment in full by the seller after deducting the return of $250, and applying the 2/10, net/30 rule will be equal to $4,361 on May 4.

learn more about 2/10 Net 30 terms:

brainly.com/question/19865944

#SPJ1

6 0
2 years ago
A project has been assigned a discount rate of 12 percent. If the project starts immediately, it will have an initial cost of $4
victus00 [196]

Answer:

The value of the option to wait is $0.70,option A.

Explanation:

In calculating the value of the option to wait,I discounted all cash flows under both alternatives, using the discount rate of 12% as given in the question.

Option to start now gives net present value(positive return ) of $360.64 while the other one gives $361.34,invariably option to wait one year gives $0.70($361.34-$360.64) more than the option to start now.

The formula used in the calculating present value is PV=FV(1+r)^n

Where PV=present value

FV=future value

r=rate of interest

n=number of year

Find attached spreadsheet for detailed calculations.

7 0
3 years ago
Trevor restores antique cars and sells them for profit. This is an example of _____ income.
anyanavicka [17]
Trevor restores antique cars and sells them for profit. This is an example of CAPITAL GAINS income.

Capital Gain is a profit earned from the sale of a property or an investment. It is not only limited to vehicles. It is also applicable to real estate sales. Every Capital Gain has its corresponding taxes to be paid to the government.
5 0
3 years ago
Read 2 more answers
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