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stellarik [79]
3 years ago
8

During the current year, the Finn Foundation, a nongovernmental not‐for‐profit organization, received a $1,000,000 permanent end

owment from Chris. Chris stipulated that the income must be used to provide recreational activities for the elderly. The endowment reported income of $80,000 in the current year, and it was spent on recreational activities for the elderly. The foundation has adopted a policy to recognize donor‐restricted contributions whose restrictions are met in the same reporting period as contributions without a donor restriction. What amount of contribution revenue with donor restriction should Finn report at the end of the current year?
Business
1 answer:
Yuliya22 [10]3 years ago
6 0

Answer: $1,000,000

Explanation:

We are informed from the question that in the current year, the Finn Foundation, a nongovernmental not‐for‐profit organization, received a $1,000,000 permanent endowment from Chris.

We are further told that the endowment reported income of $80,000 in the current year, and it was spent on recreational activities for the elderly.

The amount of contribution revenue with donor restriction that Finn should report at the end of the current year should be the $1,000,000 gotten from Chris.

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Jane contributed property with a basis of $40,000 and a value of $50,000 to the JO Partnership in exchange for a 20 percent inte
aleksandrvk [35]

Answer:

E) $11,000 gain.

Explanation:

Jane's capital in the partnership = $40,000 (land exchanged for stock) + $8,000 (Jane's share of the partnership's profits)  - $10,000 (distribution received by Jane) = $38,000

Jane sold her stake at the partnership at $49,000, so her gain = selling price - capital = $49,000 - $38,000 = $11,000

5 0
3 years ago
Abc audio sells headphones and would like to earn after tax profit of $400 every week. each set of headphones costs $5 and is so
MrRa [10]
Let us denote the number of headphones with h. If tax rate applies on the revenue of 10h, then the cost and the revenue can be calculated as: cost= 5h + 200revenue=10h - 0.2(10h) = 8h
8h - (5h + 200) = 4008h - 5h - 200 = 4003h = 600h = 200
So, in order to meet the goal of $400 we should sell 200 headphones.
8 0
3 years ago
Read 2 more answers
Sekelow Enterprises is a debt collection agency. It uses postcards to contact consumer debtors it is attempting to collect from
Olegator [25]

Answer:

The correct answer is: No, it is not legal.

Explanation:

The Fair Debt Collection Practices Act (FDCPA) is a federal law that prohibits debt collectors from using abusive, unreasonable, or misleading money-recovery methods. That is meant to protect debtors from harassment or intimidation.  

<em>Collectors cannot present themselves as law enforcement or government officials, they cannot call people at work or multiple times at home or during out hours, they cannot pass off papers as legal documents when they are not, they cannot arrest you, or lie in any way.</em>

Thus, <em>Sekelow has violated the FDCPA by sending debtors postcards requesting contact from their end.</em>

5 0
3 years ago
Jake’s Battery Company has two service departments, Maintenance and Personnel. Maintenance Department costs of $160,000 are allo
Inga [223]

Answer:

D. $96,000

Explanation:

We will allocate the cost on maintenance by first stablishing a rate per maintenence hour:

As this is direct method we aren''t doing an allocation to other service department we directly allocate against production department A and B

total hours:  480 + 320 = 800

160,000 total cost /800 hours = 200 per hour

Department B hours: 480

allocate to department B: 480 x 200 = 96,000

5 0
4 years ago
Which of the following is not a concept related to explaining abnormal excess stock returns?A. January effect B. neglected-firm
Anastaziya [24]

The preferred stock effect is not a notion that can be used to explain abnormally high excess stock returns.

<h3>What is the preferred stock?</h3>

The term "stock" refers to a company's ownership or equity. Common stock and preferred stock are the two forms of equity. Preferred investors are entitled to more dividends or asset distributions than common stockholders. The specifics of each preferred stock vary depending on the issuance.

When it comes to dividends, preferred stockholders have a preference over ordinary stockholders, which typically yield more than common shares and might be paid monthly or quarterly. These dividends can be fixed or determined by reference to a benchmark interest rate, such as the London Interbank Offered Rate.

To learn more about stock, click

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7 0
1 year ago
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