Answer:
correct option is B. A nonprofit corporation
Explanation:
solution
correct option is nonprofit corporation because nonprofit corporation is also called as tax exempt corporation
and it does not have any purpose of profit for owner and no need to pay federal taxes and state or local taxes
nonprofit organization is reinvest its profit and this type of company solely reinvest in themselves
so correct option is B. A nonprofit corporation
The set of processes used to get members of an organization to work together to further the interest of the organization is called organizational goals.
The company typically starts out by doing a SWOT (strengths, weakness, opportunities, threats) analysis to determine what is most important for the company to proceed with and prioritize. They then determine what is expected of members of the organization to accurately complete their goals.
Answer:
$25,800 increase
Explanation:
The computation of the adjusted retained earning balance is shown below:
Ending inventory was overstated - no change
Add: Depreciation expense was overstated $24,100
Add: Ending inventory was understated $6,500
Less: Depreciation expense was understated ($4,800)
Adjusted retained earning balance $25,800
Answer:
C) $868,000
Explanation:
The costs associated to the purchase of the tract of land were:
- Purchase price of land = $780,000
- Demolition of old building = $70,000
- Legal fees = $10,000
- Title guarantee insurance = $16,000
- Proceeds from sale of salvaged material = $8,000
The total cost of the land = purchase price + demolition costs + legal fees + title guarantee insurance - proceeds from salvaged materials = $780,000 + $70,000 + $10,000 + $16,000 - $8,000 = $868,000
The demolition costs are capitalized to land because they are a necessary cost to bring the land into its intended condition. Legal fees and title guarantee are necessary to avoid legal problems.