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".
C. Public Good (at least I think because the money goes to the public)
Answer:
(a)
July 31, 2022
Dr. Depreciation Expense $4,580
Cr. Accumulated Depreciation $4,580
(b)
Dr. Cash $22,430
Dr. Accumulated Depreciation $41,410
Dr. Loss on Sale of asset $14,030
Cr. Cost $77,870
Explanation:
Before sale of the asset, depreciation for the year should be recorded. To incorporate its effect on the sale.The depreciation for the 7 months of 2022 will be added to the accumulated depreciation account.
July 31, 2022
Accumulated Depreciation = $36,830 + $4,580 = $41,410
Net Loss is calculated by deducting the accumulated depreciation and cash received on the sale from the original cost of the asset.
Answer:
business and trade publications
Explanation:
A trade publication is a type of publications that specifically share information between and about personnels or individuals, often experts, within a particular industry for the purpose of improving their business or field and to actively keep current or updated on market trends.
Hence, BUSINESS AND TRADE PUBLICATIONS is a good source for gathering competitive information about senior managers' responsibilities, their background, their education, and highlights of their achievements to date.
Answer:
False
Explanation:
There are business that do not need wholesale distributors, as online commerce expands, the supply chains are shrinking, e.g. Xiaomi is a Chinese smartphone manufacturer that only sells its phones online, and it is the fourth largest cellphone manufacturer in the world.
There are 5 elements in developing a retail strategy:
- scope
- goals and objectives
- resource deployment
- sustainable competitive advantage
- synergy
