Homework Answers
Answers:
1. Option 1: They are non tax exemption
Most of the Non profit organisations are tax exempt ones
2.Option 1: Daily/weekly- Quarterly- annually
As health care will have cases on daily basis its most useful and use reporting
3.FY - Fisical year
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Question 1 A for profit organization is different than a non-profit organization in that they:...
QUESTION 1 A non-profit organization decides to use an accounting software solution designed for non-profits. The...
QUESTION 1 A non-profit organization decides to use an
accounting software solution designed for non-profits. The solution
is hosted on a commercial provider's site but the accounting
information suchas the general ledger is stored at the non-profit
organization's network. Access to the software application is done
through an interface that uses a coneventional web browser. The
solution is being used by many other non-profit The cloud service
model used in the case is: O
a) laas
b) Paas
c) Saas...
Please help with the question in bold using the information presented, Thanks. No cost data is...
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Your non-profit organization is given a gift of $38,000 to cover your annual health care costs...
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Exercise 1. You are the manager of a no profit organization and you have to prepare...
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TER 1 The Government and Not-for-Profit Environment 5. The organization responsible for setting accounting standards for...
TER 1 The Government and Not-for-Profit Environment 5. The organization responsible for setting accounting standards for state and local governments is the a. FASB b. GASB c. FASAB d. AICPA 6. The number of governmental units in the United States is approximately a. 900 b. 9,000 с. 90,056 d. 900,000 7. Governments differ from businesses in that they a. Do not raise capital in the financial markets b. Do not necessarily engage in transactions in which they "sell" goods or...
Bonnie’s Family is a non-profit organization which assists families with low-income, special needs children, or are...
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Bonnie's Family is a non-profit organization which assists families with low-income, special needs children, or are...
Bonnie's Family is a non-profit organization which assists families with low-income, special needs children, or are victims of domestic violence. They have a 30 year mortgage with a 5% interest rate which requires a payment of $3,000 per month. In preparing the financial statements for the board, you list the mortgage balance of $287,000 as a current liability based on the board hoping to pay it off within the next year. If Bonnie's pays according to the mortgage agreement, only...
1. In a not-for-profit organization, donations received for a particular purpose are recorded as Net Assets...
1. In a not-for-profit organization, donations received for a particular purpose are recorded as Net Assets without donor restrictions. Donations that are cannot be spent, but the earnings can be are referred to as Net Assets without donor restrictions. Profits and donations with no donor specifications are referred to as Net Assets with donor restrictions. True or False? 2.The Excess of Revenues over Expenses focuses on operating activities, while the Increase in Net Assets without Donor Restrictions includes non-operating changes...
QUESTION 1 A non-profit organization decides to use an
accounting software solution designed for non-profits. The solution
is hosted on a commercial provider's site but the accounting
information suchas the general ledger is stored at the non-profit
organization's network. Access to the software application is done
through an interface that uses a coneventional web browser. The
solution is being used by many other non-profit The cloud service
model used in the case is: O
a) laas
b) Paas
c) Saas...
Your non-profit organization is given a gift of $38,000 to cover your annual health care costs for the next 5 years. If your bank presents you with an option for a 6% nominal interest rate compounded monthly. If you want to calculate how much you can withdraw every year in equal sums, what are your components? ( - Present worth A. $38,000 - Annual Interest Rate B.6% (- Compounding Interest Rate C. 0.5% (- Number of compounding periods D. 60
Exercise 1. You are the manager of a no profit organization and you have to prepare a Statement of activities income statement) and a Statement of financial position for the year just passed (year T). Prepare these 2 accounting documents and find how much are, according to the numbers, the operating income (EBIT), the net profit (if any) and the value of net assets of your organisation Total revenues are € 400.000 Costs: total cost of labour is € 160,000...
TER 1 The Government and Not-for-Profit Environment 5. The organization responsible for setting accounting standards for state and local governments is the a. FASB b. GASB c. FASAB d. AICPA 6. The number of governmental units in the United States is approximately a. 900 b. 9,000 с. 90,056 d. 900,000 7. Governments differ from businesses in that they a. Do not raise capital in the financial markets b. Do not necessarily engage in transactions in which they "sell" goods or...
Bonnie's Family is a non-profit organization which assists families with low-income, special needs children, or are victims of domestic violence. They have a 30 year mortgage with a 5% interest rate which requires a payment of $3,000 per month. In preparing the financial statements for the board, you list the mortgage balance of $287,000 as a current liability based on the board hoping to pay it off within the next year. If Bonnie's pays according to the mortgage agreement, only...
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