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Which of the following is a not true statement about tax-exempt organizations?
A. they must be organized to serve the charitable needs of the public at large.
B. they must first become a not-for-profit corporation or charitable trust.
C. they are permitted to do some political lobbying if guidelines are met.
D. their unrelated business income is taxed at corporate income tax rates.
During December 2008, Fashion Vixen Publishing sold 2,500 12-month annual magazine subscriptions at a rate of $30 each. The first issues were mailed in February 2009. Prepare the journal entries on Fashion Vixen's books 1) to record the sale of th..
During each of the next two years, warner declared and paid cash dividends of $0.85 per share, and its net income was $72,000 and $67,000 for 2007 and 2008, respectively. The January 12, 2009, entry to record the sale of 3,000 shares of warner com..
On January 1, 2009, D Corp. granted an employee an option to purchase 6,000 shares of D's $5 par common stock at $20 per share.
The land contributed by Stephanie was encumbered by a $250,000 nonrecourse debt. Assume the partners share debt equally. Immediately after the formation, the basis of Stephanie's partnership interest is:?
On September 1, 2009, Barrett Corporation signed a one-year, 8% interest-bearing note payable for $50,000. Assume that Barrett Corporation maintains its books on a calendar year basis. What amount should Barrett Corp. record as interest expense fo..
Please help with writing a research paper that examines an issue of current relevance to public policymaking.
What is the amount of the loss on impairment that Beehive should recognize at June 30, 2006?
One pound of material is required for each finished unit. The inventory of materials at the end of each month should equal 20% of the following month's production needs. At the beginning of Month 1, 3,200 lb. of materials were on hand. Purchases o..
Jack and Jill Company produces two products, X and Y. X sells for $10/unit and Y sells for $20/unit. The products have a variable cost of $9 for X and $14 for Y. Last year the company sold 10,000 units of X and 40,000 units of Y. Fixed costs are a..
Non-Controlling interest in a selling subsidiary affects only the allocation of the eliminated unrealized gain or loss and not the amount eliminated?
The Chief Financial Officer, Mr. Roach, told him it was impractical because it would require the issuance of common stock at a cost of 13.5 percent to finance the purchase. Is the company following a logical approach to using its cost of capital?
Why would you use the percentage of sales method for calculating doubtful accounts as opposed to the percentage of receivables method?
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