0SeBookAskPrinteferencesMcGrawHill::FI2Sophie Sue Breeders has the following voluntary withholdings to remit:AFLAC payable: $600.00401(k) payable: $1,320.00-WKCTC_....txt AGarnishments payable: $439.00United Way contributions payable: $280.00SWmendXRequired:Create the General Journal entry on June 11, 2021, for the remittance of these withheld amounts. (If no entry is required for atransaction/event, select "No journal entry required" in the first account field.)View transaction listJournal entry worksheet<F2Record the remittance of voluntary withheld amounts.Note: Enter debits before credits.DateJune 111#3ED80F3JUL22$4RGeneral JournalFaF4%5< PrevF5TG6CV BDebit10 of 10tv ♫Hwwwwwwwww&7AF7Credit9UNext >8JDIIFBIlIN M(9K&F9O)AOF10L*Help Save & ExitPcommand:Check my workSubwShow AlF12optionW

A journal entry is a form of accounting entry that is used to report a business transaction in a…

Answered: Sophie Sue Breeders has the following…

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter28: Income Taxati On Of Trusts And Estates

Section: Chapter Questions

Problem 16CE

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Carleton Agency, a VHWO, conducts two programs: Medical Services and Community Information Services. It had the following transactions during the year ended June 30, 2019.1. Received the following contributions:Unrestricted pledges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $800,000Restricted cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95,000Building fund pledges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50,000Endowment fund cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,0002. Collected the following pledges:Unrestricted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $450,000Building fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .…
A non-profit organization received S80,000 as the entrance fee of a new member. If 10% of the fee has to be capitalized, what is the amount of fee needs to be shown in the income and expenditure account? O a. S72,000 O b. $82,000 O . S80,000 O d. $62,000
A Charity institution capital fund of the non profit organization has OMR 900,000. The income earning @ OMR 250,000 and OMR60,000 expenses. What is the excess value of income statement?Select one:a. OMR 160,000b. OMR 650,000c. OMR 190,000d. OMR 590,000
Information regarding define benefit plan as of December 31, 2003 15/35 follows: Fair value of pian assets, January 1 P480, 000 Fair value of plan assets, December 31 PV of define benefit obligation P 1, 128, 000 P720, 000 P800, 000 Contribution made to the fund, July 1 Benefits paid to retirees, September 30 P200, 000 6% 7) How much is the interest income on the plant asset? Discount rate a. 56, 400 b. 24, 000 C. 41, 500 d. 46, 000 8) How much is the remeasurement to the net defined liability(asset) to be recognized in other comprehensive income? a. 5, 000 gain b. 5, 000 loss C. 6,500gain d. 0
The following information was taken from the accounts and records of the Helping HandsFoundation, a private, not-for-profit organization classified as a VHWO. All balances are as ofJune 30, 2014, unless otherwise noted.Unrestricted Support - Contributions $2,000,000Unrestricted Support - Membership Dues 640,000Unrestricted Revenues - Investment Income 80,000Temporarily restricted gain on sale of investments 25,000Expenses - Program Services 1,860,000Expenses - Supporting Services 350,000Expenses - Supporting Services 550,000Temporarily Restricted Support - Contributions 640,000Temporarily Restricted Revenues - Investment Income 60,000Permanently Restricted Support - Contributions 100,000Unrestricted Net Assets, July 1, 2013 450,000Temporarily Restricted Net Assets, July 1, 2013 2,100,000Permanently Restricted Net Assets, July 1, 2013 60,000 The unrestricted support from contributions was received in cash during the year. The expensesincluded $1,350,000 paid from temporarily-restricted…
contribution of P2,000,000 to a fund held and managed by a 5. An entity's retirement benefit plan provides for an annual ontribution of P2,000,000 to a fund held and managed by a third party. The fund is legally separate from the entity and is to be used solely for the retirement pay of employees. The amount to be received by a retiring employee is dependent on the amount of contributions and the investment income earned on those contributions. The third party trustee assumes the obligation of disbursing the funds to retiring employees. The entity made the following contributions to the fund: 20x1, PO; 20x2, P4,700,000; and 20x3, P1,200,000 Requirements: Provide the entries to record the contributions.
An NFP organization receives supplies from a donor. At what amount is the donation reported in contribution revenue? Select one: A. The donor's cost B. Fair value at the date of donation C. Fair value at year-end D. Zero
The following relates to the define benefit obligation plan for Tokwa’t Baboy Inc. in 2016:Accrued benefit obligation, January 1 4,600,000Accrued benefit obligation, December 31 4,929,000FV of plan assets, January 1 5,035,000FV of plan assets, December 31 5,565,000Actuarial gain due to remeasurement of benefit obligation 32,500Employer contributions 425,000Benefits paid to retirees 390,000Discount rate 10% The service cost for current year would beA. P219,500 B. P226,500 C. P262,500 D. P291,500 . The actual return on plan assets for the year isA. P105,000 B. P495,000 C. P503,500 D. P512,000 What is the retirement benefit expense reported in profit or loss for the year 2016?A. P224,000 B. P242,000 C. P248,000 D. P284,000
ions) Saved Help Save & Exit Submit Bissell Company recelved the following reports of its defined benefit penslon plan for the current calendar year: PBO Plan assets $400,000 195,000 32,000 (80,000) $250,000 30,000 110,000 (80,000) Balance, January 1 Balance, January 1 Service cost Actual return Interest cost Annual contribution Benefits paid Benefits paid Balance, December 31 $547,000 Balance, December 31 $310,000 The long-term expected rate of return on plan assets is 10%. Assuming no other data are relevant, what is the pension expense for the year? Multiple Choice $202,000. $197,000. $227,000. Prev 9 of 15 Next > Show 7 Question no....pages ..pdf Question no....pages MacBook Air 身
Below is the complete set of Financial Statements of Take-Home University (THU), a PublicUniversity of Ghana, issued on 1st May 2020.Statement of Financial Performance for the Year Ended 31 December, 2018Revenue NotesGOG grant 1,540,000,000Internally Generated Funds 2 14,427,492,000Donations and other income 9,278,258,00025,245,750,000ExpenditureCompensation for employees 3 8,385,270,000Goods and services 4 2,238,083,000Social benefit 1,720,000Interest 1,720,000Capital expenditure (CAPEX) 5 25,542,515,000Other expenses 6 79,100,00036,248,408,000Net Operating Result – Deficit (11,002,658,000)Statement of Financial Position as at 31 December 2018NotesCurrent AssetsCash and cash equivalent 294,233,000Receivable (468,050 -10,000) 458,050,000Inventory 155,254,000907,537,000Liabilities and FundPayable 7 696,325,00020% Loan 8,600,000704,925,000Accumulated fund 8 202,612,000907,537,0004Cash Flow Statement for the Year ended 31st December 2018Cash InflowsGOG grant 1,540,000,000Internally…
Below is the complete set of Financial Statements of Take-Home University (THU), a PublicUniversity of Ghana, issued on 1st May 2020.Statement of Financial Performance for the Year Ended 31 December, 2018Revenue NotesGOG grant 1,540,000,000Internally Generated Funds 2 14,427,492,000Donations and other income 9,278,258,00025,245,750,000ExpenditureCompensation for employees 3 8,385,270,000Goods and services 4 2,238,083,000Social benefit 1,720,000Interest 1,720,000Capital expenditure (CAPEX) 5 25,542,515,000Other expenses 6 79,100,00036,248,408,000Net Operating Result – Deficit (11,002,658,000)Statement of Financial Position as at 31 December 2018NotesCurrent AssetsCash and cash equivalent 294,233,000Receivable (468,050 -10,000) 458,050,000Inventory 155,254,000907,537,000Liabilities and FundPayable 7 696,325,00020% Loan 8,600,000704,925,000Accumulated fund 8 202,612,000907,537,0004Cash Flow Statement for the Year ended 31st December 2018Cash InflowsGOG grant 1,540,000,000Internally…
The League, a non-profit organization, received the following pledges:Unrestricted P200,000Restricted for Capital Additions 150,000All pledges are legally enforceable. However, the League’s experience indicates that 10% of all pledgesprove to be uncollectible. What amount should the League report as pledges receivable net of any requiredallowance account? PROVIDE JOURNAL ENTRY

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