ADVANCED ACCOUNTING
13th Edition
ISBN: 9781260773033
Author: Hoyle
Publisher: MCG
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Chapter 18, Problem 1DYS
To determine
Write a report to the partners of Hackney and Walton. Describe the charities you selected and recommend which of these charities they should support.
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3. Charity Navigator (https://www.charitynavigator.org) is a website dedicated to providing information regarding not-for-profit charitable organizations.
After reviewing the website, explain how not-for-profit organizations are rated.
Explain why there is a need for the type of information provided by Charity Navigator.
Choose one to two charities listed in the website. Explain the information provided about the charity (financial and nonfinancial), the rating of the charity, and any other relevant factors.
Most of the pople to whom you sent letters have sent donations to compton memorial hospital. Name the first column donation. Name the second matching funds. Name the third column total. Enter the amount shown below for each person in the donation column. Enter a formula to copy the amounts into the matching funds column. Enter a formula in the total column to add the donation and the matching funds. Sum the donation column to find the total donations from these patrons. Sum the total column to find the total donations including the mathing funds.
Assume you wrote up a proposal requesting $5000 for charity. The money would be used to buy food that volunteers (employees from
the company) would distribute to the homeless on Saturday. The proposal is approved and you receive the money.
However, the CEO comes to you and asks, "What will be the return on the investment?" How would you reply?
Chapter 18 Solutions
ADVANCED ACCOUNTING
Ch. 18 - Prob. 1QCh. 18 - Prob. 2QCh. 18 - Prob. 3QCh. 18 - What are temporarily restricted net assets?Ch. 18 - What are permanently restricted net assets?Ch. 18 - Prob. 6QCh. 18 - Prob. 7QCh. 18 - Prob. 8QCh. 18 - Prob. 9QCh. 18 - Prob. 10Q
Ch. 18 - Prob. 11QCh. 18 - Prob. 12QCh. 18 - Prob. 13QCh. 18 - Prob. 14QCh. 18 - Prob. 15QCh. 18 - When should membership dues be considered revenue...Ch. 18 - Prob. 17QCh. 18 - Prob. 18QCh. 18 - Prob. 19QCh. 18 - Prob. 20QCh. 18 - Prob. 21QCh. 18 - Prob. 1PCh. 18 - Prob. 2PCh. 18 - Prob. 3PCh. 18 - Prob. 4PCh. 18 - A donor gives Charity 1 50,000 in cash that it...Ch. 18 - Prob. 6PCh. 18 - Prob. 7PCh. 18 - Prob. 8PCh. 18 - Prob. 9PCh. 18 - Prob. 10PCh. 18 - Prob. 11PCh. 18 - Prob. 12PCh. 18 - Prob. 13PCh. 18 - Prob. 14PCh. 18 - Prob. 15PCh. 18 - Prob. 16PCh. 18 - Prob. 17PCh. 18 - Prob. 18PCh. 18 - Prob. 19PCh. 18 - Prob. 20PCh. 18 - Prob. 21PCh. 18 - Prob. 22PCh. 18 - Prob. 23PCh. 18 - Prob. 24PCh. 18 - Prob. 25PCh. 18 - Prob. 26PCh. 18 - Prob. 27PCh. 18 - Prob. 28PCh. 18 - Prob. 29PCh. 18 - Prob. 30PCh. 18 - Prob. 31PCh. 18 - Prob. 32PCh. 18 - Prob. 33PCh. 18 - Prob. 34PCh. 18 - Prob. 35PCh. 18 - Prob. 36PCh. 18 - Prob. 37PCh. 18 - Prob. 38PCh. 18 - Prob. 39PCh. 18 - A private not-for-profit entity is working to...Ch. 18 - Prob. 41PCh. 18 - The University of Danville is a private...Ch. 18 - Prob. 43PCh. 18 - Prob. 44PCh. 18 - Prob. 45PCh. 18 - Prob. 46PCh. 18 - Prob. 47PCh. 18 - Prob. 48PCh. 18 - Prob. 49PCh. 18 - At the beginning of Year 1, the entity above...Ch. 18 - Prob. 51PCh. 18 - Prob. 52PCh. 18 - Prob. 53PCh. 18 - Prob. 54PCh. 18 - Prob. 1DYSCh. 18 - Prob. 2DYSCh. 18 - Prob. 3DYSCh. 18 - Prob. 4DYSCh. 18 - Prob. 5DYSCh. 18 - Prob. 6DYS
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- Charity Navigator (https://www.charitynavigator.org) is a website dedicated to providing information regarding not-for-profit charitable organizations. A. After reviewing the website, explain how not-for-profit organizations are rated. B. Explain why there is a need for the type of information provided by Charity Navigator. C. Choose one to two charities listed in the website. Explain the information provided about the charity (financial and nonfinancial), the rating of the charity, and any other relevant factors.arrow_forwarda) Modern Day Gospel Fellowship is a non-denominational charity organisation established in 2001. The charity's aim is to provide support to children from disadvantaged backgrounds. The support comes in two folds i.e. academic such as scholarships and related academic activities and sports such as tennis, swimming and football. The aim is to provide total well-being to humanity. Modern Day Gospel Fellowship has detailed constitution which explains how the charity's income can be spent. The constitution also notes that the administration expenditure cannot exceed 6% of annual income. The charity's income is derived wholly from voluntary donations which includes: • Cash collected from public donations by volunteers. • Cheques sent to the charity's head office. • Donation from generous individuals. Some of these donations have specific clauses attached to them indicating that the initial amount donated (capital) cannot be spent. However, the income (interest) from the donation can only be…arrow_forwardYou are serving as the chair for your community's annual wellness campaign. A key event is the annual Walk 3k, Run 10k, Ride 20k event. The event is staged entirely by volunteers and the goal is to attract community-wide awareness of getting active as a key step to wellness. In other words, the goal is not to raise money, but to prompt awareness. As the chair, you set a financial goal to break even on the one and only cost of the event, a fitness bag with the community seal and the event motto, “I AM ON THE RIGHT TRACK!” The cost of the bags, which must be ordered in batches of 100, are: Bags/ Participants Fixed Cost Variable Cost Total Cost Marginal Cost 0 $1,700 $ - $1,700 100 $1,700 $500 $2,200 [a] 200 $1,700 $1,200 $2,900 [b] 300 $1,700 $2,700 $4,400 [c] 400 $1,700 $5,200 $6,900 [d] 500 $1,700 $9,000 $10,700 [e] 600 $1,700 $15,000 $16,700 [f] 700 $1,700 $23,800 $25,500…arrow_forward
- The Fleming Foundation is a charitable organization founded by Gaylord Fleming and Sandy Fleming. The Flemings intended for the charity to provide programs in health care for older persons, particularly those in poverty. The two main program divisions of the foundation are mental health and housing for elderly individuals. In addition to these programs, the foundation also provides health care educational programs and has a significant fund-raising effort to help the foundation grow and accomplish the goals of the founders. The foundation is organized into two operating departments-education and program management. These departments are supported by two service departments-information technology (IT) and administration. To summarize, there are four departments (two service departments and two operating departments) and two programs (mental health and housing for older adults). The service department costs are allocated to the operating departments, and then the operating department…arrow_forwardAssume that you are the financial manager for Healthy Body Hospital and you have been asked to explain about the cost of capital to a group of non-financial managers who are also employed at this hospital. In advance of your presentation, you have been given the following three questions. Write a paragraph of approximately 100 words in response to each of these questions that will help guide your explanation to the group that you will be addressing. Because you will be speaking to a group of non-financial managers, in your own words, explain what exactly is meant by the term “cost of capital”. Prior to undertaking any capital budget project, is it important for a financial manager to understand the cost of capital? Why or why not? What are we referring to when we discuss the “optimal capital structure” of a business? Why is the optimal capital structure also referred to as the “target capital structure”? For a health care entity, in particular, what are some factors that you must…arrow_forwarda) Modern Day Gospel Fellowship is a non-denominational charity organisation established in 2001. The charity’s aim is to provide support to children from disadvantagedbackgrounds. The support comes in two folds i.e. academic such as scholarships and related academic activities and sports such as tennis, swimming and football. The aim is to provide total well-being to humanity.Modern Day Gospel Fellowship has detailed constitution which explains how the charity’s income can be spent. The constitution also notes that the administration expenditure cannot exceed 6% of annual income.The charity’s income is derived wholly from voluntary donations which includes: • Cash collected from public donations by volunteers.• Cheques sent to the charity’s head office.• Donation from generous individuals. Some of these donations have specific clauses attached to them indicating that the initial amount donated (capital) cannot be spent. However, the income (interest) from the donation can only be…arrow_forward
- The Fleming Foundation is a charitable organization founded by Gaylord Fleming and Sandy Fleming. The Flemings intended for the charity to provide programs in health care for older persons, particularly those in poverty. The two main program divisions of the foundation are mental health and housing for elderly individuals. In addition to these programs, the foundation also provides health care educational programs and has a significant fund-raising effort to help the foundation grow and accomplish the goals of the founders. The foundation is organized into two operating departments-education and program management. These departments are supported by two service departments-information technology (IT) and administration. To summarize, there are four departments (two service departments and two operating departments) and two programs (mental health and housing for older adults). The service department costs are allocated to the operating departments, and then the operating department…arrow_forwardYou were asked to make a presentation to a group of CSEC students on some areas related to non-profit making organisations. The specific areas are: i difference between accounts for non-profit and for-profit organisations 11. examples of non-profit organisations in your country 111. an explanation of the use of a subscription account iv. preparing a subscription account from given data For your presentation, research (i), (ii), (iii) and use the data below to complete (iv). A drama club charges its members an annual subscription of $40 per member. It accrues for subscriptions owing at the end of each year and also adjusts for subscriptions received in advance. i. ii. 111. On January 1, 2022, 36 members owed $720 for the 2021 year In December 2021, 8 members paid $160 for the year 2022 During the year 2022 the club received cash for subscriptions $$14,840 $720 $13840 $280 iv. At the end of December 31, 2022, 11 members had not paid their 2022 subscriptions. For 2021 For 2022 For 2023arrow_forwardOnce upon a time, there was an amazing group of students who studied at Cronfwoman University. News had spread about how good these students were – both at school work, and at working with each other. They chit‐chatted with their neighbors in class, collaboratively worked with them and shared many a smiles with them. The amazing students were approached by an investor, Ms Finn Ance Major, who asked for their help. The investor was contemplating setting up a Sandwich Shop at the University and wondered if that was a good investment. What is your recommendation to Ms Finn Ance Major? Here is some information to get you started: 1. The Sandwich Shop will sell made‐to‐order cold and hot sandwiches, and non‐alcoholic beverages only 2. The University has an intake of 6,000 students for the 3‐year Undergraduate program and 1,000 students for the 2‐year Master’s Program per year 3. There are a 4 other food options on campus – but none of these offer sandwiches 4.…arrow_forward
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