Jackson County Senior Services is a nonprofit organization devoted to providing essential services to seniors who live in their own homes within the Jackson County area. Three services are provided for seniors-home nursing, Meals On Wheels, and housekeeping. Data on revenue and expenses for the past year follow: Revenues Variable expenses Contribution margin Fixed expenses: Depreciation Total Home Nursing Meals On Wheels House-keeping $ 925,000 $263,000 $ 403,000 $ 259,000 475,000 116,000 205,000 154,000 450,000 147,000 198,000 105,000 69,700 8,200 43,400 20,500 40,400 52,600 413,500 121,700 $36,500 $25,300 Liability insurance Program administrators' salaries 115,400 General administrative overhead* 185,000 Total fixed expenses Net operating income (loss) 40,900 7,500 38,400 80,600 167,400 $ 30,600 20,600 15,400 36,600 51,800 124,400 S (19,400) Required: 1-a. What is the financial advantage (disadvantage) of discontinuing the Housekeeping program?

Caring Shop is a gift shop located in The Natural History Museum. Caring shop has annual sales revenue of $850,000. Additionally, the Natural History museum has investment income of $550,000 from its endowment, and an annual operating budget of $3 million. Both the income from the gift shop and the endowment income are used to support the exempt purpose of the museum. The balance of funding required for annual operations is provided through admission fees. Dan Nolan, a new board member, does not understand why the museum is subject to tax at all, particularly because all of the entity's profits are used in carrying out the mission of the museum.   As the museum treasurer, write a letter to Dan Nolan explaining the reason for the tax consequences.

Prepare journal entries for the City of Pudding's governmental funds to record the following transactions, first for fund financial statements and then for government-wide financial statements.   A new truck for the sanitation department was ordered at a cost of $107,250. The city print shop did $3,600 worth of work for the school system (but has not yet been paid). A(n) $14 million bond was issued at face value to build a new road. The city transfers cash of $185,000 from its general fund to provide permanent financing for a municipal swimming pool that will be maintained as an enterprise fund. The truck ordered in (a) is received but at an actual cost of $109,650. Payment is not made at this time. The city transfers cash of $33,600 from its general fund to a capital projects fund. The city receives a state grant of $30,000 that must be spent to promote recycling by the citizens. The first $5,650 of the state grant received in (g) is expended as intended.

4. A non-profit domestic hospital has the following data during the year 2x18: Gross income from hospital operation Operating Expenses (excluding depreciation for the new hospital building) Rent income of commercial space, hospital ground floor, net of 5% withholding taxes Interest on bank deposit, net of 20% withholding tax Dividend income from a domestic corporation P2,000,000 500,000 190,000 40,000 100,000 An additional hospital building was built and finished on June 30, 2X18 at the cost of P4,000,000 with a depreciable life of 25 years. a. Compute the income tax still due and payable in 2X18. b. Assume the hospital was organized for profit, compute the income tax still due and payable in 2X18. 4

Following are several unrelated transactions involving a hospital.  The hospital has a contractual agreement with a lender requiring that $400,000 in cash be set aside to meet its future debt payment. The hospital accrued $1,200,000 in patient service revenues. Charity services of $500,000 also were provided. Contractual adjustments total $600,000. An increase of $50,000 was recorded for bad debts. Recently retired nurses volunteered to assist with a spike in patient demand due to an infectious disease outbreak. The value of these services was estimated to be $200,000, and the hospital normally would have purchased these specialized services. An endowment contribution of $1,900,000 was received. Investments held by the hospital increased in fair value by $45,000. The hospital purchased $840,000 in equipment with resources that had been contributed in prior years for such a purchase.   Record the $400,000 cash receipt to be reinvested in investments to meet its future debt payment.…

During the current year, a voluntary health and welfare organization receives $800,000 in unrestricted pledges. Of this amount, $300,000 has been designated by donors for use next year to support operations in the pharmacy. what amount of unrestricted support should the organizations recognize in its current-year financial statements? A.) $800,000 B.) $700,000 C.) $500,000 D.) $400,000

Accounting for contributions with donor restrictions On January 1, the first day of the fiscal year, a member of a nonprofit hospital's board of directors passed away. His will provided a $96,250 contribution to the hospital to upgrade the skills of its nurses. During January, the hospital spent $41,250 to train the nurses. Prepare journal entries to record the transactions. If no adjustment is necessary, select 'No debit (or credit) entry needed' in the account fields and enter 0 in the amount fields. Account Debit Credit Cash 96,250 Restricted donor contribution revenue 96,250 To record contribution. Nurse training expense 41,250 Cash 41,250 v To record tralning costs. Net assets without donor restrictions, Reclassifications in 41,250 Net assets with donor restrictions, Reclassifications out 55,000 x To record reclassification. > >

Prepare journal entries to record the following transactions and events that occurred in the village of Kowitt Gorge during the calendar year 2022:1. The village commissioners adopted the following budget:

Only typed solution

10-15. Jefferson Animal Rescue is a private not-for-profit clinic and shelter for abandoned domesticated animals, chiefly dogs and cats. At the end of 2019, the organization had the following account balances: [See attached image] The following took place during 2020: 1. Additional supplies were purchased on account in the amount of $16,050.2. Unconditional (and unrestricted) pledges of support were received totaling $95,000. In light of a declining economy, 4 percent is expected to be uncollectible. The remainder is expected to be collected in the current year.3. Supplies used for animal care amounted to $17,200.4. Payments made on accounts payable amounted to $17,100.5. Cash collected from pledges totaled $90,500.6. Salaries were paid in the amount $47,500. Included in this amount is the accrued wages payable at the end of 2019. (The portion of wages expense attributable to administrative expense is $15,000 and fund-raising expense is $2,000. The remainder is for animal care.)7.…