In a retail, wholesale or manufacturing company the most common revenue account is Sales. In a...

In a retail, wholesale or manufacturing company the most common revenue account is Sales. In a nonprofit the revenue is separated into what two classifications based on the intention of donors?

Expert Solution

Many charities dread restricted donations. But, all charities should understand what restricted and unrestricted funds are and also how to use them advantageously.

Charities, by and large, prefer unrestricted funds since they can determine how to use a donation. They also may believe that donors equate unrestricted funds with "overhead." That term generally applies to the money needed to keep the lights on, people employed, technology installed, and rent for office space.

Nonprofit organizations invent new ways to raise revenue every year, as their mission is to generate ongoing funding for the causes they support. While the events might have different themes each year and new corporations may offer sponsorships, the typical sources for donated funds tend to stay pretty much the same over time.

A basic set of methods forms the backbone of nonprofit fundraising. The following offers a look at what makes up a healthy mix of income sources for non-profits. As with individuals and for-profit businesses, nonprofits should look to multiple income streams. When they do, they can remain healthy even if one or two of those income sources disappear or become less lucrative.

Although the total income for nonprofits comes from an assortment of sources, of which contributions are a part, individuals are the largest source of charitable donations for nonprofit charitable organizations.

ekkarill92 answered 2 years ago

Glass PLC is a manufacturing company and engaged in the business of wholesale and retail business....

Glass PLC is a manufacturing company and engaged in the business of wholesale and retail business. The following information has been provided for the quarter ended 31st October 2019. 1. Sales to Wholesale shops : Rs. 7,500,000 2. Sales to end customers : Rs. 6,000,000 3. NBT paid on imported raw materials : Rs. 35,000 4. NBT paid on services : Rs. 50,000 Compute the NBT payable for the quarter ended 31st October 2019 B. Explain the different between exempt...

Zear Company produces an electronic processor and sells it wholesale to manufacturing and retail outlets at...

Zear Company produces an electronic processor and sells it wholesale to manufacturing and retail outlets at $10 each. In Zear"s Year 8 fiscal period, it sold 700,000 processors. Fixed costs for Year 8 total $1,500,000, including interest costs on its 7.5% debentures. Variable costs are $4 per processor for materials. Zear employs about 20 hourly paid plant employees, each earning $35,000 in Year 8. Zear is currently confronting labor negotiations. The plant employees are requesting substantial increases in hourly wages....

McHale Company does business in two customer segments, Retail and Wholesale. The following annual revenue information...

McHale Company does business in two customer segments, Retail and Wholesale. The following annual revenue information was determined from the accounting system's invoice information: 20Y5 20Y4 Retail $281,820 $268,400 Wholesale 147,576 171,600 Total revenue $429,396 $440,000 Prepare a horizontal analysis of the segments. Round percentages to one decimal place. Enter negative values as negative numbers. McHale Company Horizontal Analysis For the Years 20Y4 and 20Y5 20Y5 20Y4 Difference - Amount Difference - Percent Retail $281,820 $268,400 $ % Wholesale 147,576...

A retail company receives most of its revenue from credit or debit card transactions or payments...

A retail company receives most of its revenue from credit or debit card transactions or payments by check. Funds received from credit and debit card transactions automatically deposit in interest bearing accounts. However, the company does receive some cash payments from customers each day. These cash receipts total $7,250,000 annually. The company makes no cash payments to its suppliers or creditors. Money held in the cash account earns no interest. The company estimates that the transaction cost of moving funds...

Internal Controls for Cash Received from Retail Sales Dunn Company operates a retail department store. Most...

Internal Controls for Cash Received from Retail Sales Dunn Company operates a retail department store. Most customers pay cash for their purchases. Edwards has asked you to help it design procedures for processing cash received from customers for cash sales. Briefly describe the procedures that should be used in each of the following departments: a. Retail sales departments b. Retail sales supervisor c. Treasurer’s department d. Controller’s department

Pardon Company, a retail entity makes all of its sales to customers on account and purchases...

Pardon Company, a retail entity makes all of its sales to customers on account and purchases 100% of its Merchandise Inventory on account from vendor, Power Company. Pardon provides you with the following selected account balances all of which are normal: 12/31/2018 12/31/2019 Accounts Receivable $32,000 $28,000 Merchandise Inventory 70,000 82,000 Prepaid Insurance Expense 6,500 5,800 Supplies 12,000 9,000 Equipment 130,000 115,000 Accumulated Depreciation 78,000 86,000 Accounts Payable- Power Company 26,000 40,000 Salaries Payable 3,200 5,400 Sales Revenue $615,000 Gain...

25. Revenue recognition is a major accounting challenge. Most industrial and retail firms recognize revenue as...

25. Revenue recognition is a major accounting challenge. Most industrial and retail firms recognize revenue as earned at the point of sale. More generally, according to IAS 18, revenue from the sale of goods should be recognized when the significant risks and rewards of ownership have been transferred to the buyer, the seller loses control over the items, the revenue and related costs can be measured reliably, and collection is reasonably assured. Revenue from services and long-term contracts can be...

1.Merchandising businesses generate revenue by selling goods. include wholesale and retail companies. manufacture the goods that...

1.Merchandising businesses generate revenue by selling goods. include wholesale and retail companies. manufacture the goods that they sell. generate revenue by selling goods and include wholesale and retail companies. 2. A retail company sells goods primarily to other businesses. manufacturing firms. the final consumer. other businesses and the final consumer. 3.Merchandising businesses manufacture the goods they sell. generate revenue primarily by providing services to customers. buy the merchandise they sell from suppliers. include dry cleaning companies and law firms. 4.A...

James and Katie will be auditing the revenue account for their retail client, Go Big Tires....

James and Katie will be auditing the revenue account for their retail client, Go Big Tires. They disagree about how to test the occurrence assertion for the revenue account. James thinks they should use Procedure A, while Katie thinks Procedure B is appropriate. A. Select a sample of sales from the sales journal and agree the details in the journal to the invoices sent to customers, shipping documents, and customer orders. B. Select a sample of invoices sent to customers,...

AP9.2 James and Katie will be auditing the revenue account for their retail client, Go Big...

AP9.2 James and Katie will be auditing the revenue account for their retail client, Go Big Tires. They disagree about how to test the occurrence assertion for the revenue account. James thinks they should use Procedure A, while Katie thinks Procedure B is appropriate. A. Select a sample of sales from the sales journal and agree the details in the journal to the invoices sent to customers, shipping documents, and customer orders. B. Select a sample of invoices sent to...

Question