Legal Influences
Do we have too many laws? Does the existence of so many laws and regulations hinder or help American Business today. Feel free to give examples of some “stupid” laws! Have fun with this discussion!
Unions and Video Surfing!
Please go to You Tube, bing.com videos, or any Video sharing web site and add the Key Word: "Unions”
Find a video that interests you of the thousands that are on the net on any aspect on Unions
Watch the Video that you selected and take notes on what you viewed.
1 In a paper of at least two and not more than three, double spaced pages, no Title Page, tell me what video you viewed.
2 Make sure that you provide the Internet address and the Title on what you viewed.
3 Explain what you viewed and what you learned.
4 You may supplement your viewing with any other information or your opinion.
ENJOY YOUR SURFING!
Chapter 1
26. LO.4, 5 A question on a state income tax return asks the taxpayer if he or she made any out-of-state Internet or mail-order catalog purchases during the year. The question requires a yes or no answer, and if the taxpayer answers yes, the amount of such purchases is to be listed.
a. Does such an inquiry have any relevance to the state income tax? If not, why is it being asked?
b. Your client, Harriet, wants to leave the question unanswered. As the preparer of her return, how do your respond?
36.LO.5 Assess the probability of an audit in each of the following independent situations:
a. As a result of a jury trial, Linda was awarded $3.5 million because of job discrimination. The award included $3 million for punitive damages.
b. Mel operates a combination check-cashing service and pawnshop.
c. Jayden, a self-employed trial lawyer, routinely files a Schedule C (Form 1040) that, due to large dedcti8ons, reports little (if any) profit from his practice.
d. Bernard is the head server at an upscale restaurant and recently paid $1.8 million for a residence in an exclusive gated community.
42.LO.5, 6 On a Federal income tax return filed five years ago, any inadvertently omitted a large amount of gross income.
a. Andy seeks your advice as to whether the IRS is barred from assessing additional income tax in the event he is audited. What is your advice?
b. Would your advice differ if you were the person who prepared the return in question? Explain.
c. Suppose Andy asks you to prepare his current year’s return. Would you do so? Explain.
50. LO.7, 8 Discuss the probable justification for each of the following aspects of the tax law:
a. A tax credit is allowed for amounts spent to furnish care for minor children while the parents work.
b. Deductions for interest on home mortgage and property taxes on personal residence.
c. The income splitting benefits of filing a joint return.
d. Gambling losses in excess of gambling gains.
e. Net operating losses of a current year can be carried back to profitable years.
f. A taxpayer who sells pr ...
Multiple choice Tax QuestionsPeter and Eileen are marrie.docxadelaidefarmer322
Multiple choice Tax Questions
Peter and Eileen are married and live in a common law state. Peter wants to make gifts to their five children in 2009. What is the maximum amount of the annual exclusion they will be allowed for these gifts?
A) $60,000.
B) $65,000.
C) $120,000.
D) $130,000.
E) None of the above.
2.
Which is a primary source of tax law?
A) J. W. Yarbo v. Comm., 737 F.2d 479 (CA-5, 1984).
B) Article by a Federal judge in Harvard Law Review.
C) Technical Advice Memoranda.
D) Letter ruling.
E) All of the above are primary sources.
3.
Jerry purchased a U.S. Series EE savings bond for $279. The bond has a maturity value in 10 years of $500 and yields 6% interest. This is the first Series EE bond that Jerry has ever owned.
A) Jerry must report the interest income each year using the original issue discount rules.
B) Jerry can report all of the $221 interest income in the year the bond matures.
C) The interest on the bonds is exempt from Federal income tax.
D) Jerry must report ($500 – $279)/10 = $22.10 interest income each year he owns the bond.
E) None of the above.
4.
Home Office, Inc., leased a copying machine to a new customer on December 27, 2009. The machine was to rent for $500 per month for a period of 36 months beginning January 1, 2010. The customer was required to pay the first and last month’s rent at the time the lease was signed. The customer also was required to pay an $800 damage deposit. Home Office must recognize as income for the lease:
A) $1,000 in 2009, if Home Office is an accrual basis taxpayer.
B) $1,000 in 2010, if Home Office is a cash basis taxpayer.
C) $1,800 in 2009, if Home Office is a cash basis taxpayer.
D) $0 in 2009, if Home Office is an accrual basis taxpayer.
E) None of the above.
5.
Kathy operates a gym. She sells memberships that entitle the member to use the facilities at any time. A one-year membership costs $360 ($360/12 = $30 per month); a two-year membership costs $600 ($600/24 = $25 per month). Cash payment is required at the beginning of the membership period.
On July 1, 2009, Kathy sold a one-year membership and a two-year membership.
I.
If Kathy is a cash basis taxpayer, her 2009 gross income from the contracts is $960 ($360 + $600).
II.
If Kathy is an accrual basis taxpayer, her 2009 gross income from the contracts is $330 [(6/12 $360) + (6/24 $600)].
III.
If Kathy is an accrual basis taxpayer, her 2010 gross income from the contracts is $630 [(6/12)($360) + $450].
A) Only I is true.
B) Only I and II are true.
C) Only II and III are true.
D) I, II, and III are true.
E) None of the above.
6.
Ben was diagnosed with a terminal illness. His physician estimated that Ben would live no more than 18 months.
After he received the doctor’s diagnosis, Ben cashed in his life insurance policy to pay some medical bills.
Ben had paid $12,000 in premiums on the policy, and he collected $50,000, the cash surrender value .
Peter and Eileen are married and live in a common law state. Peter.docxherbertwilson5999
Peter and Eileen are married and live in a common law state. Peter wants to make gifts to their five children in 2009. What is the maximum amount of the annual exclusion they will be allowed for these gifts?
A) $60,000.
B) $65,000.
C) $120,000.
D) $130,000.
E) None of the above.
2.
Which is a primary source of tax law?
A) J. W. Yarbo v. Comm., 737 F.2d 479 (CA-5, 1984).
B) Article by a Federal judge in Harvard Law Review.
C) Technical Advice Memoranda.
D) Letter ruling.
E) All of the above are primary sources.
3.
Jerry purchased a U.S. Series EE savings bond for $279. The bond has a maturity value in 10 years of $500 and yields 6% interest. This is the first Series EE bond that Jerry has ever owned.
A) Jerry must report the interest income each year using the original issue discount rules.
B) Jerry can report all of the $221 interest income in the year the bond matures.
C) The interest on the bonds is exempt from Federal income tax.
D) Jerry must report ($500 – $279)/10 = $22.10 interest income each year he owns the bond.
E) None of the above.
4.
Home Office, Inc., leased a copying machine to a new customer on December 27, 2009. The machine was to rent for $500 per month for a period of 36 months beginning January 1, 2010. The customer was required to pay the first and last month’s rent at the time the lease was signed. The customer also was required to pay an $800 damage deposit. Home Office must recognize as income for the lease:
A) $1,000 in 2009, if Home Office is an accrual basis taxpayer.
B) $1,000 in 2010, if Home Office is a cash basis taxpayer.
C) $1,800 in 2009, if Home Office is a cash basis taxpayer.
D) $0 in 2009, if Home Office is an accrual basis taxpayer.
E) None of the above.
5.
Kathy operates a gym. She sells memberships that entitle the member to use the facilities at any time. A one-year membership costs $360 ($360/12 = $30 per month); a two-year membership costs $600 ($600/24 = $25 per month). Cash payment is required at the beginning of the membership period. On July 1, 2009, Kathy sold a one-year membership and a two-year membership.
I. If Kathy is a cash basis taxpayer, her 2009 gross income from the contracts is $960 ($360 + $600).
II. If Kathy is an accrual basis taxpayer, her 2009 gross income from the contracts is $330 [(6/12 $360) + (6/24 $600)].
III. If Kathy is an accrual basis taxpayer, her 2010 gross income from the contracts is $630 [(6/12)($360) + $450].
A) Only I is true.
B) Only I and II are true.
C) Only II and III are true.
D) I, II, and III are true.
E) None of the above.
6.
Ben was diagnosed with a terminal illness. His physician estimated that Ben would live no more than 18 months. After he received the doctor’s diagnosis, Ben cashed in his life insurance policy to pay some medical bills. Ben had paid $12,000 in premiums on the policy, and he collected $50,000, the cash surrender value of the policy. Henry enjoys excellent health, but he cashed in his life insur.
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1. In 2016, Sayers, who is single, gave an outright gift of $50,000 to a friend, Johnson, who needed the money to pay medical expenses. In filing the 2016 gift tax return, Sayers was entitled to a maximum exclusion of
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1. In 2016, Sayers, who is single, gave an outright gift of $50,000 to a friend, Johnson, who needed the money to pay medical expenses. In filing the 2016 gift tax return, Sayers was entitled to a maximum exclusion of
2. On July 1, 2016, Vega made a transfer by gift in an amount sufficient to require the filing of a gift tax return. Vega was still alive in 2016.
Multiple choice Tax QuestionsPeter and Eileen are marrie.docxadelaidefarmer322
Multiple choice Tax Questions
Peter and Eileen are married and live in a common law state. Peter wants to make gifts to their five children in 2009. What is the maximum amount of the annual exclusion they will be allowed for these gifts?
A) $60,000.
B) $65,000.
C) $120,000.
D) $130,000.
E) None of the above.
2.
Which is a primary source of tax law?
A) J. W. Yarbo v. Comm., 737 F.2d 479 (CA-5, 1984).
B) Article by a Federal judge in Harvard Law Review.
C) Technical Advice Memoranda.
D) Letter ruling.
E) All of the above are primary sources.
3.
Jerry purchased a U.S. Series EE savings bond for $279. The bond has a maturity value in 10 years of $500 and yields 6% interest. This is the first Series EE bond that Jerry has ever owned.
A) Jerry must report the interest income each year using the original issue discount rules.
B) Jerry can report all of the $221 interest income in the year the bond matures.
C) The interest on the bonds is exempt from Federal income tax.
D) Jerry must report ($500 – $279)/10 = $22.10 interest income each year he owns the bond.
E) None of the above.
4.
Home Office, Inc., leased a copying machine to a new customer on December 27, 2009. The machine was to rent for $500 per month for a period of 36 months beginning January 1, 2010. The customer was required to pay the first and last month’s rent at the time the lease was signed. The customer also was required to pay an $800 damage deposit. Home Office must recognize as income for the lease:
A) $1,000 in 2009, if Home Office is an accrual basis taxpayer.
B) $1,000 in 2010, if Home Office is a cash basis taxpayer.
C) $1,800 in 2009, if Home Office is a cash basis taxpayer.
D) $0 in 2009, if Home Office is an accrual basis taxpayer.
E) None of the above.
5.
Kathy operates a gym. She sells memberships that entitle the member to use the facilities at any time. A one-year membership costs $360 ($360/12 = $30 per month); a two-year membership costs $600 ($600/24 = $25 per month). Cash payment is required at the beginning of the membership period.
On July 1, 2009, Kathy sold a one-year membership and a two-year membership.
I.
If Kathy is a cash basis taxpayer, her 2009 gross income from the contracts is $960 ($360 + $600).
II.
If Kathy is an accrual basis taxpayer, her 2009 gross income from the contracts is $330 [(6/12 $360) + (6/24 $600)].
III.
If Kathy is an accrual basis taxpayer, her 2010 gross income from the contracts is $630 [(6/12)($360) + $450].
A) Only I is true.
B) Only I and II are true.
C) Only II and III are true.
D) I, II, and III are true.
E) None of the above.
6.
Ben was diagnosed with a terminal illness. His physician estimated that Ben would live no more than 18 months.
After he received the doctor’s diagnosis, Ben cashed in his life insurance policy to pay some medical bills.
Ben had paid $12,000 in premiums on the policy, and he collected $50,000, the cash surrender value .
Peter and Eileen are married and live in a common law state. Peter.docxherbertwilson5999
Peter and Eileen are married and live in a common law state. Peter wants to make gifts to their five children in 2009. What is the maximum amount of the annual exclusion they will be allowed for these gifts?
A) $60,000.
B) $65,000.
C) $120,000.
D) $130,000.
E) None of the above.
2.
Which is a primary source of tax law?
A) J. W. Yarbo v. Comm., 737 F.2d 479 (CA-5, 1984).
B) Article by a Federal judge in Harvard Law Review.
C) Technical Advice Memoranda.
D) Letter ruling.
E) All of the above are primary sources.
3.
Jerry purchased a U.S. Series EE savings bond for $279. The bond has a maturity value in 10 years of $500 and yields 6% interest. This is the first Series EE bond that Jerry has ever owned.
A) Jerry must report the interest income each year using the original issue discount rules.
B) Jerry can report all of the $221 interest income in the year the bond matures.
C) The interest on the bonds is exempt from Federal income tax.
D) Jerry must report ($500 – $279)/10 = $22.10 interest income each year he owns the bond.
E) None of the above.
4.
Home Office, Inc., leased a copying machine to a new customer on December 27, 2009. The machine was to rent for $500 per month for a period of 36 months beginning January 1, 2010. The customer was required to pay the first and last month’s rent at the time the lease was signed. The customer also was required to pay an $800 damage deposit. Home Office must recognize as income for the lease:
A) $1,000 in 2009, if Home Office is an accrual basis taxpayer.
B) $1,000 in 2010, if Home Office is a cash basis taxpayer.
C) $1,800 in 2009, if Home Office is a cash basis taxpayer.
D) $0 in 2009, if Home Office is an accrual basis taxpayer.
E) None of the above.
5.
Kathy operates a gym. She sells memberships that entitle the member to use the facilities at any time. A one-year membership costs $360 ($360/12 = $30 per month); a two-year membership costs $600 ($600/24 = $25 per month). Cash payment is required at the beginning of the membership period. On July 1, 2009, Kathy sold a one-year membership and a two-year membership.
I. If Kathy is a cash basis taxpayer, her 2009 gross income from the contracts is $960 ($360 + $600).
II. If Kathy is an accrual basis taxpayer, her 2009 gross income from the contracts is $330 [(6/12 $360) + (6/24 $600)].
III. If Kathy is an accrual basis taxpayer, her 2010 gross income from the contracts is $630 [(6/12)($360) + $450].
A) Only I is true.
B) Only I and II are true.
C) Only II and III are true.
D) I, II, and III are true.
E) None of the above.
6.
Ben was diagnosed with a terminal illness. His physician estimated that Ben would live no more than 18 months. After he received the doctor’s diagnosis, Ben cashed in his life insurance policy to pay some medical bills. Ben had paid $12,000 in premiums on the policy, and he collected $50,000, the cash surrender value of the policy. Henry enjoys excellent health, but he cashed in his life insur.
For more course tutorials visit
www.newtonhelp.com
1. In 2016, Sayers, who is single, gave an outright gift of $50,000 to a friend, Johnson, who needed the money to pay medical expenses. In filing the 2016 gift tax return, Sayers was entitled to a maximum exclusion of
For more course tutorials visit
www.tutorialrank.com
1. In 2016, Sayers, who is single, gave an outright gift of $50,000 to a friend, Johnson, who needed the money to pay medical expenses. In filing the 2016 gift tax return, Sayers was entitled to a maximum exclusion of
2. On July 1, 2016, Vega made a transfer by gift in an amount sufficient to require the filing of a gift tax return. Vega was still alive in 2016.
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1. Amy works as an auditor for a large major CPA firm. During the months of September through November of each year, she is permanently assigned to the team auditing Garnet Corporation. As a result, every day she drives from her home to Garnet and returns home after work. Mileage is as follows:
Acc 307 Enthusiastic Study / snaptutorial.comGeorgeDixon35
1. Amy works as an auditor for a large major CPA firm. During the months of September through November of each year, she is permanently assigned to the team auditing Garnet Corporation. As a result, every day she drives from her home to Garnet and returns home after work. Mileage is as follows:
For more classes visit
www.snaptutorial.com
1. Amy works as an auditor for a large major CPA firm. During the months of September through November of each year, she is permanently assigned to the team auditing Garnet Corporation. As a result, every day she drives from her home to Garnet and returns home after work. Mileage is as follows:
1. Amy works as an auditor for a large major CPA firm. During the months of September through November of each year, she is permanently assigned to the team auditing Garnet Corporation. As a result, every day she drives from her home to Garnet and returns home after work. Mileage is as follows:
For more classes visit
www.snaptutorial.com
ACC 565 Final Exam Guide
Question 1
Barbara sells a house with an FMV of $170,000 to her daughter for $120,000. From this transaction, Barbara is deemed to have made a gift (before the annual exclusion) of
Question 2
1. Which, if either, of the following statements is or are true .docxjackiewalcutt
1. Which, if either, of the following statements is or are true?
I. The co-ownership of business property, where only minimal services are provided by the owners for their tenants, generally constitutes a partnership for federal income tax purposes.
II. As a general rule, when a person obtains an interest in partnership capital through rendition of services, compensation (ordinary) income is recognized to the extent of the fair market value of the interest received.
a. I only.
b. II only.
c. Both I and II.
d. Neither I nor II.
2. Which, if either, of the following statements is or are true?
I. On the formation of a partnership, the contribution by one partner of encumbered property to a partnership when other partners contribute only cash will not result in taxation unless the total amount of the debt relief exceeds the contributor’s basis in the contributed property.
II. The contribution of accounts receivable to a partnership results in immediate taxation to the contributor to the extent of the fair market value of the receivables on date of contribution.
a. I only.
b. II only.
c. Both I and II.
d. Neither I nor II.
3. Under the check-the-box regulations a corporation incorporated under the law of any state can
a. elect to be taxed as a partnership
b. elect to be taxed as a limited liability company
c. elect to be taxed as a sole proprietor if there is only one shareholder
d. not be taxed as anything other than a corporation
4. On January 2, 2013, Henry, Cabot, and Lodge formed a three-person equal partnership with Henry and Cabot each contributing $100,000 and Lodge contributing securities with a basis to him of $60,000 and a fair market value of $100,000. On February 28, 2013, the partnership sold the securities for $130,000. The amount of the gain to be allocated to Lodge is:
a. $70,000
b. $50,000
c. $30,000
d. $23,333
e. $10,000
5. Malcolm, a dealer in securities, is a 60 percent owner of the Real Partnership which on July 1, 2012, sold to him Acme Securities which it had held as an investment for three years. The basis of the securities to the Real Partnership was $40,000, and the sales price to Malcolm was $100,000. On his 2012 federal income tax return, Malcolm should report income in the amount and character of:
a. $36,000 long-term capital gain
b. $36,000 short-term capital gain
c. $36,000 ordinary income
d. $18,000 long-term capital gain
e. $18,100 ordinary income
6. Bobbie and Fran are partners in the Quick Freeze partnership, owning respectively 60 percent and 40 percent of the partnership's capital and profits. At the beginning of the 2012, their bases in their partnership interests were $18,000 and $12,000, respectively. During the year, the partnership had the following items of income: partnership ordinary income, $30,000; long-term capital gains, $10,000; and tax-exempt income from municipal bond interest, $5,000. The partnership distributed $8,000 to Bobbie and $12,000 to Fran. Their respective bases ...
ACC 547 Effective Communication - tutorialrank.comBartholomew4
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1. In 2016, Sayers, who is single, gave an outright gift of $50,000 to a friend, Johnson, who needed the money to pay medical expenses. In filing the 2016 gift tax return, Sayers was entitled to a maximum exclusion of
2. On July 1, 2016, Vega made a transfer by gift
Problems – 5 points each1. Greg and Justin are forming the G.docxwkyra78
Problems – 5 points each
1. Greg and Justin are forming the GJ Partnership. Greg contributes $500,000 cash and Justin contributes nondepreciable property with an adjusted basis of $200,000 and a fair market value of $550,000. The property is subject to a $50,000 liability, which is also transferred into the partnership and is shared equally by the partners for basis purposes. Greg and Justin share in all partnership profits equally except for any precontribution gain, which must be allocated according to the statutory rules for built-in gain allocations.
a. What is Justin’s adjusted tax basis for his partnership interest immediately after the partnership is formed?
b. What is the partnership’s adjusted basis for the property contributed by Justin?
c. If the partnership sells the property contributed by Justin for $600,000, how is the tax gain allocated between the partners?
2. The LN partnership reported the following items of income and deduction during the current tax year: revenues, $200,000; cost of goods sold, $80,000; tax-exempt interest income, $5,000; salaries to employees, $50,000; and long-term capital gain, $5,000. In addition, the partnership distributed $10,000 of cash to 50% partner Nina and $20,000 of cash to 50% partner Len. What is Nina’s share of ordinary partnership income and separately stated items?
3. In the current year, Derek formed an equal partnership with Cody. Derek contributed land with an adjusted basis of $110,000 and a fair market value of $200,000. Derek also contributed $50,000 cash to the partnership. Cody contributed land with an adjusted basis of $80,000 and a fair market value of $230,000. The land contributed by Derek was encumbered by a $60,000 nonrecourse debt. The land contributed by Cody was encumbered by $40,000 of nonrecourse debt. Assume the partners share debt equally. Immediately after the formation, what is the basis of Cody’s partnership interest?
4. Janet Wang is a 50% owner of a calendar year S corporation. During 2012, the S corporation has ordinary income of $175,000, short-term capital gain of $94,000, tax-exempt income of $22,000, and a charitable contribution of $18,000. What S corporation items must Janet report in 2012?
5. Bidden, Inc., a calendar year S corporation, incurred the following items:
Sales
$130,000
Depreciation recapture income
12,000
Short-term capital gain
30,000
Cost of goods sold
(42,000)
Municipal bond interest income
7,000
Administrative expenses
(15,000)
Depreciation expense
(17,000)
Charitable contributions
(14,000)
Calculate Bidden’s nonseparately computed income.
6. During 2012, Ms. Rasic, the sole shareholder of a calendar year S corporation, received a distribution of $16,000. On December 31, 2011, Ms. Rasic’s stock basis was $4,000. The corporation earned $11,000 ordinary income during the year. Calculate the amount and type of income Ms. Rasic recognizes in 2012, assuming there is no C ...
I am showing below the proof of breakeven, which is fixed costs .docxTatianaMajor22
I am showing below the proof of breakeven, which is fixed costs/ contribution margin.
We start with the definition of breakeven and proceed using elementary algebra to derive the formula. Breakeven is a number and is created by knowing fixed and variable costs, and the retail sales price. It is thus not a point of discussion but is based on the assumptions of these variables.
Proof of Breakeven
Definition of BreakevenVolume: Total Revenue = Total Expenses
Definition
1.Total Revenue = Total Expenses
Breakdown of Definition
2. Retail Price * Volume = Fixed Expenses + Variable Expenses
Further Analysis
3. Retail Price * Volume = Fixed Expenses + (Volume * Unit Variable Expenses)
Subtract (Volume * Unit Variable Expenses) from both sides
4. Fixed Expenses = (Retail Price * Volume) — (Volume * Unit Variable Expenses)
Factor
5. Fixed Expenses = Volume * (Retail Price – Unit Variable Expenses)
Divide both sides by (Retail Price – Unit Variable Expenses)
6. Volume = Fixed Expenses
(Retail Price – Unit Variable Expenses)
Substitution based on Definition
7. Since (Retail Price — Unit Variable Expenses) is called Contribution Margin,
Therefore:
Breakeven Volume = Fixed Expenses / Contribution Margin
NAME_________________________________________________ DATE ____________
1. Explain some of the economic, social, and political considerations involved in changing the tax law.
2. Explain the difference between a Partnership, a Limited Liability Partnership (LLP) and a Limited Liability Company (LLC). In each structure who has liability?
3. How is “control” defined for purposes of Section 351 of the IRS Code?
4. What are the advantages and disadvantages of using debt in a firm’s capital structure?
5. Under what circumstances is a corporation’s assumption of liabilities considered boot in a Section 351exchange?
6. What are the tax consequences for the transferor and transferee when property is transferred to a newly created corporation in an exchange qualifying as nontaxable under Section 351?
7. Why are corporations allowed a dividend-received deduction? What dividends qualify for this special deduction?
8. Provide 3 examples of a Constructive Dividend. Are these Constructive Dividends taxable?
9. Discuss the tax consequences of a new Partnership Formation and give details to gain and losses and basis?
10. Provide 2 similarities and 2 differences when comparing Sections 351 and 721 of the IRS Code.
11. What is the difference between inside and outside basis with a partnership?
12. ABC Partnership distributes $12,000 of taxable income to partner Bob and $24,000 of tax-exempt income to Partner Bob. As a result of these two distributions, how does Bob’s basis change?
13. On January 1, Katie pays $2,000 for a 10% capital, profits, and loss interest in a partnership.
1. Which, if either, of the following statements is or ar.docxjackiewalcutt
1. Which, if either, of the following statements is or are true?
I. The co-ownership of business property, where only minimal services are provided by the owners for their tenants, generally constitutes a partnership for federal income tax purposes.
II. As a general rule, when a person obtains an interest in partnership capital through rendition of services, compensation (ordinary) income is recognized to the extent of the fair market value of the interest received.
a. I only.
b. II only.
c. Both I and II.
d. Neither I nor II.
2. Which, if either, of the following statements is or are true?
I. On the formation of a partnership, the contribution by one partner of encumbered property to a partnership when other partners contribute only cash will not result in taxation unless the total amount of the debt relief exceeds the contributor’s basis in the contributed property.
II. The contribution of accounts receivable to a partnership results in immediate taxation to the contributor to the extent of the fair market value of the receivables on date of contribution.
a. I only.
b. II only.
c. Both I and II.
d. Neither I nor II.
3. Under the check-the-box regulations a corporation incorporated under the law of any state can
a. elect to be taxed as a partnership
b. elect to be taxed as a limited liability company
c. elect to be taxed as a sole proprietor if there is only one shareholder
d. not be taxed as anything other than a corporation
4. On January 2, 2013, Henry, Cabot, and Lodge formed a three-person equal partnership with Henry and Cabot each contributing $100,000 and Lodge contributing securities with a basis to him of $60,000 and a fair market value of $100,000. On February 28, 2013, the partnership sold the securities for $130,000. The amount of the gain to be allocated to Lodge is:
a. $70,000
b. $50,000
c. $30,000
d. $23,333
e. $10,000
5. Malcolm, a dealer in securities, is a 60 percent owner of the Real Partnership which on July 1, 2012, sold to him Acme Securities which it had held as an investment for three years. The basis of the securities to the Real Partnership was $40,000, and the sales price to Malcolm was $100,000. On his 2012 federal income tax return, Malcolm should report income in the amount and character of:
a. $36,000 long-term capital gain
b. $36,000 short-term capital gain
c. $36,000 ordinary income
d. $18,000 long-term capital gain
e. $18,100 ordinary income
6. Bobbie and Fran are partners in the Quick Freeze partnership, owning respectively 60 percent and 40 percent of the partnership's capital and profits. At the beginning of the 2012, their bases in their partnership interests were $18,000 and $12,000, respectively. During the year, the partnership had the following items of income: partnership ordinary income, $30,000; long-term capital gains, $10,000; and tax-exempt income from municipal bond interest, $5,000. The partnership distri ...
ACC 547 OUTLET Become Exceptional--acc547outlet.comkopiko121
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1. In 2016, Sayers, who is single, gave an outright gift of $50,000 to a friend, Johnson, who needed the money to pay medical expenses. In filing the 2016 gift tax return
ACC 547 OUTLET Education for Service--acc547outlet.comkopiko57
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1. In 2016, Sayers, who is single, gave an outright gift of $50,000 to a friend, Johnson, who needed the money to pay medical expenses. In filing the 2016 gift tax return
Finc 430Quiz 1 will be posted on Friday the 13th, but will need.docxvoversbyobersby
Finc 430:
Quiz 1 will be posted on Friday the 13th, but will need to be due by Sunday morning at 7am.
Discussion:
Select a publicly traded company, analyze the company's free cash flow. Why is free cash flow important to the company and any potential investor. Various sources on the Internet should provide you with the information as well as the company's financial statements.
Finc 355:
Discussion:
Pick one of the following assets and discuss who you want to leave it to (including charities) and how to do it best in terms of taxes, probate, liability to your estate and those who inherit: (a) house (b) IRA (c) life insurance (d) bonds (e) appreciated stock (f) piece of valuable art (g) cash (h) family business (i) royalties from an oil trust (j) savings bonds series EE (k) personal property ... OR discuss strategies to leave gifts to (a) children per stirpes or per capita (b) to your grandkids or (c) to your wife.
Do any of you have and employer provided retirement plan? What are the benefits? How would you rate it? Is it portable? How does it affect your taxes?
Quiz 2
FINC355 Professor Goohs – Retirement and Estate Planning
Quiz 2
NAME ____________________________ Due Date: June 15, 2014 (in assignment folder)
Please provide name above and provide answers in the chart below and submitting homework in MS Word in assignment folder for Quiz 2. (I’ll deduct points if you don’t).
Problem
Answer
Example
A
1
21
2
22
3
23
4
24
5
25
6
26
7
27
8
28
9
29
10
30
11
31
12
32
13
33
14
34
15
35
16
36
17
37
18
38
19
39
20
40
1.
Which of the following represents both the age after which an individual may no longer establish a non-rollover traditional IRA and the trigger point for beginning required distributions?
A. 65
B. 70½
C. 72½
D. 75
2. For individuals who have attained age 50 before the close of the tax year, what is the maximum dollar amount that may be contributed to a traditional IRA in 2013?
A. $3,000
B. $4,000
C. $5,000
D. $6,500
3. Pam wants to use money from a traditional IRA for a down payment to purchase a first home. How much can she withdraw from her IRA without having to pay the federal early distribution penalty?
A. $10,000
B. $12,500
C. $15,000
D. $20,000
4. Distributions from a traditional IRA cannot be made before the participant turns 59½ unless the IRA owner dies.
A. True
B. False
5. IRAs can be invested in a variety of investment vehicles, including mutual funds, stocks, bonds, and life insurance contracts.
A. True
B. False
6. Minnie and Micky Pluck are married, filing jointly in 2013. Minnie earns $60,000 a year and takes full advantage of her employer’s qualified retirement plan. Micky is not employed.
A. Micky can receive a full deduction for an IRA contribution
B. Micky can receive a partial deduction for an IRA contribution
C. both Micky and Minnie can make a nondeductible IRA contribution
D. Micky cannot make an IRA contribution
E. Minnie can make a nondeduc ...
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1. In 2016, Sayers, who is single, gave an outright gift of $50,000 to a friend, Johnson, who needed the money to pay medical expenses. In filing the 2016 gift tax return, Sayers was entitled to a maximum exclusion of
2. On July 1, 2016, Vega made a transfer by gift in an amount sufficient to require the filing of a gift tax return. Vega was still alive in 2016.
Answer the following questions in a minimum of 1-2 paragraphs ea.docxSHIVA101531
Answer the following questions in a minimum of
1-2 paragraphs
each. Be sure to explain your answers and give reasons for your views.
When you talk about the meaning of life, which sense of the term do you use-- external meaning or internal meaning?
What bearing, if any, does the ephemeral nature of our existence have on the question of whether life has meaning? Does the fact that we die negate the possibility of meaning in life?
Is Schopenhauer right about the meaninglessness of life? Does the wretchedness of our existence show that life has no meaning?
Note:
All journal entries must be submitted as attachments (
in Microsoft Word format
) in order to generate an originality report.
.
Answer the following questions using scholarly sources as references.docxSHIVA101531
Answer the following questions using scholarly sources as references. Add references at the end of the page.
Answer each question with at least 300 words counter.
1.What is your assessment of Frantz Fanon's argument that “The wealth of the imperialist nations is also our wealth”? Do you believe "developed nations" owe some form of reparations to colonized peoples?
2.How would you account for revolutionaries in Spain such as the CNT and FAI having more success than in other European countries leading up to 1936?
3.How you can you account for the outcome of the Russian Revolution?
4.Why do you think that acts of violence against tyrannical leaders in the era did not inspire the masses to rise up in revolution?
.
More Related Content
Similar to Legal InfluencesDo we have too many laws Does the existence o.docx
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1. Amy works as an auditor for a large major CPA firm. During the months of September through November of each year, she is permanently assigned to the team auditing Garnet Corporation. As a result, every day she drives from her home to Garnet and returns home after work. Mileage is as follows:
Acc 307 Enthusiastic Study / snaptutorial.comGeorgeDixon35
1. Amy works as an auditor for a large major CPA firm. During the months of September through November of each year, she is permanently assigned to the team auditing Garnet Corporation. As a result, every day she drives from her home to Garnet and returns home after work. Mileage is as follows:
For more classes visit
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1. Amy works as an auditor for a large major CPA firm. During the months of September through November of each year, she is permanently assigned to the team auditing Garnet Corporation. As a result, every day she drives from her home to Garnet and returns home after work. Mileage is as follows:
1. Amy works as an auditor for a large major CPA firm. During the months of September through November of each year, she is permanently assigned to the team auditing Garnet Corporation. As a result, every day she drives from her home to Garnet and returns home after work. Mileage is as follows:
For more classes visit
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ACC 565 Final Exam Guide
Question 1
Barbara sells a house with an FMV of $170,000 to her daughter for $120,000. From this transaction, Barbara is deemed to have made a gift (before the annual exclusion) of
Question 2
1. Which, if either, of the following statements is or are true .docxjackiewalcutt
1. Which, if either, of the following statements is or are true?
I. The co-ownership of business property, where only minimal services are provided by the owners for their tenants, generally constitutes a partnership for federal income tax purposes.
II. As a general rule, when a person obtains an interest in partnership capital through rendition of services, compensation (ordinary) income is recognized to the extent of the fair market value of the interest received.
a. I only.
b. II only.
c. Both I and II.
d. Neither I nor II.
2. Which, if either, of the following statements is or are true?
I. On the formation of a partnership, the contribution by one partner of encumbered property to a partnership when other partners contribute only cash will not result in taxation unless the total amount of the debt relief exceeds the contributor’s basis in the contributed property.
II. The contribution of accounts receivable to a partnership results in immediate taxation to the contributor to the extent of the fair market value of the receivables on date of contribution.
a. I only.
b. II only.
c. Both I and II.
d. Neither I nor II.
3. Under the check-the-box regulations a corporation incorporated under the law of any state can
a. elect to be taxed as a partnership
b. elect to be taxed as a limited liability company
c. elect to be taxed as a sole proprietor if there is only one shareholder
d. not be taxed as anything other than a corporation
4. On January 2, 2013, Henry, Cabot, and Lodge formed a three-person equal partnership with Henry and Cabot each contributing $100,000 and Lodge contributing securities with a basis to him of $60,000 and a fair market value of $100,000. On February 28, 2013, the partnership sold the securities for $130,000. The amount of the gain to be allocated to Lodge is:
a. $70,000
b. $50,000
c. $30,000
d. $23,333
e. $10,000
5. Malcolm, a dealer in securities, is a 60 percent owner of the Real Partnership which on July 1, 2012, sold to him Acme Securities which it had held as an investment for three years. The basis of the securities to the Real Partnership was $40,000, and the sales price to Malcolm was $100,000. On his 2012 federal income tax return, Malcolm should report income in the amount and character of:
a. $36,000 long-term capital gain
b. $36,000 short-term capital gain
c. $36,000 ordinary income
d. $18,000 long-term capital gain
e. $18,100 ordinary income
6. Bobbie and Fran are partners in the Quick Freeze partnership, owning respectively 60 percent and 40 percent of the partnership's capital and profits. At the beginning of the 2012, their bases in their partnership interests were $18,000 and $12,000, respectively. During the year, the partnership had the following items of income: partnership ordinary income, $30,000; long-term capital gains, $10,000; and tax-exempt income from municipal bond interest, $5,000. The partnership distributed $8,000 to Bobbie and $12,000 to Fran. Their respective bases ...
ACC 547 Effective Communication - tutorialrank.comBartholomew4
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1. In 2016, Sayers, who is single, gave an outright gift of $50,000 to a friend, Johnson, who needed the money to pay medical expenses. In filing the 2016 gift tax return, Sayers was entitled to a maximum exclusion of
2. On July 1, 2016, Vega made a transfer by gift
Problems – 5 points each1. Greg and Justin are forming the G.docxwkyra78
Problems – 5 points each
1. Greg and Justin are forming the GJ Partnership. Greg contributes $500,000 cash and Justin contributes nondepreciable property with an adjusted basis of $200,000 and a fair market value of $550,000. The property is subject to a $50,000 liability, which is also transferred into the partnership and is shared equally by the partners for basis purposes. Greg and Justin share in all partnership profits equally except for any precontribution gain, which must be allocated according to the statutory rules for built-in gain allocations.
a. What is Justin’s adjusted tax basis for his partnership interest immediately after the partnership is formed?
b. What is the partnership’s adjusted basis for the property contributed by Justin?
c. If the partnership sells the property contributed by Justin for $600,000, how is the tax gain allocated between the partners?
2. The LN partnership reported the following items of income and deduction during the current tax year: revenues, $200,000; cost of goods sold, $80,000; tax-exempt interest income, $5,000; salaries to employees, $50,000; and long-term capital gain, $5,000. In addition, the partnership distributed $10,000 of cash to 50% partner Nina and $20,000 of cash to 50% partner Len. What is Nina’s share of ordinary partnership income and separately stated items?
3. In the current year, Derek formed an equal partnership with Cody. Derek contributed land with an adjusted basis of $110,000 and a fair market value of $200,000. Derek also contributed $50,000 cash to the partnership. Cody contributed land with an adjusted basis of $80,000 and a fair market value of $230,000. The land contributed by Derek was encumbered by a $60,000 nonrecourse debt. The land contributed by Cody was encumbered by $40,000 of nonrecourse debt. Assume the partners share debt equally. Immediately after the formation, what is the basis of Cody’s partnership interest?
4. Janet Wang is a 50% owner of a calendar year S corporation. During 2012, the S corporation has ordinary income of $175,000, short-term capital gain of $94,000, tax-exempt income of $22,000, and a charitable contribution of $18,000. What S corporation items must Janet report in 2012?
5. Bidden, Inc., a calendar year S corporation, incurred the following items:
Sales
$130,000
Depreciation recapture income
12,000
Short-term capital gain
30,000
Cost of goods sold
(42,000)
Municipal bond interest income
7,000
Administrative expenses
(15,000)
Depreciation expense
(17,000)
Charitable contributions
(14,000)
Calculate Bidden’s nonseparately computed income.
6. During 2012, Ms. Rasic, the sole shareholder of a calendar year S corporation, received a distribution of $16,000. On December 31, 2011, Ms. Rasic’s stock basis was $4,000. The corporation earned $11,000 ordinary income during the year. Calculate the amount and type of income Ms. Rasic recognizes in 2012, assuming there is no C ...
I am showing below the proof of breakeven, which is fixed costs .docxTatianaMajor22
I am showing below the proof of breakeven, which is fixed costs/ contribution margin.
We start with the definition of breakeven and proceed using elementary algebra to derive the formula. Breakeven is a number and is created by knowing fixed and variable costs, and the retail sales price. It is thus not a point of discussion but is based on the assumptions of these variables.
Proof of Breakeven
Definition of BreakevenVolume: Total Revenue = Total Expenses
Definition
1.Total Revenue = Total Expenses
Breakdown of Definition
2. Retail Price * Volume = Fixed Expenses + Variable Expenses
Further Analysis
3. Retail Price * Volume = Fixed Expenses + (Volume * Unit Variable Expenses)
Subtract (Volume * Unit Variable Expenses) from both sides
4. Fixed Expenses = (Retail Price * Volume) — (Volume * Unit Variable Expenses)
Factor
5. Fixed Expenses = Volume * (Retail Price – Unit Variable Expenses)
Divide both sides by (Retail Price – Unit Variable Expenses)
6. Volume = Fixed Expenses
(Retail Price – Unit Variable Expenses)
Substitution based on Definition
7. Since (Retail Price — Unit Variable Expenses) is called Contribution Margin,
Therefore:
Breakeven Volume = Fixed Expenses / Contribution Margin
NAME_________________________________________________ DATE ____________
1. Explain some of the economic, social, and political considerations involved in changing the tax law.
2. Explain the difference between a Partnership, a Limited Liability Partnership (LLP) and a Limited Liability Company (LLC). In each structure who has liability?
3. How is “control” defined for purposes of Section 351 of the IRS Code?
4. What are the advantages and disadvantages of using debt in a firm’s capital structure?
5. Under what circumstances is a corporation’s assumption of liabilities considered boot in a Section 351exchange?
6. What are the tax consequences for the transferor and transferee when property is transferred to a newly created corporation in an exchange qualifying as nontaxable under Section 351?
7. Why are corporations allowed a dividend-received deduction? What dividends qualify for this special deduction?
8. Provide 3 examples of a Constructive Dividend. Are these Constructive Dividends taxable?
9. Discuss the tax consequences of a new Partnership Formation and give details to gain and losses and basis?
10. Provide 2 similarities and 2 differences when comparing Sections 351 and 721 of the IRS Code.
11. What is the difference between inside and outside basis with a partnership?
12. ABC Partnership distributes $12,000 of taxable income to partner Bob and $24,000 of tax-exempt income to Partner Bob. As a result of these two distributions, how does Bob’s basis change?
13. On January 1, Katie pays $2,000 for a 10% capital, profits, and loss interest in a partnership.
1. Which, if either, of the following statements is or ar.docxjackiewalcutt
1. Which, if either, of the following statements is or are true?
I. The co-ownership of business property, where only minimal services are provided by the owners for their tenants, generally constitutes a partnership for federal income tax purposes.
II. As a general rule, when a person obtains an interest in partnership capital through rendition of services, compensation (ordinary) income is recognized to the extent of the fair market value of the interest received.
a. I only.
b. II only.
c. Both I and II.
d. Neither I nor II.
2. Which, if either, of the following statements is or are true?
I. On the formation of a partnership, the contribution by one partner of encumbered property to a partnership when other partners contribute only cash will not result in taxation unless the total amount of the debt relief exceeds the contributor’s basis in the contributed property.
II. The contribution of accounts receivable to a partnership results in immediate taxation to the contributor to the extent of the fair market value of the receivables on date of contribution.
a. I only.
b. II only.
c. Both I and II.
d. Neither I nor II.
3. Under the check-the-box regulations a corporation incorporated under the law of any state can
a. elect to be taxed as a partnership
b. elect to be taxed as a limited liability company
c. elect to be taxed as a sole proprietor if there is only one shareholder
d. not be taxed as anything other than a corporation
4. On January 2, 2013, Henry, Cabot, and Lodge formed a three-person equal partnership with Henry and Cabot each contributing $100,000 and Lodge contributing securities with a basis to him of $60,000 and a fair market value of $100,000. On February 28, 2013, the partnership sold the securities for $130,000. The amount of the gain to be allocated to Lodge is:
a. $70,000
b. $50,000
c. $30,000
d. $23,333
e. $10,000
5. Malcolm, a dealer in securities, is a 60 percent owner of the Real Partnership which on July 1, 2012, sold to him Acme Securities which it had held as an investment for three years. The basis of the securities to the Real Partnership was $40,000, and the sales price to Malcolm was $100,000. On his 2012 federal income tax return, Malcolm should report income in the amount and character of:
a. $36,000 long-term capital gain
b. $36,000 short-term capital gain
c. $36,000 ordinary income
d. $18,000 long-term capital gain
e. $18,100 ordinary income
6. Bobbie and Fran are partners in the Quick Freeze partnership, owning respectively 60 percent and 40 percent of the partnership's capital and profits. At the beginning of the 2012, their bases in their partnership interests were $18,000 and $12,000, respectively. During the year, the partnership had the following items of income: partnership ordinary income, $30,000; long-term capital gains, $10,000; and tax-exempt income from municipal bond interest, $5,000. The partnership distri ...
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1. In 2016, Sayers, who is single, gave an outright gift of $50,000 to a friend, Johnson, who needed the money to pay medical expenses. In filing the 2016 gift tax return
ACC 547 OUTLET Education for Service--acc547outlet.comkopiko57
FOR MORE CLASSES VISIT
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1. In 2016, Sayers, who is single, gave an outright gift of $50,000 to a friend, Johnson, who needed the money to pay medical expenses. In filing the 2016 gift tax return
Finc 430Quiz 1 will be posted on Friday the 13th, but will need.docxvoversbyobersby
Finc 430:
Quiz 1 will be posted on Friday the 13th, but will need to be due by Sunday morning at 7am.
Discussion:
Select a publicly traded company, analyze the company's free cash flow. Why is free cash flow important to the company and any potential investor. Various sources on the Internet should provide you with the information as well as the company's financial statements.
Finc 355:
Discussion:
Pick one of the following assets and discuss who you want to leave it to (including charities) and how to do it best in terms of taxes, probate, liability to your estate and those who inherit: (a) house (b) IRA (c) life insurance (d) bonds (e) appreciated stock (f) piece of valuable art (g) cash (h) family business (i) royalties from an oil trust (j) savings bonds series EE (k) personal property ... OR discuss strategies to leave gifts to (a) children per stirpes or per capita (b) to your grandkids or (c) to your wife.
Do any of you have and employer provided retirement plan? What are the benefits? How would you rate it? Is it portable? How does it affect your taxes?
Quiz 2
FINC355 Professor Goohs – Retirement and Estate Planning
Quiz 2
NAME ____________________________ Due Date: June 15, 2014 (in assignment folder)
Please provide name above and provide answers in the chart below and submitting homework in MS Word in assignment folder for Quiz 2. (I’ll deduct points if you don’t).
Problem
Answer
Example
A
1
21
2
22
3
23
4
24
5
25
6
26
7
27
8
28
9
29
10
30
11
31
12
32
13
33
14
34
15
35
16
36
17
37
18
38
19
39
20
40
1.
Which of the following represents both the age after which an individual may no longer establish a non-rollover traditional IRA and the trigger point for beginning required distributions?
A. 65
B. 70½
C. 72½
D. 75
2. For individuals who have attained age 50 before the close of the tax year, what is the maximum dollar amount that may be contributed to a traditional IRA in 2013?
A. $3,000
B. $4,000
C. $5,000
D. $6,500
3. Pam wants to use money from a traditional IRA for a down payment to purchase a first home. How much can she withdraw from her IRA without having to pay the federal early distribution penalty?
A. $10,000
B. $12,500
C. $15,000
D. $20,000
4. Distributions from a traditional IRA cannot be made before the participant turns 59½ unless the IRA owner dies.
A. True
B. False
5. IRAs can be invested in a variety of investment vehicles, including mutual funds, stocks, bonds, and life insurance contracts.
A. True
B. False
6. Minnie and Micky Pluck are married, filing jointly in 2013. Minnie earns $60,000 a year and takes full advantage of her employer’s qualified retirement plan. Micky is not employed.
A. Micky can receive a full deduction for an IRA contribution
B. Micky can receive a partial deduction for an IRA contribution
C. both Micky and Minnie can make a nondeductible IRA contribution
D. Micky cannot make an IRA contribution
E. Minnie can make a nondeduc ...
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1. In 2016, Sayers, who is single, gave an outright gift of $50,000 to a friend, Johnson, who needed the money to pay medical expenses. In filing the 2016 gift tax return, Sayers was entitled to a maximum exclusion of
2. On July 1, 2016, Vega made a transfer by gift in an amount sufficient to require the filing of a gift tax return. Vega was still alive in 2016.
Similar to Legal InfluencesDo we have too many laws Does the existence o.docx (20)
Answer the following questions in a minimum of 1-2 paragraphs ea.docxSHIVA101531
Answer the following questions in a minimum of
1-2 paragraphs
each. Be sure to explain your answers and give reasons for your views.
When you talk about the meaning of life, which sense of the term do you use-- external meaning or internal meaning?
What bearing, if any, does the ephemeral nature of our existence have on the question of whether life has meaning? Does the fact that we die negate the possibility of meaning in life?
Is Schopenhauer right about the meaninglessness of life? Does the wretchedness of our existence show that life has no meaning?
Note:
All journal entries must be submitted as attachments (
in Microsoft Word format
) in order to generate an originality report.
.
Answer the following questions using scholarly sources as references.docxSHIVA101531
Answer the following questions using scholarly sources as references. Add references at the end of the page.
Answer each question with at least 300 words counter.
1.What is your assessment of Frantz Fanon's argument that “The wealth of the imperialist nations is also our wealth”? Do you believe "developed nations" owe some form of reparations to colonized peoples?
2.How would you account for revolutionaries in Spain such as the CNT and FAI having more success than in other European countries leading up to 1936?
3.How you can you account for the outcome of the Russian Revolution?
4.Why do you think that acts of violence against tyrannical leaders in the era did not inspire the masses to rise up in revolution?
.
Answer the following questions about this case studyClient .docxSHIVA101531
Answer the following questions about this case study:
Client with Pneumonia
Mr Edwards is a 75 yr old man who has a history of chronic obstructive pulmonary disease for the last two years. He continues to smoke ½ pack of cigarettes a day and does not participate in any exercise regimen and must do self-care activities slowly because of fatigue. He does not see any reason to increase his fluid intake. Presently, he is admitted for right upper lobe pneumonia and reports having an intermittent cough that produces thick, yellow sputum. He has more episodes of coughing when lying flat. He is married and his wife, Kathy is at his bedside.
Assessment
Mr Edwards SpO2 ranges from 78%-84%, and currently this am is 84%. His other vital signs are T 101.4F, HR 102/min, RR 30/min, BP 130/90mmHg. He is chilled and has had some diaphoresis. He reports that his ribs are sore and that his mouth is dry. Upon inspection, Mr Edwards mucous membranes are dry, as is his skin. Crackles are auscultated in the lower lobes bilaterally. His sputum is thick, and a yellow to yellow green in color. His health care provider has told him that if he gradually increases his exercise, drinks more fluids and stops smoking, his respiratory status will improve. He is lying in a semi-fowlers position in bed.
What relevant assessment data would you cluster to support a nursing diagnosis?
What priority nursing diagnosis would you identify for this patient? List five and give both Problem focused and Risk for nursing diagnoses.
What short term goal would you identify for the priority nursing diagnosis you identified? What long term goal would you identify?
List all the nursing interventions that you would perform for identified goals and nursing diagnosis. Give a rationale for each.
If you implemented all of the identified interventions, how would you evaluate that your interventions were successful and that the goals were met?
.
Answer the following questions using art vocabulary and ideas from L.docxSHIVA101531
Answer the following questions using art vocabulary and ideas from Lectures 2, 3, & 4 and Chapter 2 in your textbook. Please make
sure each answer is thoughtful, edited for grammar and spelling errors, and
at least
4-5
COMPLETE
sentences. Also, be as
specific as possible and
use examples to support EVERY statement. Write your answers in your own words (not taken
directly from your readings or outside resources).
A grading rubric is attached to this assignment.
**When answering the questions/prompts below,
write in PARAGRAPH FORM
(while making sure each question is addressed in your paragraph).
**Copy the photos of the artworks and the questions BEFORE each paragraph answer.
PROMPTS
:
1.
-Is Henri Matisse's 1947 print,
Icarus
,
an example of Representational Art, Abstracted Art, or Non-Representational Art? Explain your reasoning.
-Describe the use of
SHAPE
in Henri Matisse's 1947 print,
Icarus
. Are the shapes organic or geometric? Which ones? Describe how the shapes interact, or "touch" each other. Are the edges of the shapes soft or hard? Do they bump, blend, or overlap?
-Which theme(s) best describe the content of Matisse's
Icarus
?
Support your answers with specific examples from the painting.
2.
-Is Kathe Kollwitz' 1903 etching,
Mother with Dead Child
an example of Representational Art, Abstracted Art, or Non-Representational Art? Explain your reasoning.
-Describe the use of
LINE
in this print. What types of line (geometric, organic, implied) are present? What do you believe these lines express? Are there any contour lines? Hatching or cross-hatching? Where? In what direction(s) do the lines move?
-Which theme(s) best describe the content of Kollwitz'
Mother with Dead Child?
Support your answers with specific examples from the etching.
3.
-Is the
Colossal 8-feet-tall Olmec Head
(1500-300 BCE) an example of Representational Art, Abstracted Art, or Non-Representational Art? Explain your reasoning.
-Describe the
FORM/MASS
of the Olmec Head. Address the size, density, material(s) used, and how it may have interacted with it's original location.
-Is the sculpture an example of
Closed Form
or
Open Form
? Explain your answer.
-Which theme(s) best describe the content of the Olmec Heads? Support your answers with specific examples from the sculpture.
4.
-Is Jan van Eyck's 1434 oil painting,
The Arnolfi Portrait
,
an example of Representational Art, Abstracted Art, or Non-Representational Art? Explain your reasoning.
-Discuss the use of
TEXTURE
in van Eyck's painting. Does the work have actual/tactile texture, visual/simulated texture, or a combination of both? Explain your answer.
-Which theme(s) best describe the content of van Eyck's
The Arnolfi Portrait
? Support your answers with specific examples from the painting.
5.
Is George Caleb Bingham's 1845 painting,
Fur Traders Descending the Missouri
, an example of Representational Art, Abstracted Art, or Non-Represen.
Answer the following questions in a total of 3 pages (900 words). My.docxSHIVA101531
Answer the following questions in a total of 3 pages (900 words). My budget is between $50-60. Deadline is 5 hours
What, in your opinion, are the salient attributes of indigenous African religious cultures?
Do you feel western scholars were justified in tagging negative labels on African religions?
Would you say African religions are polytheistic because of the belief in numerous deities?
Describe the Core Elements of Yoruba or Fon Cosmology
.
Answer the following questions No single word responses (at lea.docxSHIVA101531
Answer the following questions: No single word responses (at least 70+ words in each response)
Give the questions some thought and answer honestly
1. What is happening?
2. What issues does it raise?
3. What emotions come to your awareness?
4. What implications does it have for how we practice?
.
Answer the following questions based on the ethnography Dancing Skel.docxSHIVA101531
Answer the following questions based on the ethnography Dancing Skeletons. It is not necessary to write
an essay, but do engage the questions at a thoughtful level. Be sure to answer the question thoroughly as
each has several parts and use examples from the ethnography.
1. Why is it important for an anthropologist to be able to speak the local language? What
advantages did the author enjoy because of her language ability? What difficulties ensue when a
researcher is not able to speak the local language? If all contact with the population is through an
interpreter, what sorts of bias might arise in the data collection?
2. What was the outcome of the author’s visit to #104’s compound? What had happened to the
child since her last visit several years earlier? Why did the author use numbers to refer to people
in her study, instead of their names? Do you think it was right for Dettwyler to intervene in the
case of child #104, or should anthropologists just study people in other cultures and endeavor to
have as little impact on them as possible? Is it possible to conduct anthropological research
without having some effect on the people you study?
3. How do the medical resources of Magnambougou compare to those available in the United
States? What are the main diseases children in Mali must contend with?
4. Using female circumcision as the focus, discuss the concept of cultural relativism as used by
anthropologists. Even though we may understand the beliefs behind the practice, does cultural
relativism compel us to approve of female circumcision? What are some of the rationales
provided by cultures that practice female circumcision? What was Agnes’s attitude (Chapter 3)
when she found out that neither the author nor her daughter had been, or where intending to be
circumcised?
5. Aminata’s parents could see that she was very skinny even though she ate a lot of food.
“Everyone knows that you can eat a lot and still be skinny” (Dettwyler 1994: 44). How do
observations such as these contribute to the belief among some Malians that food intake and
health are not related?
Essay and Homework Requirements:
• Minimum of 2 typed pages of your writing (not including heading or prompt)
• 12 point font size
• 1 inch margins on all sides
• Double-spaced throughout
• Spell-checked, grammar-checked
.
Answer the following questions to the best of your ability1) De.docxSHIVA101531
Answer the following questions to the best of your ability:
1) Describe Native America societies prior to European contact. What are some examples of how their civilizations varied by region across North and South America?
2) What was the Columbian Exchange? Give at least 5 examples,
(be specific with details)
. What are some effects this had on both the Old and New Worlds?
3) Briefly describe the relationship between Powhatan and the English colonists of Virginia Colony in the 17thcentury. How did they help one another? How did they oppose one another?
4) Refer to the website below on the
Mayflower Compact, 1620
. What do the writers claim their purpose was in founding a colony (Plymouth)? What do the writers claim is their purpose in establishing this charter?
*copy/paste into your browser to answer the questions above:
https://avalon.law.yale.edu/17th_century/mayflower.asp
5) What was the major cash crop of the English colonies around the Chesapeake Bay (e.g., Virginia and Maryland)? What unfree laborers primarily worked that crop for wealthier landowners in the 17th century? What unfree laborers were the predominant labor force on plantations as the 18th century wore on?
6) Describe the First and Second Great Awakenings. What were some similarities between those movements? What were some differences?
7) What are at least 4 factors that led to the American Revolution? Briefly describe each one.
8) Describe the influence of Enlightenment ideals on the Constitution? What were three (3) major compromises that were necessary to gain enough support to ratify the Constitution
(describe them)
?
9) What was the “Revolution of 1800” and why is it important, even today?
10) What was the Louisiana Purchase? Give three examples of long-term consequences of the US acquiring that territory?
11) Throughout the 17th, 18th, and 19th centuries, what are some of the ways in which American Indian peoples interacted with European (and later, American) settlers? What were some of the strategies which American Indian tribes used to navigate European and US expansion?
12) Describe the difference between northern and southern states in the US between 1800 and 1850. What were some of their defining characteristics?
13) What factors prompted the South to secede from the United States in 1860/1861? What was Pres. Lincoln’s response? What were 3 consequences of the Civil War?
14) Describe Reconstruction. Did it work (how and/or how not)?
.
Answer the following questionDo you think it is necessary to .docxSHIVA101531
Answer the following question:
Do you think it is necessary to create a different law to serve minors who violate the law or should they be processed in the same way that adults are processed? Explain.
**Arguments in response to the question must be supported by at least two academic sources.**
Essay ( 1-3 pages)
.
Answer the following question. Use facts and examples to support.docxSHIVA101531
Answer the following question. Use facts and examples to support your answer. Use APA style for any references.
Due June 14, 11:59 p.m. EST
Using Figure 5.4 as the target architecture, who are the threat agents who will be most interested in attacking Web applications created through AppMaker?
.
Answer the bottom questions in apa format and decent answer no shor.docxSHIVA101531
Answer the bottom questions in apa format and decent answer no short answer please.
Subaru's Sales Boom Thanks to the Weaker Yen For the Japanese carmaker Subaru, a sharp fall in the value of yen against the U.S. dollar has turned a problem—the lack of U.S. production—into an unexpected sales boom. Subaru, which is a niche player in the global auto industry, has long bucked the trend among its Japanese rivals of establishing significant manufacturing facilities in the North American market. Instead, the company has chosen to concentrate most of its manufacturing in Japan in order to achieve economies of scale at its home plants, exporting its production to the United States. Subaru still makes 80 percent of its vehicles at home, compared with 21 percent for Honda. Back in 2012, this strategy was viewed as something of a liability. In those days, one U.S. dollar bought only 80 Japanese yen. The strong yen meant that Subaru cars were being priced out of the U.S. market. Japanese companies like Honda and Toyota, which had substantial production in the United States, gained business at Subaru's expense. But from 2012 onward, with Japan mired in recession and consumer prices falling, the country's central bank repeatedly cut interest rates in an attempt to stimulate the economy. As interest rates fell in Japan, investors moved money out of the country, selling yen and buying the U.S. dollar. They used those dollars to invest in U.S. stocks and bonds where they anticipated a greater return. As a consequence, the price of yen in terms of dollars fell. By December 2015, one dollar bought 120 yen, representing a 50 percent fall in the value of the yen against the U.S. dollar since 2012. For Subaru, the depreciation in the value of the yen has given it a pricing advantage and driven a sales boom. Demand for Subaru cars in the United States has been so strong that the automaker has been struggling to keep up. The profits of Subaru's parent company, Fuji Heavy Industries, have surged. In February 2015, Fuji announced that it would earn record operating profits of around ¥410 billion ($3.5 billion) for the financial year ending March 2015. Subaru's profit margin has increased to 14.4 percent, compared with 5.6 percent for Honda, a company that is heavily dependent on U.S. production. The good times continued in 2015, with Subaru posting record profits in the quarter ending December 31, 2015. Despite its current pricing advantage, Subaru is moving to increase its U.S. production. It plans to expand its sole plant in the United States, in Indiana, by March 2017, with a goal of making 310,000 a year, up from 200,000 currently. When asked why it is doing this, Subaru's management notes that the yen will not stay weak against the dollar forever, and it is wise to expand local production as a hedge against future increases in the value of the yen. Indeed, when the Bank of Japan decided to set a key interest rate below zero in early February 2016, the yen .
Answer the following below using the EXCEL attachment. chapter 5.docxSHIVA101531
Answer the following below using the EXCEL attachment.
chapter 5's Exercise questions 9, 10, 11, 12, and post at least 2 points that he/she has learned from them and at least 2 questions that he/she may have.
chapter 5 appendix Exercise question 4
.
Answer the following prompts about A Germanic People Create a Code .docxSHIVA101531
Answer the following prompts about “A Germanic People Create a Code of Law” on pgs. 104-108 from the
Sources of
World Societies: Volume 1: To 1600
book. your answer should include one original question that you have about the readings.
1. Compare and contrast this law code with the Twelve Tables and the Code of Hammurabi.
2. Where do you see major similarities, and differences?
3. Of the three codes, which would you prefer to live under, and why?
.
Answer the following discussion board question below minumun 25.docxSHIVA101531
Answer the following discussion board question below: minumun 250 words in total.
[1] How did the attempted impeachment of President Clinton come about? What do you think about this attempt at impeachment and the surrounding controversies and circumstances?
[2] What parallels, if any, do you see between the impeachment efforts against President Clinton and those today against President Trump? Are they comparable or completely different, in your view? Explain.
.
Answer the following questions about IT Project Management. What.docxSHIVA101531
Answer the following questions about IT Project Management.
What is a project, and what are its main attributes? How is a project different from what most people do in their day-to-day jobs? Discuss the importance of top management commitment and the development of standards for successful project management. Provide examples to illustrate the importance of these items based on your experience on any type of project. Discuss the unique challenges that an IT project presents.
.
Answer the following in at least 100 words minimum each1.Of.docxSHIVA101531
Answer the following in at least 100 words minimum each:
1.Often times we will see data that goes up and down and doesn’t appear to be moving at a steady rate in either direction. Can we draw any conclusion from data like that?
2.
Time series and future prediction of value is something that many of you likely deal with at work. You may see the type of future prediction in a retirement or investment account on a personal level. When would this type of analysis be important in your industry?
.
Answer the following questions(at least 200 words) and responses 2 p.docxSHIVA101531
Answer the following questions(at least 200 words) and responses 2 posts(not word limitation):
Should the federal, state, or local governments pass legislation that requires organizations to offer voluntary benefits? Why or why not?
You need to find a source and make reference
.
Answer the following questions in a Word document and upload it by M.docxSHIVA101531
Answer the following questions in a Word document and upload it by March 19. Answers should be one paragraph each.
1. What arguments can you provide to show there is or is not political bias in the media?
2. Do you feel that the existence of Wikileaks helps or undermines America's national security?
3. Why do you feel that polling errors occur in gathering data on Presidential elections?
4. Do you feel the Fairness Doctrine was justified, or do you feel it was right to repeal it?
5. Is the rise of digital citizenship a good or bad thing for the media?
.
Answer the following questions in complete sentences. Each answer sh.docxSHIVA101531
Answer the following questions in complete sentences. Each answer should be roughly one or two paragraphs. Use examples and/or quotes from the textbook to support your answers. Type in the answers directly below each question.
1. How did communism emerge in Russia and China? What were the similarities and differences between these two processes?
2. What were the main economic policies pursued by communist regimes? In what ways were they successful and in what ways did they fail?
.
ANSWER THE DISCUSSION QUESTION 250 WORDS MINDiscussion Q.docxSHIVA101531
**ANSWER THE DISCUSSION QUESTION 250 WORDS MIN**
Discussion Questions:
How should the United States government deal with the heightened concern about homegrown violent extremism and the growing concern for the preservation of civil liberties? What are the political and constitutional consequences of counter-terrorism? Lastly, how do we assess the tradeoffs between freedom and security?
***REPLY TO EACH POST 100 WORDS MIN EACH***
1. The United States government will always have to face the homegrown violent extremist because with the internet alone people are able to research just about anything and find their answers. The civil liberties are being violated because you have FBI and CIA looking into what people on doing on the webs. I personally believe that you gave up the right when you decided to goggle whatever it is you’re looking up. It’s also like social media site take Facebook for example people are willing to give up their rights so they can be on Facebook and be able to look or post whatever they want. But just like ever website the owner of that site has a right to delete what they don’t want on it as well. So why can’t the FBI/CIA look into and potentially stop a homegrown extremist from attacking the nation or even just attacking schools, churches, and retail stores like the mall or Wal-Mart. All these locations have had attacks from violent extremist when if they were being watched or monitored those attacks could have been stopped or at least less death could have occurred. From a political and constitutional stand point, consequences of counter-terrorism can vary. I political stand is to protect and preserve the freedom for the people. Protecting one’s Constitutional rights depends on what the politician’s plans on policies and procedures that could begin to take away those civil rights that were granted and give people the sense of freedom that the nation is built on. Policies and procedures can change everything take the mask wearing and social distancing for Covid-19, you have the people that are okay with it all and are following the rules but then you have the ones that have been protesting or fighting people over the fact that they don’t want to wear a mask. To me personally it’s simple to wear a mask but to others it’s a reason of rights being taken away by mandating it. Working for the military and DHS I personally don’t see freedom and security as a tradeoff. If agencies do their jobs correctly and protect the United States and National Security then freedom wouldn’t be at stake. I believe in freedom but the security measures in place are to help protect that freedom, without the security measures the nation would be under attack like 9/11 or worse.
2. The internal terrorist threat in the United States is operational and complicated, with continuing threats from extreme left- and right-wing extremist groups and radicalization and recruitment efforts by international terrorist groups. Since Sept/11, our.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
TESDA TM1 REVIEWER FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
Legal InfluencesDo we have too many laws Does the existence o.docx
1. Legal Influences
Do we have too many laws? Does the existence of so many laws
and regulations hinder or help American Business today. Feel
free to give examples of some “stupid” laws! Have fun with this
discussion!
Unions and Video Surfing!
Please go to You Tube, bing.com videos, or any Video sharing
web site and add the Key Word: "Unions”
Find a video that interests you of the thousands that are on the
net on any aspect on Unions
Watch the Video that you selected and take notes on what you
viewed.
1 In a paper of at least two and not more than three, double
spaced pages, no Title Page, tell me what video you viewed.
2 Make sure that you provide the Internet address and the Title
on what you viewed.
3 Explain what you viewed and what you learned.
4 You may supplement your viewing with any other information
or your opinion.
ENJOY YOUR SURFING!
Chapter 1
26. LO.4, 5 A question on a state income tax return asks the
taxpayer if he or she made any out-of-state Internet or mail-
order catalog purchases during the year. The question requires
2. a yes or no answer, and if the taxpayer answers yes, the amount
of such purchases is to be listed.
a. Does such an inquiry have any relevance to the
state income tax? If not, why is it being asked?
b. Your client, Harriet, wants to leave the question
unanswered. As the preparer of her return, how do your
respond?
36.LO.5 Assess the probability of an audit in each of the
following independent situations:
a. As a result of a jury trial, Linda was awarded $3.5
million because of job discrimination. The award included $3
million for punitive damages.
b. Mel operates a combination check-cashing
service and pawnshop.
c. Jayden, a self-employed trial lawyer, routinely files a
Schedule C (Form 1040) that, due to large dedcti8ons, reports
little (if any) profit from his practice.
d. Bernard is the head server at an upscale restaurant
and recently paid $1.8 million for a residence in an exclusive
gated community.
42.LO.5, 6 On a Federal income tax return filed five years ago,
any inadvertently omitted a large amount of gross income.
a. Andy seeks your advice as to whether the IRS is
barred from assessing additional income tax in the event he is
audited. What is your advice?
b. Would your advice differ if you were the person who
prepared the return in question? Explain.
c. Suppose Andy asks you to prepare his current year’s
return. Would you do so? Explain.
50. LO.7, 8 Discuss the probable justification for each of the
following aspects of the tax law:
a. A tax credit is allowed for amounts spent to furnish
care for minor children while the parents work.
3. b. Deductions for interest on home mortgage and
property taxes on personal residence.
c. The income splitting benefits of filing a joint return.
d. Gambling losses in excess of gambling gains.
e. Net operating losses of a current year can be carried
back to profitable years.
f. A taxpayer who sells property on an installment basis
can recognize gain on the sale over the period the payments are
received.
g. The exclusion from federal tax of certain interest
income from state and local bonds.
h. Prepaid income is taxed to the recipient in the year
received and not in the year it is earned.
53. LO.8 Edward leases real estate to Janet for a period of 20
years. Janet makes capital improvements to the property. When
the lease expires, Edward reclaims the property, including the
improvements made by Janet.
a. Under current law, at what point does Edward
recognize income as a result of Janet’s improvements?
b. Has the law in part (a) always been the rule?
c. What is the justification, in any, for the current rule?
Chapter 3
2. LO.1, 5, 8, 9 During the year, Addison is involved in the
following transactions. What are the possible Federal income
tax effects of these transactions>
a. Lost money gambling on a trip to a casino.
b. Helped pay for her neighbor Howie’s dental bills.
Howie is a good friend who is unemployed.
c. Received from the IRS a tax refund due to Addison’s
overpayment of last year’s Federal income taxes.
d. Paid a traffic ticket received while double parking to
attend a business meeting.
e. Contributed to the mayor’s reelection campaign. The
mayor had promised Addison to rezone some of her land.
4. f. Borrowed money forma bank to make a down
payment on an automobile.
g. Sold a houseboat and a camper on eBay. Both were
personal use items, and the gain from one offset the loss from
the other.
h. Her dependent Aunt Katherine died on June 3 of the
year.
i. Paid for Katherine’s funeral expenses.
j. Paid premiums on her dependent son’s life insurance
policy.
10. LO.2, 3, 5 David is age 78, is a widower, and is being
claimed as a dependent by this son. How does this situation
affect the follow?
a. David’s own individual filing requirement.
b. David’s personal exemption.
c. The standard deduction allowed to David.
d. The availability of any additional standard deduction.
21. LO.4, 5 Comment on the availability of head-of-household
filing status in each of the following independent situations.
a. Al lives alone but maintains the household of his
parents. In July, the parents use their savings to purchase a
Lexus automobile for $62,000.
b. Bree maintains a home in which she and her father
lives. The father then enters a nursing facility for treatment for
a mental illness.
c. Chloe a single parent maintains a home in which she
and Dean, Chloe’s unmarried son, live. Dean, age 18, earns
$5,000 from a part-time job.
d. Assume the same facts as in (c), except that Dean is
age 19, not 18.
e. Chee is married and maintains a household in which
he and his dependent stepson live.
f. Evie lives alone but maintains the household where
her dependent daughter Zoe lives.
g. Frank maintains a household that includes Georgia,
an unrelated friend who qualifies as his dependent.
5. 29. LO.1, 8 Compute Emily’s 2014 taxable income on the
basis of the following information. Her filing status is single.
Salary
$85,000
Interest income from bonds issued by Xerox
1,100
Alimony payments received
6,000
Contribution to traditional IRA
5,500
Gift from parents
25,000
Capital gain from stock investment, held for 7 months
2,000
Amount lost in football office pool (sports gambling is
illegal where Emily lives)
500
Number of potential dependents (two cousins, who live in
Canada) ?
Age 40
46. LO.5, 6, 9 Roy and Brandi are engaged and plan to get
married. Roy is a full-time student and earns $9,000 from a
part-time job. With this income, student loans, savings, and
nontaxable scholarships, he is self-supporting. For the year,
Brandi is employed and reports $61,000 in wages. How much
Federal income tax, if any, can Brandi save if she and Roy
marry in 2014 and file a joint return?
Chapter 4
6. LO.2, 3 On December 29, 2014, an employee received a
$5,000 check from her employer’s client. The check was
payable to the employer. The employee did not remit the funds
to the employer until December 30, 2014. The employer
deposited the check on December 31, 2014, but the bank did not
credit the employer’s bank account until January 2, 2015. When
6. is the cash basis employer required to include the $5,000 in
gross income?
28. LO.1, 2, 5 Harper is considering three alternative
investments of $10,000. Assume that the taxpayer is in the 28%
marginal tax bracket for ordinary income and 15% for
qualifying capital gains in all tax years. The selected
investment will be liquidated at the end of five years. The
alternatives are:
a. A taxable corporate bond yielding 5% before tax and
the interest can be reinvested at 5% before tax.
B. A Series EE bond that will have a maturity value of
$12,200 (a 4% before-tax rate of return).
c. Land that will increase in value.
The gain on the land will be classified and taxed as a long-term
capital gain. The income from the bonds is taxed as ordinary
income. How much must the land increase in value to yield a
greater after-tax return than either of the bonds?
Given: Compound amount of $1 and compound value of
annuity payments at the end of five years:
Interest Rate $1 compounded for 5 years $1
Annuity compounded
for 5 years
5% $1.28 $5.53
4% 1.22 5.42
3.6% 1.19 5.37
41. LO.2, 3 Troy a cash basis taxpayer, is employed by Eagle
Corporation, also a cash basis taxpayer. Tory is a full-time
employee of the corporation and receives a salary of $60,000
per year. He also receives a bonus equal to 10% of all
collections from clients he serviced during the year. Determine
the tax consequences of the following events to the corporation
and to Troy:
a. On December 31, 2014, troy was visiting a customer.
7. The customer gave troy a $10,000 check payable to the
corporation for appraisal services Troy preformed during 2014.
Troy did not deliver the check to the corporation until January
2015.
b. The facts are the same as in (a), except that the
corporation is an accrual basis taxpayer and Troy deposited the
check on December 31, but the bank did not add the deposit to
the corporation’s account until January 2015.
c. The facts are the same as is (a), except that the
customer told Troy to hold the check until January 2015 when
the customer could make a bank deposit that would cover the
check.
42. LO3, 4 Faye, Gary, and Heidi each have a one-third interest
in the capital and profits of the FGH Partnership. Each partner
had a capital account of $50,000 at the beginning of the tax
year. The partnership profits for the tax year were $270,000.
Changes in their capital accounts during the tax year were as
follows:
Faye
Gary
Heidi
Total
Beginning Balance
$50,000
$50,000
$50,000
$150,000
Withdrawals
(20,000)
(35,000)
(10,000)
(65,000)
Additional contributions
8. 0
0
5,000
5,000
Allocation of profits
90,000
90,000
90,000
270,000
Ending balance
$120,000
$105,000
$135,000
$360,000
In arriving at the $270,000 of partnership profits, the
partnership deducted $2,400 ($800 for each partner) in
premiums paid for group term life insurance on the partners.
Faye and Gary are 39 years old, and Heidi is 35 years old.
Other employees are also eligible for group term life insurance
equal to their annual salary. These premiums of $10,000 have
been deducted in calculating the partnership profits of
$270,000. Compare each partner’s gross income from the
partnership for the tax year.
47. LO.4, 5 Roy decides to buy a personal residence and goes to
the bank for a $150,000 loan. The bank tells him that he can
borrow the funds @ 4% if his father will guarantee the debt.
Roy’s father, Hal, owns a $150,000 CD currently yielding 3.5%.
The Federal rat is 3%. Hal agrees to either of the following:
* Roy borrows from the bank with Hal’s guarantee to the
bank
* Cash in the CD (with no penalty) and lend Roy the funds
at 2% interest.
Hal is in the 33% marginal tax bracket. Roy, whose only source
of income is his salary, is in the 15% marginal tax bracket. The
9. interest Roy pays on the mortgage will be deductible by him.
Which option will maximize the family’s after-tax wealth?
Chapter 5
17. LO.2, 5 Wilbur has been offered a job at a salary that would
put him in the 25% marginal tax bracket. In addition to his
salary, he would receive health insurance coverage. Another
potential employer does not offer health insurance but has
agreed to match the first offer on an after-tax and insurance
basis. The cost of health insurance comparable to that provided
by the other potential employer is $9,000 per year. How much
more in salary must the second potential employer pay so that
Wilbur’s financial status will be the same under both offers?
25. LO.3 Dolly is a cash basis taxpayer. In 2014, she filed her
2013 South Carolina income tax return and received a $2,200
refund. Dolly took the standard deduction on her 2013 Federal
income tax return, but will itemize her deductions in 2014.
Molly, a cash basis taxpayer, also filed her 2013 South Carolina
income tax return in 2014 and received a $600 refund. Molly
has $12,000 in itemized deductions on her 2013 Federal income
tax return, but will take the standard deduction in 2014. How
does the tax benefit rule apply to Dolly’s and Molly’s
situations? Explain.
35. LO.2 Adrian was awarded an academic scholarship to State
University for the 2014-2015 academic year. He received
$6,500 in August and $7,200 in December 2014. Adrian had
enough personal savings to pay all expenses as they came due.
Adrian’s expenditures for the relevant period were as follows:
Tuition, August 2014 $3,700
Tuition, January 2015 3,750
Room and board
Aug-Dec 2014 2,800
10. Jan-May 2015 2,500
Books and educational supplies
Aug-Dec 2014 1,000
Jan-May 2015 1,200
Determine the effect on Adrian’s gross income for 2014 and
2015.
40. LO.2, 5 Mauve Corporation has a group hospitalization
insurance plan that has a $200 deductible amount for hospital
visits and a $15 deductible for doctor visits and prescriptions.
The deductible portion paid by employees who have children
has become substantial for some employees. The company is
considering adopting a medical reimbursement plan or a flexible
benefits plan to cover the deductible amounts. Either of these
plans can be tailored to meet the needs of the employees. What
are the cost considerations to the employer that should be
considered in choosing between these plans?
57. LO.4, 5 Fran, who is in the 35% tax bracket, recently
collected $100,000 on a life insurance police she carried on her
father. She currently owes $120,000 on her personal residence
and $120,000 on business property. National Bank holds the
mortgage on both pieces of property and has agreed to accept
$100,000 in complete satisfaction of either mortgage. The
interest rate on the mortgages is 8%, and both mortgages are
payable over 10 years. What would be the tax consequences of
each of the following alternatives assuming that Fran currently
deducts the mortgage interest on her tax return?
a. Retire the mortgage on the residence.
b. Retire the mortgage on the business property.
Which alternative should Fran select?
