Category: Uncategorized

Accounting tax problem – Philip and Claire are married and file a joint

Question
	INDIVIDUAL TAX RETURN PROBLEM 4

Required:

Use the following information to complete Phillip and Claire Dunphy's 2011 federal income tax return. If information is missing, use reasonable assumptions to fill in the gaps. Ignore the alternative minimum tax for this problem.
Any required forms, schedules, and instructions can be found at the IRS Web site (). The instructions can be helpful in completing the forms.
Facts:

Phillip and Claire are married and file a joint return. Phillip is self-employed as a real estate agent, and Claire is a flight attendant. Phillip and Claire have three dependent children. All three children live at home with Phillip and Claire for the entire year.
The Dunphys provide you with the following additional information:
The Dunphys do not want to contribute to the presidential election campaign.
The Dunphys live at 3701 Brighton Avenue, Los Angeles, CA 90018.
Phillip's birthday is 11/5/1965 and his Social Security number is 321-44-5766.
Claire's birthday is 5/12/1968 and her Social Security number is 567-77-1258.
Haley's birthday is 11/6/1999 and his Social Security number is 621-18-7592.
Alex's birthday is 2/1/2001 and her Social Security number is 621-92-8751.
Luke's birthday is 12/12/2005 and his Social Security number is 621-99-9926.
The Dunphys do not have any foreign bank accounts or trusts.
Claire is a flight attendant for Western American Airlines (WAA), where she earned $57,000 in salary. WAA withheld federal income tax of $6,375, state income tax of $1,800, Los Angeles city income tax of $675, Social Security tax of $3,600, and Medicare tax of $825.
Phillip and Claire received $300 of interest from State Savings Bank on a joint account. They also received a qualified dividend of $395 on jointly owned stock in Xila Corporation.
Phillip's real estate business is named “Phillip Dunphy Realty.” His business is located at 645 Grove Street, Los Angeles, CA 90018, and his employer identification number is 93-3488888. Phillip's gross receipts during the year were $730,000. Phillip uses the cash method of accounting for his business. Phillip's business expenses are as follows:
Advertising
$?5,000
Professional dues
800
Professional journals
200
Employee wages
48,000
Insurance on office contents
1,120
Accounting services
2,100
Miscellaneous office expense
500
Utilities and telephone
3,360
Payroll taxes
3,600
Depreciation
To be calculated
On March 20, Phillip moved his business out of the old offices at 1103 Allium Lane into a newly constructed and equipped office on Grove Street. Phillip sold the old office building and all its furnishings. Phillip's expenditures for the new office building are as follows:
Phillip computes his cost recovery allowance using MACRS. He would like to use the §179 immediate expensing, but he has elected to not claim any bonus depreciation. Phillip has never claimed §179 or bonus depreciation before. The assets Phillip sold on March 20 are as follows:
Phillip has never sold any assets relating to his business before this transaction.
Page C-7
The Dunphys sold 60 shares of Fizbo Corporation common stock on September 3, for $65 a share (minus a $50 total commission). The Dunphys purchased the stock on November 8, 2010, for $90 a share. They also sold a painting for $13,000 on March 1. Claire purchased the painting for $20,050 on September 1, 2004, as an investment.
The Dunphys filed their 2010 federal, state, and local returns on April 14, 2011. They paid the following additional 2010 taxes with their returns: federal income taxes of $630, state income taxes of $250, and city income taxes of $75.
The Dunphys made timely estimated federal income tax payments of $16,000 each quarter during 2011. They also made estimated state income tax payments of $1,000 each quarter and estimated city income tax payments of $300 each quarter. The Dunphys made all fourth-quarter payments on December 31, 2011. They would like to receive a refund for any overpayments.
	

Discuss the right of a corporate network administrator to use packet sniffers

Question
	

Discuss the right of a corporate network administrator to use packet sniffers. Are employees’ privacy rights being violated?
	

Economics – The U.S. government spends over $33 billion on its Food Stamp Program

Question
	

The U.S. government spends over $33 billion on its Food Stamp Program to provide millions of Americans with the means to purchase food. These stamps are redeemable for food at over 160,000 store locations throughout the nation, and they cannot be sold for cash or used to purchase nonfood items. The average food stamp benefit is about $284 per month. Suppose that, in the absence of food stamps, the average consumer must divide $600 in monthly income between food and “all other goods” such that the following budget constraint holds: $600 = $12A + $4F, where A is the quantity of “all other goods” and F is the quantity of food purchased. Using the graph below, draw the consumer’s budget line in the absence of the Food Stamp Program. On the same graph, show the budget line with the Food Stamp Program.
Instruction: If the budget line has any kinks, be sure to plot all the points where the kinks occur in addition to the points where the line crosses the intercepts. Graph both budget sets from where Food = 0 to where they cross the X-axis. What is the market rate of substitution between food and “all other goods” for the budget line without the Food Stamp Program?
Instruction: Round your answer to two decimal places.
With the Food Stamp Program in place, would this consumer benefit from illegally exchanging food stamps for cash?
Yes - illegally exchanging food stamps for cash will definitely make him/her better off.
Possibly - depending on his/her preferences.
No - he/she cannot benefit from illegal exchange of food stamps.
	

What is the difference between a Mutual Fund and an ETF?

Question
	

1. If your coffee shop were to need to execute retrenchment strategies, what 3 actions would you be able to take in order to do this?
2. A company you are looking at investing in has a consistent net profit margin, but a decreasing quick ratio. What may be causing this?

3. Why is the value of Inventory excluded from the Quick Ratio?

4. What is the difference between a Mutual Fund and an ETF?
5. Why do companies often decide to complete a Horizontal Acquisition?
In order to broaden their market share together. Since these two companies are producing similar goods and services, it reduces the competition and increases their marketing power if they combine into one company through a Horizontal Acquisition strategy.

6. When looking at competitive forces, why do we care about the “barriers to entry”?
7. Why should a company care about its stock price on the stock exchange?
8. If you look at Starbucks, what do you determine is their most important sustainable competitive advantage, and why?

9. When your company is in a position to launch a related diversification strategy, what are 3 things you would need to consider about your target industry?
10. What are the steps you would take to complete a probable outcomes assessment?
	

what are three ways businesses use the Internet -user guide

Question
	

In your words, what are three ways businesses use the Internet. Describe how each way benefits a company.
250-300 words only
	

Student Bookstore at Pleasant Creek Community College Situation

Question
	

Student Bookstore at Pleasant Creek Community College Situation: The bookstore staff at Pleasant Creek Community College works hard to satisfy students, instructors, and the school’s business office. Instructors specify textbooks for particular courses, and the bookstore orders the books and sells them to students. The bookstore wants you to develop an object-oriented model for a new bookstore information management system.
a. List possible objects in the bookstore operation, including their attributes and methods.
b. Identify possible use cases and actors. 
c. Select one of the use cases that you identified in Step b. and create a sequence diagram.
d. Create an object relationship diagram that provides an overview of the system, including how textbooks are selected by instructors, approved by a department head, and sold to students by the bookstore.
Pleasant Creek Community College Registration System Situation: Pleasant Creek Community College has a typical school registration process. Student support services include faculty advisors and tutors. The administration has asked you, as IT manager, to develop an object-oriented model for a new registration system.
a. List possible objects in the new registration system, including their attributes and methods. 
b. Identify possible use cases and actors. 
c. Create a use case diagram that shows how students register.
d. Create a state transition diagram that describes typical student states and how they change based on specific actions and events.
	

Data from a National Health Survey show

Question
	
1. Data from a National Health Survey show that men’s average weight is normally distributed with a mean of 172 pounds and a standard deviation of 29 pounds.

a. If a man is chosen at random, what is the probability that his weight is greater than 180 pounds?
b. If 100 men are randomly selected, what is the probability that their mean weight is greater than 180 
pounds?
c. What is the probability that mean weight of the 100 men is less than 160 pounds?


2. According to the College Board’s report, the average tuition and fees at four year private colleges and 
universities in the United States was $18,273 for the academic year 2002 – 2003 and the standard deviation was $2100. For a random sample of 100 four year private U.S. colleges:

a. What is the mean of the sampling distribution?
b. What is the standard deviation of the sampling distribution?
c. What is the probability that the mean tuition and fees of the sample is greater than $20,000?
d. What is the probability that the mean tuition and fees of the sample is less than $16,000?
e. What is the probability that the mean tuition and fees of the sample is within $550 of the population 
mean?
	

Post university Fin301 unit 3

Question
	Problem 1

Answer the following questions. Be sure to show all your work- not just the answer. Follow this format: cite the formula, then plug in numbers, then compute to show your final answer.

1. What is the Rule of 72 ?
2. Solve using the Rule of 72: rate = 8%, years = 18, pv = $7,000. Solve for fv.
3. Solve, using the Rule of 72 rate = 4%, years = 18, fv=$8,000. Solve for pv.
4. Solve, using the Rule of 72: rate =6%, pv=$7,000, fv= $56,000. Solve for years.
5. Solve, using the Rule of 72: pv=$10,000; fv=$160,000; years=10. Solve for rate.
Q6-Q9. Use appropriate tvm table

Q6 pv= $7,200 rate = 7% periods = 15 Solve for fv
Q7 fv=$15,000 rate = 15% periods = 10 Solve for pv
Q8 payment = $6,000 interest rate =8% number of periods = 10 Solve for pva
Q9 payment = $4,000 interest rate =10% number of periods = 20 Find fva

For Q10-Q13, you many use tvm tables, a financial calculator, or excel to solve. Be sure to show all the steps in your work: factors & formula if you use the tables; keystrokes if you use a financial calculator; or formulas if you use excel.
Q10. Stressed and penniless after months of day trading, Mr. Baruch decides to invest his savings into a conservative growth mutual fund. He plans to retire in 30 years and wants to make annual deposits into his IRA in order to accumulate a sum of $450,000 at the end of the 30 years. Mr. Baruch expects to earn 10% per year, on average, in his mutual fund. What should be the amount of Baruch's annual contributions ?
Q11. On the way to Stop&Shop, you buy a lottery ticket and win $100,000. The catch is that the money will be paid to to you in two installments: $50,000 today, and $50,000 at the end of 5 years from now.
Q11-a: Assuming an interest rate of 8%, what is the present value of your totalpayments ?
Q11-b: Suppose that you invest the $50,000 winnings that you receive today and earn 8% annually for the next 5 years. What is the future value of your total lottery payments ?
12. Investor G. Loeb owns a 5-year, $1000 bond with a 5% coupon. If the yield to maturity on similar bonds is currently 10%, what is Mr. Loeb's bond worth today ?
13. A security analyst is forecasting dividends for Boston Electric over the next four years, as follows: $1 (Y1), $1.50 (Y2); $2.00 (Y3); $2.75 (Y4). In addition, the analyst expects that the stock could be sold for $62.25 four years from now. If the required return on the stock is 8%, what is the stock worth today ?

Problem 2

Bender Guitar Corporation, a manufacturer of custom electric guitars, is contemplating a $1,000,000 investment in a new production facility. The economic life of the facility is estimated to be five years, after which the facility will be obsolete and have no salvage value.
To make the new facility operational, building improvements costing $400,000 will be required. In addition, a $50,000 increase in working capital will be needed.
Bender's accounting and marketing departments have provided the following information: the firm will use the straight-line method of depreciation; the Company is in the 30% tax bracket; the weighted average cost of capital is 8%.
Here are Earnings before Interest and Taxes (EBIT) estimates for the new facility:
Year 1.........$80,000
Year 2.......$100,000
Year 3.......$120,000
Year 4........$140,000
Year 5.......$165,000

Your assignment is to answer the following questions:
1. Diagram the cash flows for the project using a time line. For each of Years 1 through 5, include the following data on your diagram (in this order) : EBIT, tax, depreciation, Operating Cash Flow (OCF), and discounted OCF.

2. Indicate the initial investment cost, the present value, the Net Present Value (NPV), and the payback (measured in years based on non-discounted OCF numbers).

3. Evaluate the project's efficacy. Is this facility worthwhile, based upon your calculations ? Why or why not ? What does the NPV decision rule indicate for this project ? If you were Bender's financial manager, what other factors would you consider before deciding whether or not to recommend construction of the production facility ?


Problem 3

Touring Enterprises, Inc., has a capital structure consisting of $18 million in long-term debt and $7 million in common equity. There is no preferred stock outstanding. The interest rate paid on the long-term debt is 10%. The firm is in the 35% tax bracket. On the common equity (stock), the Company pays an annual dividend of $1.20 and expects to increase the dividend by 5% per year. The market price of the stock is $50. Based on this information, answer the following questions:

1. Calculate Touring Enterprises' weighted average cost of capital (WACC). Work as follows: first, compute the after-tax cost of debt, then compute the cost of equity. Cite both formulas, and show all your work. Then, determine the weightings of debt and equity in the capital structure.

Lastly, using your answers to the above questions, calculate the WACC.

2. If Touring Enterprises were to increase the percentage of debt in its capital structure, what would happen to the WACC ? No calculation is necessary- simply provide a short, non-numeric response.

3. Identify and explain the benefits and risks of debt financing. A two-paragraph answer will suffice.	

MKTG 370 Marketing MCQs

Question
	

1. TV commercials, newspaper and magazine ads, the tools that carry and deliver the “image” of a marketed product or service, are known as its:
A. positioners. 
B. branding. 
C. identity. 
D. product luster.
2. Given a unique product or service and a small, focused target market, a strategy designed to set a product or service apart from competitors is known as:
A. niche strategy. 
B. mass marketing approach. 
C. undifferentiated. 
D. open-ended.
3. According to economic theory, unlimited access to information which leads to perfect market knowledge of price structures will tend to cause prices to:
A. increase. 
B. converge. 
C. go down. 
D. skyrocket.
4. For an online marketing effort involving a product (after the selection of a good product name) the URL for your Web site should be:
A. distinctive and tie into the actual product name. 
B. in the Web site but never in the URL. 
C. It doesn’t matter too much what the URL is. 
D. exactly the same as the product name.
5. During market segmentation, the investigation of prospect clusters according to lifestyle and self-concept is referred to as:
A. demographics. 
B. partitioning. 
C. psychographics. 
D. target positioning.
6. When using electronic tools, logistics (distribution) functions should be:
A. designed to take advantage of online communications capabilities. 
B. done exactly the same as in physical retail stores. 
C. eliminated completely. 
D. broken down into smaller, more manageable steps.
7. The objective and task method in which the marketer delineates the marketing for the period and then calculates a cost for each task is also known as:
A. periodic table budgeting. 
B. expenditure justification method. 
C. zero based budgeting. 
D. objective budgeting.
8. One effective method for online marketers to increase consumer credibility in a Web site or product line is to:
A. ask prospective customers to “trust us like your uncle.” 
B. display earned awards and certifications on the Web site. 
C. assume that consumers will naturally trust your products and company. 
D. say disparaging things about your competitor’s Web site.
9. Good online marketers will be particularly aware of how customers will use their products and the specific advantages and positive outcomes obtained from the use of the products by doing a:
A. reaction profile. 
B. benefits analysis. 
C. cost analysis. 
D. strategic guess.
10. Since online media fit best into the direct marketing category, business on the WWW may have the effect of:
A. largely eliminating the retailer or wholesaler. 
B. eliminating most TV advertising. 
C. minimizing personal communications with customers. 
D. creating more mass marketing strategies.
11. The implementation of marketing programs means:
A. planning marketing programs. 
B. organizing marketing programs. 
C. executing marketing programs. 
D. analyzing the results of marketing programs.
12. "Coupon Keys" are:
A. identification codes. 
B. a promotion to give instant coupons to the customer. 
C. a way to trigger the customer to pick one brand over another. 
D. electronic keys to " open the doors" to more information for the customer.
13. Attracting new customers is about __________ times more costly than selling to and servicing existing customers.
A. three 
B. seven 
C. nine 
D. 20
14. Marketers learn about customers' concerns by:
A. reading their e-mail. 
B. listening to their compliments and complaints. 
C. reviewing competitor advertising companies. 
D. identifying which competitors' products they buy. 
15. SOQ is:
A. a formula used to estimate how many times a Web site will be hit by customers in a 24-hour period. 
B. a new ISP like AOL. 
C. a supplier's statement of qualifications to manage a proposed project. 
D. shorthand used in Global Positioning Satellite Systems to identify the geographic area "South of Quebec
16.
Marketing managers should be briefed on a program’s progress:
A. weekly. 
B. monthly. 
C. quarterly. 
D. upon completion.
17.
In planning for a 12-month period:
A. the objective and task method works well. 
B. procrastination time should be built in because stressed managers need it. 
C. it is best to be general and not specific because plans and personnel change. 
D. a rigid timetable should not be set because things change.

18.
Marketing planning:
A. continually focuses on reviewing past performances. 
B. focuses on the future, typically no longer than thirty days. 
C. has no time orientation. 
D. has a long term orientation up to several months.

19.
The one invisible marketing "P" that marketers are bringing into the light is:
A. product. 
B. performance. 
C. place. 
D. price.
20.
Measurement parameters for judging a salesperson’s performance include:
A. volume by product or service. 
B. probability by product or service. 
C. lost sales. 
D. Both a and b
	

Assignment: Madoff Securities

Question
	


Write a five to six (5-6) page paper [original and fresh]in which you:

1.
Determine the regulatory oversight that was in
place while the Ponzi scheme was operating, and speculate on the main reasons
why they did not discover the scheme.

2.
Assume you are an auditor for a firm that had
$10 million dollars invested in Madoff Securities.

3.
Determine the fundamental audit procedures
that you should have applied to this investment.

4.
Predict the way in which a peer review of Friehling
and Horowitz would have uncovered the scheme related to Madoff Securities.

5.
Pretend you are Harry Markopolos and suggest
one (1) strategy, different from that of the case study, to expose the
potential fraud. Provide a rationale to support the suggestion.

6.
Analyze the role of the audit committee for
Madoff Securities in regard to the discovery of Ponzi scheme, and suggest one
(1) action the audit committee could have taken in order to prevent or detect
the fraud. Provide a rationale to support the suggestion.

7.
Use at least three (3) quality academic
resources in this assignment. Note: Wikipedia and similar type Websites do not
qualify as academic resources.



Review the Madoff
Securities case file.

The specific course
learning outcomes associated with this assignment are:

·
Analyze the requirement for the profession of
auditing and the integral role that independence assurance plays within the
economy.

·
Examine the corporate governance of audits
including the professional, regulatory, and corporate managerial requirements.

·
Use technology and information resources to
research issues in auditing.

·
Write clearly and concisely about auditing
using proper writing mechanics.