William Corp. issued 10,000 shares of its $1 par

William Corp. issued 10,000 shares of its $1 par

Subject: Business / Accounting
Question
William Corp. issued 10,000 shares of its $1 par value common stock for a building. The building was listed for sale at $500,000. William’s common stock is currently selling for $45 per share. William Corp. should record the building at

$10,000

$440,000

$450,000

$500,00

If a company reissued at $20 per share 100 shares of treasury stock that it had previously acquired for $28 per share and there wasn’t any Paid-in Capital from Treasury Stock, it would debit

Loss on Sale of Treasury Stock for $800

Paid-in Capital from Common Stock for $800

Retained Earnings for $800

Treasury Stock for $800

Coe Corp. issued 20,000 shares of $5 par common stock at $10 per share. On December 31, 2005, Coe’s retained earnings were $300,000. In March 2006, Coe reacquired 5,000 shares of its common stock at $20 per share. In June 2006, Coe sold 1,000 of these shares to its corporate officers for $25 per share. Coe uses the cost method to account for its treasury stock. Net income for the year ended December 31, 2006, was $60,000. At December 31, 2006, what amount should Coe report as retained earnings?

$360,000

$365,000

$375,000

$380,000

During 2005, Bob Co. issued 5,000 shares of $100 par convertible preferred stock for $110 per share. One share of preferred stock can be converted into three shares of Bob’s $25 par common stock at the option of the preferred shareholder. On December 31, 2006, when the market value of the common stock was $40 per share, all of the preferred stock was converted. What amount should Bob credit to Common Stock and to Additional Paid-in Capital as a result of the conversion?

Common Stock

Additional Paid-in Capital

$375,000

$175,000

375,000

225,000

500,000

50,000

600,000

0

Assume that Grandzol Company believes that $120,000 of a $600,000 deduction will not be utilized in future periods and that the tax rate is 40 percent for all periods. What is the amount of the valuation allowance?

$48,000

$120,000

$192,000

$240,000

On December 31, 2010, Albacore Company had 300,000 shares of common stock issued and outstanding. Albacore issued a 10% stock dividend on June 30, 2011. On September 30, 2011, 12,000 shares of common stock were reacquired as treasury stock. What is the appropriate number of shares to be used in the basic earnings per share computation for 2011?

303,000

342,000

312,000

327,000

 

Math211 Week 8 Comprehensive Healthcare Applications Assignment

Math211 Week 8 Comprehensive Healthcare Applications Assignment

Subject: General Questions / General General Questions
Question
Healthcare Application Assignment

Please use the data, StatCrunch, and your knowledge of statistics to answer the questions below.. Download the provided CDC data into StatCrunch (located at the bottom of these directions). You will utilize this data in weeks 3 and 8 for your Healthcare Applications Assignment.

Part I

Calculate the correlation coefficient between each of the independent variables and the variable—diabetes. What does this value tell us about the relationship between each of the independent variables and diabetes?
Run a regression using diabetes as the dependent variable and smoking as the independent variable.
Is there a statistically significant relationship between poverty rates and diabetes? (Use the T-stat or P-value.) Explain.
Write out the regression line calculated using the data.
Interpret b1 (the slope coefficient).
Suppose a state raises the tobacco tax and the rate of smoking in the state falls from 21% to 18%. What would the decrease be in the rate of diabetes based on the regression results?
Part II

Suppose you work for a local hospital. Your manager requests that you use the CDC data on diabetes and smoking, obesity rate, physical activity, and poverty rate to present a compelling argument to the board regarding the importance of creating state initiatives to reduce diabetes rates. You must present statistical data in a written report to the board. Write an APA formatted paper, double spaced, 2-4 pages in length, with a cover page and references page addressing the following:

Include a minimum of four types of statistical tests to make your case. Examples include hypothesis tests, confidence intervals, correlations, regressions, etc. You may use statistical tests that you have completed in weeks 3 and 8 or develop your own.
Include a minimum of three graphs with your report. Examples include scatter plots, histograms, regression lines, box-plots, etc. You may use graphs that you have completed in weeks 3 and 8 or develop your own.
Write an essay using these statistics and graphs to make a convincing argument for the need to create an initiative to reduce the rate of diabetes. In your essay, explain the relationship between diabetes and obesity, smoking, physical activity, and poverty rates utilizing statistical data, tests, and graphs. Be sure to explain your results and how these results show there is a need to create an initiative to reduce the diabetes rates.

 

SCS 2331-You are the audit senior for the 2015 year-end audit

SCS 2331-You are the audit senior for the 2015 year-end audit

Subject: Business / Accounting
Question
Question 4 ( 13 marks)
You are the audit senior for the 2015 year-end audit of Clearly Contacts (CC), a publicly
traded Canadian company, that is one of the largest and fastest on-line vision care
providers in the world. Because of the efficiencies of the Internet to bypass middlemen,
CC has a significant competitive advantage in its market.
You are responsible for auditing the revenue cycle. Performance materiality for the CC
audit is $100,000. CC’s year-end is October 31, 2015.
Below is a summary of key information regarding the revenue cycle:
Revenue Recognition Policy – Revenue from product sales is recognized when the
product has been shipped to the customer. At that point, the amount of sales revenue is
determinable, no significant vendor obligations remain and the collection of the revenue
is reasonably assured. A provision is made for product returns. Revenue collected in
advance of the product being shipped is deferred.
Audit Strategy for Revenue – The audit strategy relies upon tests of controls, (including
substantive tests of transactions), and substantive analytical procedures. There are no
accounts receivable confirmations sent out. Your audit team has tested controls related to
revenue transactions and concluded that controls are effective and support the control risk
assessment of low for the revenue transaction-related assertions.
Change in Credit Policy – When reviewing the accounts, you noted that a new account,
allowance for doubtful accounts, has been set up. Upon investigation, you find that in
February 2015, CC implemented a program where the majority of customers were
granted credit. CC developed this program to attract new customers who might be wary
of ordering contact lenses from an on-line retailer and having to pay for them prior to
receiving them. The company’s program, named “Invoice Me Later, or IML, allows
customers to order from CC and pay after receiving the product. Management estimates
payment should be generally received in less than 15 days.
Estimate for Allowance for Doubtful Accounts – The majority of the balances
outstanding are less than $150 and there are a large number of records. Management
estimates an allowance based upon the aging of the receivable portfolio. Below is a
summary of the aging and management’s estimate for the allowance for doubtful
accounts. 1 Aging of Accounts Receivable
Current
Aged between 60 -120 days
Aged greater than 120 days
Total Receivables
Allowance for Doubtful Accounts
Net Receivables 2015
$ 7,714,000
88,000
66,000
$7,868,000
135,000
7,733,000 2014
$ 6,695,000
nil
nil
6,695,000
nil
6,695,000 Required
a) Explain the impact of the IML program on your audit strategy for the revenue cycle of
CC. (Use the audit risk model and assertions to support your analysis). (5 marks)
b) Do you agree with the auditors’ decision to not send out accounts receivable
confirmations? Why or why not? (4 marks)
c) If the auditors planned to send out accounts receivable confirmations, what type of
confirmations would you recommend? Explain why. (4 marks) Question 3 (15 marks)
You are the in charge auditor for Johnny Gold Jewellers (JGJ) which has seven stores in
the Toronto area. The fiscal year end of the company is December 31. The company
deals in precious and semi-precious stones and high quality costume jewellery. Diamond
engagement rings make up over 50% of sales and 10, 14, and 18 carat gold chains make
up another 20%. During peak demand periods, for example just before Christmas and
Valentines Day, Mr. Gold acquires on consignment jewellery from another manufacturer.
The president, Johnny Gold, is an accredited geologist. Mr. Gold attends auctions in New
York and London several times a year. The rough cut gems are ground and polished in
JGJ’s lab in the flagship store and distributed among the seven stores. Mr. Gold needs to
anticipate well in advance what he believes the latest trends in costume jewellery will be.
Mr. Gold’s track record is excellent but occasionally he misses the mark and has to sell
some of the jewellery at a substantial discount. The company plans to do its inventory
count on December 31, 2015.
Perpetual inventory records are kept in each store, which should balance to a control
account kept in the main branch. Documentation for all purchases is kept in the main
branch. Mark-ups average 150% on cost. 2 All inventories are insured with a 50% co-insurance clause, and employees are bonded.
All employees receive a bonus based on sales for the last 2 weeks in December. The
bonus is based on the numbers of years working at JGJ as well as a percentage of sales.
It is now December 10, 2015 and you are preparing for the physical inventory count on
December 31, 2015.
Required
Explain briefly five specific risk factors related to the counting and valuation of JGJ’s
inventory at December 31, 2015. For each risk identify the management assertion and
one audit procedure to address the assertion (15 marks).
Arrange your answer using the table on the following page. Explanation of Risk
(1 mark) Audit procedure to address management
assertion ( 1 mark) and note the assertion (1
mark) 3 4

 

Barcelona vs Real Madrid Ricardo Gordon

Barcelona vs Real Madrid Ricardo Gordon

Subject: Business / Finance
Question
Previously, there was an assignment on the context in which corporations exist among the various stakeholders at issue. You were to identify three important stakeholders for a corporation, and then explain the role that each stakeholders plays within the corporation. Additionally, you must explain how they influence one another.

The goal of this assignment is to extend that assignment by writing a short paper in which you answer the following: What do you consider as the most important stakeholder? Is it important for corporations to focus on maximizing shareholder wealth? Explain in your own words where each of the major stakeholders is represented within the financial statements of the corporation. You should be able to discuss at least four major stakeholders at this point. For example, the customers provide sales revenue and are represented within the income statement sales revenue figures.

Your response should demonstrate thoughtful consideration of the ideas and concepts presented in the course by providing new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards where appropriate. Be sure to adhere to Northcentral University’s Academic Integrity Policy.

Length: 1-2 pages

Create an assessment in which you address the following problems/questions:

Assess the relevant cash flows used to form a capital budgeting decision model. For this assignment, focus upon an expansionary problem.
Evaluate the cost of capital (WACC) for use in a capital budgeting decision model. Make sure to define each component of the formula. Explain how the resulting cost of capital (WACC) is used within a capital budgeting model. How can the Capital Asset Pricing Model contribute to this analysis? Explain.
Weigh each of the following decision metrics that can be used within a capital budgeting decision model: net present value, internal rate of return, modified internal rate of return, payback period, and discounted payback period. Explain how each metric is formed and discuss the critical value of each in forming conclusions within a capital budgeting decision model. Discuss which method has the strongest basis for being used and under which conditions each might be the preferred method.
Develop a capital budgeting decision model that displays cash flows, cost of capital, and decision metrics (i.e., npv, irr, mirr, payback, and discounted payback). Then, form a conclusion based upon the analysis. What are some problems with the payback period? Is NPV better than IRR? Begin with the example problem on pages 405 and 406 of the textbook, Table 12.1. Modify the problem in the following manner, and then develop the analysis within an Excel spreadsheet.
Assume the units sold are 2,700,000 in year 2013, and they grow each subsequent year at 5%.
Assume each unit will sell for $2.10.
Assume the variable cost of producing each unit is 1.10.
Assume straight-line depreciation.
The cost of capital is calculated based upon funding from retained earnings and from debt. The company is assumed to fund itself with 50% debt and 50% retained earnings. The cost of debt capital, rD, is 7%. The cost of capital from retained earnings, rS, is based upon the capital asset pricing model. The risk free rate in the market is 5% and the difference between the expected return on the market and the risk free rate is 5%. The beta for the company is 2.0. The tax rate is assumed to be 40%.
Complete a sensitivity analysis in which you reevaluate the model considering the selling price per unit is 1.90, 2.00, 2.10, 2.20, and 2.30. Present and comment on the results.
Assume all other assumptions as given.
Support your paper with at least three (3) resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included. Your paper should demonstrate thoughtful consideration of the ideas and concepts presented in the course by providing new thoughts and insights relating directly to this topic.

Your response should reflect scholarly writing and current APA standards. Be sure to adhere to Northcentral University’s Academic Integrity Policy.

Length: 5-7 pages (not including title and reference pages)

 

Research Paper Annotated Bibliography

Research Paper Annotated Bibliography

Subject: General Questions / General General Questions
Question
Here are the instructions: It has to be based off my topic for Reagan. It can be one of these. The professor doesn’t want me to discuss the whole cold war but pick some involvement that Reagan had when he was in office and how he influenced it, here are questions the professor suggested ~ Remember that you are not discussing the entire cold war. How did Reagan change the nature of the conflict during the Cold War? He made slips of the tongue on radio. How did British Prime Minister Thatcher influence his views? What kind of personal relationship did he develop with his Soviet counterpart Gorbachev?

Research Paper Annotated Bibliography

I am including the section describing an annotated bibliography within the syllabus. First of all, you must have ten reputable quality academic resources. Do not include Wikipedia or an encyclopedia or anything written for teachers of pre-college level students. You might find this useful as you begin reading about your topic but discard the bicycle training wheels and do not list or quote from them. You must include at least 10 sources. Primary sources are written by a participant or a first hand observer. Anything that relies on published research is a secondary source. I must see at least two primary sources. All sources must use the Chicago citation format. A url is not acceptable without the full publication detail – name of journal, date, number, pagination or record group and file in the event of archival citation. Who is the author – what scholarly training and experience do they have that enables you to determine their authority?

As an example, I have cited a book I read in graduate school and have incorporated into Middle Eastern history classes I have taught at several universities. The copy I currently have is the 1993 edition. When you find multiple cities of publication, the first city suffices. When you see multiple publication dates, use the most recent (it is usually edited and perhaps updated). The key to an annotation is identifying the author’s credentials, providing full citation information, and explaining why it is important which is a discussion of the information (if unique) or insight (in all instances).

Editions and translation information are important. An English translation can omit key information included in the original publication. Indicate which edition you are using.

Research Paper Annotated Bibliography

Write an annotated bibliography. This will list and describe a minimum of 10 primary and secondary sources, with specific requirements detailed below, that you may use in your paper.

The annotated bibliography should involve a variety of primary and secondary sources, including at least two primary sources and articles from at least two academic journals; it should not include encyclopedias (including Wikipedia), dictionaries, or non-professional websites. Each annotation should include a full, properly formatted Chicago style citation including evidence of the author’s professional academic background or relative occupational experience, one to two paragraphs detailing the basic argument of the work, the type of evidence used to prove the thesis, and an explanation of the value of the information to your paper. This is not a mere reiteration of the fact that you consider it useful. Carefully explain why.

Here would be an example of an acceptable annotated bibliographic entry:

Princeton University Professor Emeritus Bernard Lewis’ THE ARABS IN HISTORY (New York: Harper, 1993) is a brief scholarly survey of the contributions of Arabic civilization. This highly erudite text effectively conveys the most important precepts of Islamic culture as a foundation for understanding American political intervention in the Middle East during the early Cold War era.

Here is where to get the sources: https://www.umuc.edu/library/index.cfm

 

BUS2 130 Online Project Marketing Environment Analysis

BUS2 130 Online Project Marketing Environment Analysis

Subject: Business / Management
Question
An underlying assumption of the introduction to marketing course is that students learn best and retain more when they actively apply and work with the concepts presented in the course materials rather than simply read about them. Therefore, the purpose of this assignment is to apply concepts and knowledge learned in class to real situations to enhance your understanding.

A marketing environment analysis is an examination of the major external forces and trends that have impacted or may impact a market and thus present opportunities and threats for marketers. It involves an assessment of the key components of a company’s task (micro) environment and macroenvironment (please see Chapter 3). This information is necessary input into the development of a strategic plan for companies who are involved or plan to become involved in the industry.

Project Summary

Your short paper should contain the following two parts.

Part 1.

Examine the current market micro and macro environmental situation for an industry of your choice (for example, please see the list on page. 5). That is, explore the market, customer, competitive, distribution, demographic, economic, ecological, technological, political/legal, and cultural situations for the industry with particular emphasis on those changing environmental factors that may provide opportunities and threats for companies in the industry (see Chapter 3 for more details; This is primarily sections II and III below).

Part 2.

Demonstrate your understanding of core marketing concepts we learned in this class that you have not incorporated into Part 1. A partial list of the concepts that should be addressed is provided below (Section IV). You are not limited to this list. Examples, both real (preferable) and conjectural (i.e., things that you think are likely), should be provided to demonstrate your understanding. Most of these concepts should be addressed in your industry analysis (i.e., Part 1). You do not need to repeat any of the core concepts that are covered in Part 1.

While all parts of this project are important, the demonstration of your understanding and ability to use core marketing concepts is very important. Regardless of the section (Part 1 or Part 2) in which you discuss the core concepts, please use bold type to highlight the concepts.

Please note that this assignment will be completed individually. Your written report should conform (more or less) to the format listed below. The body of the analysis should not exceed six-seven double-spaced typed (12-point type) pages. However, extensive use of appendices (such as charts, tables, industry-related ads etc.) is acceptable. The page count begins with the “Task (micro) Environment Description” (point II. in the format given below) and not with the summary or table of contents. Each item in the appendix must be individually referenced in the body. References (i.e., sources of information) must be cited in the main text (include author’s name, year) and listed in a reference section (section VI).

As with all written assignments, your analysis will be evaluated on its professional appearance, readability, and apparent effort, as well as on its content.

Cover Page (Your Name, Your Industry)

Table of Contents

I. Summary

This is a summary of the key points found in the marketing environment analysis.

II. Task (micro) Environment Description

This section addresses the competitive conditions of firms doing business for the product category. The questions provided are examples of the items that should be covered; they are not exhaustive.

A. Markets

What is the current market size, the growth potential for the immediate future (next five years), and geographical distribution in this product category?

B. Customers

What buying behavior patterns impact this product category? How is the market segmented and what are the most effective vehicles to reach the segments? How do consumers rate the competitors on reputation, product quality, service, sales force, price, etc.?

C. Competitors

Who are the major competitors? Describe them in terms of their size, market share, product positioning strategies, or any other characteristics that are appropriate to understanding competitive intentions and behavior. What trends will affect future competition and substitutes for this product?

D. Distribution

What are the different ways that products in this category are distributed and promoted? Are there any potential changes in the importance of the varying distribution and promotional approaches?

III. Macroenvironment Description

This section describes broad macroenvironmental trends. It concerns the demographic, economic, ecological, technological, political/legal, and cultural factors which are of relevance to an understanding of the market.

A. Demographic

What major demographic developments and trends pose opportunities or threats to firms doing business in this product category?

B. Economic

What major macroeconomic (national, international) developments in income, prices, savings, and credit may affect firms doing business in this product category?

C. Ecological

What is the outlook for the cost and availability of natural resources and energy needed by firms doing business in this product category? What environmental legislation or negative publicity is of issue?

D. Technological

What major technological changes are occurring that would affect business in this product category?

E. Political/Legal

What laws or regulations are being considered that could affect marketing strategy and tactics?

F. Cultural

What broad cultural or subcultural patterns affect the public’s attitude towards the firms and/or products of the firms doing business in this product category?

IV. Additional Application of Core Marketing Concepts

This section should address (if not addressed above), but not be limited to the following concepts. You are encouraged to explore how any other concept from the text or class discussions applies (or could be applied) to your industry. You are encouraged to document your discussion with real-life examples, as well as such things as product advertisements that demonstrate application of the concepts. You may also provide creative examples.

Core Concepts (examples—i.e., partial list)

Marketing Concept

Consumer Needs and Wants
Customer satisfaction
Relationship marketing

Consumer equity

Portfolio Analysis

Marketing Mix

Market Segmentation

Market Targeting

Differentiated, Undifferentiated, and Concentrated Marketing
Market Positioning

Competitive advantage and differentiation strategies
Macroenvironmental Impact

Reference Group Influence/Appeals

Consumer Involvement

Total Product Concept

Brand Equity

Brand Strategies

Product Line and Mix decisions

Product Life Cycle

Pricing Approaches

Distribution Channel Functions

Vertical Marketing Systems

Advertising/Sales Promotion/and Public Relations Strategy and Approaches

Global Product/Promotion Strategies

V. Appendix

–e.g., Charts, Graphs, Tables Perceptual Maps, Advertisements that illustrate concepts, etc.

VI. References (APA or MLA styles preferred)

You may use scholarly articles, industry sources, popular press, the Internet, as well as personal interviews as sources of information. In fact, it is expected that you will use most of these sources. Further, examples from industry-related advertising, popular press articles, and personal experience should be used to demonstrate your understanding. Do not rely solely on Internet searches (Google is not a substitute for the library).

BE SURE ALL SOURCES OF INFORMATION ARE APPROPRIATELY REFERENCED IN THE BODY OF YOUR REPORT AND LISTED IN THE REFERENCE SECTION.

Submission:Submit your paper online on Canvas by the deadline indicated in the course syllabus. Please note that late assignment will be subject to point deduction.
List of Industries (you are not limited to one of the industries on this list)

Apparel

Fast-Food Restaurants

Department Stores

Solar-Energy

Fast-Casual Restaurants

Beverage (e.g., beer, soft drinks)

Tobacco

Automobiles

Casino

Airline

Oil

Telecommunications (e.g., AT&T, Verizon)

Consumer Electronics (e.g., computer, smart phones)

Healthcare

Banking

Cosmetics

Education

Transportation

Music

Sports

 

PARTNERSHIP TAX RETURN PROBLEM

PARTNERSHIP TAX RETURN PROBLEM

Subject: Business / Accounting
Question
PARTNERSHIP TAX RETURN PROBLEM Required:

• For 2015, complete Aspen Ridge limited partnership’s page 1 of Form 1065; complete Schedule K on page 4 of Form 1065; complete lines 1 and 2 of the Analysis of Net Income (Loss) at the top of page 5 of Form 1065; and complete Schedules M-1 and M-2 at the bottom of page 5 of Form 1065. Finally, complete Mark Sullivan’s Schedule K-1. • Form 4562 for depreciation is not required. Include any tax depreciation or Section 179 expense on the appropriate line of page 1 of Form 1065 or Schedule K. • If any information is missing, use reasonable assumptions to fill in any gaps. • The forms, schedules, and instructions can be found at the IRS Web site (www.irs.gov). The instructions can be helpful in completing the forms. Facts: The Aspen Ridge limited partnership was formed on April 1, 2009, by Mark Sullivan, its general partner, and two other limited partners when they each contributed an equal amount of cash to start the new enterprise. Aspen Ridge is an outdoor equipment retailer selling camping, fishing, skiing, and other outdoor gear to the general public. Mark has a 33.33% profits, loss, and capital interest and the limited partners hold the remaining 66.66% of the profits, loss, and capital interests. Their profits, loss, and capital interests have remained unchanged since the partnership was formed. Mark is actively involved in managing the business while the limited partners are simply investors. • Aspen Ridge is located at 1065 North 365 South, Ogden, Utah 84401. • The employer identification number for Aspen Ridge is 85-8976654. • Aspen Ridge uses the accrual method of accounting and has a calendar year-end. • Mark’s address is 543 Wander Lane, Holliday, Utah 84503 and his Social Security number is 445-27-3484. The following is Aspen Ridge’s 2015 income statement for books:

PARTNERSHIP TAX RETURN Required:
For 2015, complete Aspen Ridge limited partnership’s page 1 of Form 1065; complete Schedule K on page 4 of Form 1065; complete lines 1 and 2 of the Analysis of Net Income (Loss) at the top of page 5 of Form 1065; and complete Schedules M-1 and M-2 at the bottom of page 5 of Form 1065. Finally, complete Mark Sullivan’s Schedule K-1.
Form 4562 for depreciation is not required. Include any tax depreciation or Section 179 expense on the appropriate line of page 1 of Form 1065 or Schedule K.
If any information is missing, use reasonable assumptions to fill in any gaps.
The forms, schedules, and instructions can be found at the IRS Web site (.irs.gov/”>irs.gov). The instructions can be helpful in completing the forms.
(See attached file for more details regarding this project.)Please submit the tax return and supporting schedules in the Assignments tab as one PDF file by 11:59 p.m. on the due date!

 

BIO 112 – Jan, a 60 year-old type I diabetic on insulin

BIO 112 – Jan, a 60 year-old type I diabetic on insulin

Subject: Biology / General Biology
Question
Jan, a 60 year-old type I diabetic on insulin for many years, is brought to the emergency department where you are working triage. She has an extremely swollen right lower leg. You see what appears to be an old surgical wound in the mid-calf, with rough scar tissue surrounded by purplish-red skin. She is in a lot of pain and her husband speaks for her. He tells you that three weeks ago she had several moles removed from that area. The area had appeared to heal initially, but three days ago the incision area started looking bigger rather than smaller. She did not return to the physician, hoping the condition would resolve itself. In the past three days the area has begun to swell and become very red, hot and is spreading down the calf.

You immediately call Dr. Phil Good Soon who is making rounds because you know that this is a serious condition.The patient is sent straight to surgery where the wound is debrided. Gram-positive cocci growing in chains are recovered from the wound. She is transferred to intensive care and put on high-dose intravenous antibiotics for the next 18 hours, but the next evening her leg is amputated below the knee. She remains in the hospital for two months following surgery and requires long-term antibiotic therapy and multiple skin grafts on her upper leg.

1. What condition did this patient have?

2. What features suggest that it is not Clostridium perfringens gangrene?

3. Why was amputation the best solution for the infection in this case?

4. How is the bacteria acquired?

5. What are some predisposing factors for development of this disease?

6. The disease may destroy tissues as fast as the surgeon removes it. A mortality rate exceeding 40% is a result of what? (tip: what causes the dead tissue?)

 

TAX4001– WRITING PROJECT

TAX4001– WRITING PROJECT

Subject: General Questions / General General Questions
Question
It is the end of the tax-year, and Kate and Sam Smith need your help completing pages 1 and 2 of Schedule 1040 and Schedule A.

Kate Smith (SS # 555-55-5555)
Sam Smith (SS# 444-44-4444)

33 Oak Street Drive
San Diego, California 91911

The taxpayers are 52 years old, file Married Filing Jointly, and have two children:

Elizabeth Smith (SS # 333-33-3333)
Jonathan Smith (SS# 222-22-2222).

For this problem, assume their gross income is $185,300.

This year Kate got a new job, and the Smiths moved to a new city. The new job was located within the same state about 650 miles away from their old house. Before the move, the family went on a house hunting trip that cost them $700. They also hired a moving company for $2,800. On their way to their new house they spent $50 on meals, and $75 on a hotel room. They also stopped by an amusement park and spent $80 on tickets for the day.

The Smiths paid $12,000 in interest on their home mortgage this year, and $2,500 in real estate taxes on their new home. They also paid $1,200 in personal credit card interest, and Kate paid $850 in interest on student loans.

Sam was hospitalized with a heart condition this year, which required him to undergo surgery. The Smiths incurred $25,000 in medical expenses as a result of Sam’s illness. Of this amount, $18,000 was reimbursed by the insurance company.

During the year the Smiths contributed $1,500 cash to the Salvation Army. Before their move, the family donated clothes and furniture that they had purchased for $650 to Goodwill. At the time of donation the items were worth $300. They also gave some old baby furniture to their friends that was valued at $150.

Sam Smith paid $200 in union dues for the year, and the family pays $250 for tax return preparation services.

Kate and Sam Smith Investment Opportunities
Here are the three different investment opportunities you have identified for the Smiths, all with the same amount of risk:
1. Taxable corporate bonds that pay 4.75 percent interest annually.
2. A high-dividend stock that pays 4 percent dividends annually but has no appreciation potential.
3. Tax-exempt municipal bonds that pay 3.5 percent annually.
Kate and Sam have a marginal tax rate of 30 percent (capital gains rate of 15 percent).
Investment Choice Computation After-Tax Return
1. Corporate Bond
2. High-dividend stock
3. Municipal bond
Here are the three basic tax planning strategies, and the features of taxation each of them exploits:

 

TAX4001-WRITING PROJECT AND PRESENTATION

TAX4001-WRITING PROJECT AND PRESENTATION

Subject: General Questions / General General Questions
Question
TAX4001– WRITING PROJECT AND PRESENTATION

PROJECT INFORMATION:

You are a manager at a local accounting firm, and Kate and Sam Smith are your clients. It is the end of the year, and they have come to ask your advice on some tax planning strategies, as well as help preparing their tax return.

Smith Tax Return Information.doc

Writing Project – Week 1 Smith Investment Opportunities.xls

COURSE OBJECTIVES COVERED: 1-7

PROJECT REQUIREMENTS:

This project is split into four (4) parts with one (1) part due each week of the course. Based on your readings, use of technology, literature, and other sources do the following:

Early next year, Kate and Sam Smith will inherit $200,000. Kate and Sam are trying to decide how to invest this money and have asked you, their tax accountant, to look into some potential investment opportunities. Please see the attached excel spreadsheet, where you will complete the annual after-tax rates of return column for each investment opportunity you have identified. Include a paragraph on the spreadsheet where you list the three basic tax planning strategies, and the features of taxation each of them exploits.

It is the end of the tax-year, and Kate and Sam Smith need your help completing pages 1 and 2 of Schedule 1040 and Schedule A.Please see the attached document with the information you will need to complete these forms, and submit a draft return.Tax forms can be obtained from the IRS website. **Be sure you save the form to your computer BEFORE you fill in any information or your data will be lost when you save the file with the data entered. Once saved, access the saved form from your computer, not the web browser.**

Based on the feedback you received last week, finalize the Smith’s tax returns.Write a 4 page letter to Kate and Sam Smith which:

Walks them through their current year tax return.Detail which expenses they incurred that were nondeductible for tax purposes, and explain why.

Looks forward to the next tax year.

Regarding the investment opportunities you calculated in week 1, explain:

Which investment opportunity you would recommend.

What the conversion tax planning strategy is, and which of these investments employ this strategy.

How “implicit taxes” may limit the benefits of the conversion strategy.

Jonathan Smith will be headed to college in the fall, provide an overview of the various education tax credits they may be able to take advantage of on next year’s return.

Present your findings as if you were presenting them to the clients.

WRITING REQUIREMENTS:

The letter should be 4 pages in length. Include the Excel spreadsheet which calculates the annual after-tax rate of returns.

The Smith Family have been tax clients for years so the tone of letter should be positive and helpful.

All sources used are to be submitted in APA format.

Please use the writing center if needed.

TECHNOLOGY/COLLABORATIVE ACTIVITY:

You will be presenting and discussing your findings to the class using the voice-over feature in PowerPoint or YouTube.

Please be sure the audio is clear and the file or link is accessible in the Week 4 Presentation discussion board.

You will be using Excel to calculate the annual after-tax rate of return for the potential investment opportunities.

You will comment to other classmates on their presentations as if you were the Smith’s trying to understand any adjustments made and/or answer any questions presented.

ASSIGNMENT DUE DATE SCHEDULE:

Week 1: Submit a spreadsheet calculating the annual after-tax rate of return.

Week 2: Submit a draft of the appropriate tax forms.

Week 3: Submit the final tax forms and a letter to the clients.

Week 4: Present and discuss your ideas using PowerPoint.