Question 1
Dear Tutor. I do exactly what you tell me to do but still you don't accept my re-submission. Regarding the number of words I can't say. The questions must be fully answered. That might be one page length for a question.,Dear Tutor. I am not satisfied with the answers. First of all in the five separate submissions you have answered 4 of the five questions. Some questions have a couple of parts which you didn't answer. In addition in the solution attachement you have sent me instead os sending me the corresponding solutions you sent me the 10k report. In the attachment with the four answers it is not clear which question corresponds to which question. Like I said the questions should be fully answered even if that's a page each. I am sorry but I must say I am disappointed. I expected that the questions would be fully answered.,What is the QID?,Can you please tell me exactly what I have to do so my questions are fully answered. Once again what is QID,Dear Tutor, This is the tenth time I am sending an attachment and you can verify it yourself. Once again I will do exactly what you tell me and hopefully this time I will get my assignment fully answered. Please read the instructions very carefully and follow everything that is says. It is VERY important that you follow every single direction that is given. The length of the assignment cannot be specified. As long as all of the questions are fully and clearly answered it is fine. The only question that requires specific length is question 6. The details are included in the attachment. Thanks.,Dear Tutor, this is the the complete assignment. If you have this attachment then you can do exactly what I need. In addition I have no CLUE on where to find the QID. You have the assignment but you are still asking me to give you the QID's which I said I don't know how to find that ID number. Why does it have to be such a torture to get help from coursehero?,Dear Tutor, this is the the complete assignment. If you have this attachment then you can do exactly what I need. In addition I have no CLUE on where to find the QID. You have the assignment but you are still asking me to give you the QID's which I said I don't know how to find that ID number. Why does it have to be such a torture to get help from coursehero?,Dear Tutor, this is the the complete assignment. If you have this attachment then you can do exactly what I need. In addition I have no CLUE on where to find the QID. You have the assignment but you are still asking me to give you the QID's which I said I don't know how to find that ID number. Why does it have to be such a torture to get help from coursehero?,By the way the last attachment I sent you is the complete assignment with all six questions. If this is not what you have then it you are not looking at the last one I sent you.
Question 2
As outlined in the lecture this week, an incubator is a large firm that nurtures many companies and invests in business ideas. Incubators provide support in many ways and you would like to submit your idea to Rollins Incubator, Inc. in order to benefit from their management and financial support. Your Assignment You are an entrepreneur that wants to be funded by Rollins Incubator, Inc. You have an outstanding idea that needs funding and you feel that bringing your idea to an incubator would increase your chances of success. You have contacted Janet Rodgers, the Vice President of Business Development of Rollins Incubator, Inc., and she told you that you will have 5 minutes with the Michael Rollins, the CEO of Rollins Incubator, Inc. K E Y P L A Y E R S Click Here to View the You Decide Scenario Click on the link to review the Scenario, Your Role, and the Key Players involved in this scenario. When you have finished reviewing the You Decide scenario, please return here to finish the activity below. Note: These activities will open in a new pop-up window, so you may need to disable any pop-up blockers. Click for Transcript Y O U D E C I D E Activity/Assignment Assignment Develop a 12-slide PowerPoint presentation to pitch your idea to Mr. Rollins. Your slideshow must be succinct, compelling, and should include the following elements. Slide 1: State your company name and motto, with a tagline and a date. Slide 2: Review business proposition, what will your business create? Slide 4: Share your objective, how much money do you need, and why you are here? Slide 3: Review technology platforms you intend to use. Slide 5: Provide current market review; detail the market; how big is the market? Slide 6: Provide forecast for current market. Slide 7: Market competition, who do you sell the product to and how big is that market? Slide 8: Review business model drivers, what makes you unique from the competition? Slide 9: Review potential risks. Slide 10: Review the management team with whom you will partner, including yourself. Slide 11: Financials; basic revenues and costs, and profits in a 3 to 5 year term. Slide 12: Amount of money needed to fund your idea, with a basic breakdown of where the money will go. Be sure to use the Notes section of the PowerPoint to highlight your presentation information. Keep these notes succinct as well. Grading Rubric: Category Points Description Criteria/Creativity 50 Demonstrate a strong substantiation of your idea. Demonstrate understanding of how the course concepts apply to the idea. Be sure to include the basic concepts and criteria required by the CEO. Your idea must be compelling and creative. Understanding 25 Develop high-level concepts and outline for your idea. Be sure to include all the elements required when presenting a business plan. The elements and slides that are required have been presented to you in the You Decide audio section, be sure to listen carefully, so you will be able to create your slides effectively. Ensure that you utilize the Notes section to outline any specifics you would talk about in your presentation. Execution 25 Make sure your slideshow is clear and succinct using strong organization and proper grammar. Use citations correctly. There will be an automatic 10-point deduction for any presentation over 12 slides. Total 100 A quality slideshow will meet or exceed all of the above requirements.
Question 3
Problem 21-3 "TUTOR PLEASE PLACE ANSWER IN A EXCEL SPREADSHEET THANK YOU Merger Bid eBook Hastings Corporation is interested in acquiring Vandell Corporation. Vandell has 1 million shares outstanding and a target capital structure consisting of 30% debt. Vandell's debt interest rate is 7.5%. Assume that the risk-free rate of interest is 4% and the market risk premium is 7%. Both Vandell and Hastings face a 30% tax rate. Vandell's free cash flow (FCF0) is $1 million per year and is expected to grow at a constant rate of 4% a year; its beta is 1.50. Hastings estimates that if it acquires Vandell, interest payments will be $1,600,000 per year for 3 years after which the current target capital structure of 30% debt will be maintained. Interest in the fourth year will be $1.472 million after which interest and the tax shield will grow at 4%. Synergies will cause the free cash flows to be $2.5 million, $2.7 million, $3.5 million, and then $3.69 million, after which the free cash flows will grow at a 4% rate. Assume Vandell now has $10.84 million in debt. QUESTION 1.)Indicate the range of possible prices that Hastings could bid for each share of Vandell common stock in an acquisition. Round your answers to the nearest cent. The bid for each share should range between $_____ per share and $______ per share
Question 4
"Franks Fabricating uses job costing and applies overhead using a normal costing system and uses direct labor cost as the allocation base. This period's estimated overhead cost is $100,000 and estimated direct labor cost of $50,000 and 2,500 direct labor hours. Direct Direct Direct Materials Labor Cost Labor Hours Job 200 $ 500 $ 800 40 Job 201 350 200 10 Job 202 1,000 600 30 Reference: Ref 5-1 What is the overhead allocation rate? 30% 50% 60% 200%O'Hare Sisters Manufacturing uses job costing and applies overhead using a normal costing system using direct labor hours as the allocation base. This period's estimated overhead cost is $400,000, estimated direct labor cost is $500,000 and estimated direct labor hours are 25,000. This period actual overhead cost was $420,000, actual direct labor cost was $390,000, and actual direct labor hours were 20,000. Direct Direct Direct Materials Labor Cost Labor Hours Job 400 $ 200 $ 800 40 Job 401 250 200 10 Job 402 500 600 32 Reference: Ref 5-2 What is the total manufacturing cost of Job 400? $1,200 $1,320 $1,000 $1,640 9(M/C) Kelita's Kar Kare Kompany had the following cost and inventory data for the month.? Reference: Ref 5-5 What were the direct materials available for the month? $7,800 $4,500 $6,300 $6,000 ? 11(M/C) Kelita's Kar Kare Kompany had the following cost and inventory data for the month.? Reference: Ref 5-5 Assume that the total production costs incurred for the month were $15,000. What was the cost of jobs completed? $19,050 $15,450 $15,000 $14,550 Asadi Company uses a job costing system and allocates overhead using an estimated overhead allocation rate based on direct labor hours. Information for 20x5 is as follows: Estimated Actual Manufacturing overhead $166,500 $165,000 Direct labor hours 50,000 60,000 ? ? ? Reference: Ref 5-6 The overhead allocated to work-in-process during 20x5 before the year-end adjustment was $165,000 $199,800 $166,500 $198,000 15(M/C) Asadi Company uses a job costing system and allocates overhead using an estimated overhead allocation rate based on direct labor hours. Information for 20x5 is as follows: Estimated Actual Manufacturing overhead $166,500 $165,000 Direct labor hours 50,000 60,000 ? ? ? Reference: Ref 5-6 The amount of over- or underapplied overhead for 20x5 was $34,800 overapplied $3,000 underapplied $1,500 overapplied $1,500 underapplied" - Sent to Accounting Expert Tutor on 4/2/2011 at 3:50pm
Question 5
True or False 1. Similar to like-kind exchanges, the receipt of ?boot? under ? 351 can cause gain to be recognized. 2. Tina incorporates her sole proprietorship with assets having a fair market value of $100,000 and an adjusted basis of $110,000. Even though ? 351 applies, Tina may recognize her realized loss of $10,000. 3. The definition of property for purposes of ? 351 includes unrealized receivables transferred by a cash basis taxpayer. 4. A secret process and patentable inventory both constitute ?property? under ? 351. Consequently, neither gain nor loss is recognized on the transfer of such ?property? to a controlled corporation. 5. Since services are not considered property under ? 351, a taxpayer must report as income the fair market value of stock received for such services. 6. The receipt of nonqualified preferred stock in exchange for the transfer of appreciated property to a controlled corporation results in recognition of gain to the transferor. 7. The use of ? 351 is not limited to the initial formation of a corporation, and it can apply to later transfers as well. 8. In determining whether ? 357(c) applies, assess whether the liabilities involved exceed the bases of all assets a shareholder transfers to the corporation. 9. When a taxpayer transfers property subject to a mortgage to a controlled corporation in an exchange qualifying under ? 351, the transferor shareholder?s basis in stock received in the transferee corporation is increased by the amount of the mortgage on the property. 10. To ease a liquidity problem, all of the shareholders of Osprey Corporation contribute additional cash to its capital. Osprey has no tax consequences from the contribution. 11. A distribution from a corporation will be taxable to the recipient shareholders only to the extent of the corporation?s E & P and any excess over the basis in the stock investment. 12. Cash distributions received from a corporation with a positive balance in accumulated E & P at the beginning of the year will always be taxed as dividend income. 13. Any distribution in excess of E & P is treated as a tax-free recovery of capital by shareholders. 14. When a corporation makes an installment sale, for E & P purposes the realized gain is recognized as payments are received. 15. A corporation borrows money to purchase State of Wisconsin bonds. The interest on the loan has no effect on either taxable income or current E & P. 16. Federal income tax paid in the current year must be subtracted from taxable income to determine E & P. . 17. The amount of dividend income recognized by a shareholder from a property distribution is always reduced by the amount of liabilities assumed by the shareholder. 18. A constructive dividend must satisfy the legal requirements of a dividend as set forth by applicable state law. 19. The rules used to determine the taxability of stock dividends also apply to distributions of stock rights. 20. In applying the stock attribution rules to a stock redemption, stock owned by a partnership is deemed to be owned in full by a partner of the partnership. 21. A liquidation can occur for tax purposes even though the corporation has retained some assets to pay remaining debts and preserve legal status. 22. As a general rule, a liquidating corporation recognizes gains and losses on the distribution of property in complete liquidation. 23. In a complete liquidation (not a parent-subsidiary liquidation), a shareholder typically recognizes dividend income equal to his or her share (i.e., stock ownership percentage) of the liquidating corporation?s E & P. 24. Section 332 cannot apply to a parent-subsidiary liquidation if the subsidiary corporation is insolvent on the date of the liquidation. 25. A subsidiary is liquidated pursuant to ? 332. The parent has held 100% of the stock in the subsidiary for the past ten years. The subsidiary has a business credit carryover of $30,000 at the time of liquidation. The parent does not acquire the business credit carryover. 26. If a parent corporation makes a ? 338 election, the subsidiary corporation must be liquidated. 27. United States tax policy tries to encourage business development. 28. For a corporate restructuring to qualify as a tax-free reorganization, the transaction must comply with the step transaction doctrine. 29. A corporate reorganization in the form of an exchange of stock does not qualify as a like-kind exchange. 30. Debt security holders receive similar treatment to shareholders in a corporate reorganization, as long as the face value of the debt relinquished is equal to the debt received. 31. Unlike a subchapter C corporation, a partnership is subject to only one level of taxation and can often liquidate in a tax-deferred manner. 32. Section 721 provides that no gain or loss is recognized on contribution of property to a partnership in exchange for an interest in the partnership. An exception might apply if the taxpayer receives a cash distribution from the partnership soon after the property contribution. 33. Jim and Nancy formed an equal partnership on June 1 of the current year. Jim contributed $10,000 cash and land with a basis of $8,000 and a fair market value of $6,000. Nancy contributed equipment with a basis of $14,000 and a value of $16,000. Nancy?s tax basis in her interest is $14,000; Jim?s tax basis is $18,000. 34. The XYZ Partnership, a calendar year taxpayer, was formed on April 1 of the current year. It incurred $23,000 of legal fees on formation. XYZ may deduct $5,000 and amortize the remaining $18,000 over 180 months, for $900 in the current year. 35. PaulCo, DavidCo, and Ralph form a partnership with cash contributions of $80,000, $50,000 and $30,000, respectively, and agree to share profits and losses in the ratio of their original cash contributions. PaulCo uses a January 31 fiscal year-end, while DavidCo and Ralph use a November 30 and December 31 fiscal year-end, respectively. Since PaulCo is a majority partner, this partnership will use a January 31 year-end. 36. Meagan purchased her partnership interest from Lisa on the first day of the current year for $30,000 cash. She received a $15,000 cash distribution from the partnership during the year, and her share of partnership income is $12,000. If her share of partnership liabilities on the last day of the partnership year is $10,000, her outside basis for her partnership interest at the end of the year is $27,000. 37. Bill?s basis in his 20% interest in the BMW Partnership was $10,000 on the first day of the current tax year. The partnership reported ?book? (GAAP) income of $60,000 (net of a deduction for a guaranteed payment made to Bill of $40,000). There were no other differences between book and tax income. Bill?s ending basis in his partnership interest is $22,000, and he will report income items from the partnership totaling $52,000. 38. Loss will be recognized on any distribution in which cash, unrealized receivables, and/or appreciated inventory are the only items distributed. 39. Terry received a proportionate share of partnership inventory in complete liquidation of her partnership interest. If Terry holds the distributed property as a capital asset for six years and sells it for a gain, the gain is taxed as a long-term capital gain. 40. A limited liability company generally provides limited liability for those owners that are not active in the management of the LLC but requires owner-managers of the LLC to have unlimited personal liability for LLC debts. 41. S corporations are treated as partnerships under state laws. 42. Liabilities affect the owner?s basis differently in an S corporation versus a partnership. 43. An S corporation cannot incur a tax liability at the corporation level. 44. NOL carryovers for C years can be used in an S corporation year. 45. An S election is made on Form 2550. 46. An S election made before becoming a corporation is valid the next 22-month tax year. 47. All tax preference items flow through the S corporation, to be included in the shareholders? AMT calculations. 48. In certain circumstances, an S shareholder?s basis in her S stock can be reduced below zero. 49. Any excess of losses or deductions over both stock and debt basis is lost forever. 50. Unreasonable compensation traditionally has been a problem for S corporations.
