Question 1
The Oxford Company has budgeted sales revenues as follows. April May June Credit sales $60,000 $48,000 $36,000 Cash sales 36,000 102,000 78,000 Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are all on credit, with 60% paid in the month of purchase and 40% in the month following purchase. Budgeted inventory purchases are $130,000 in April, $90,000 in May, and $42,000 in June. Other budgeted cash receipts include (a) the sale of plant assets for $24,700 in May and (b) the sale of new common stock for $33,700 in June. Other budgeted cash disbursements include (a) operating expenses of $13,500 each month, (b) selling and administrative expenses of $25,000 each month, (c) dividends of $38,000 to be paid in May, and (d) purchase of equipment for $12,000 cash in June. The company has a cash balance of $20,000 at the beginning of June and wishes to maintain a minimum cash balance of $20,000 at the end of each month. An open line of credit is available at the bank and carries an annual interest rate of 12%. Assume that all borrowing is done on the first day of the month in which financing is needed and that all repayments are made on the last day of the month in which excess cash is available. Also assume that $7,000 of financing was obtained on May 1. Requirements: Use this information to prepare a schedule of expected cash payments for purchases of inventory for the months of May and June only. (Points : 30),I need the answer by 830 pm tonight,If it can not be answered, let me know now please,Will it be done by 8:30? Please let me know.
Question 2
Suppose that during a give year: 1) the price of TV sets increases by 4 percent in Japan, 2) the dollar depreciates by 5 percent with respect to the yen (the Japanese currency), 3) consumer incomes in the United States increase by 3 percent, 4) the price elasticity of demand for imported TV sets in the United States is 1.5, and 5) consumers income elasticity of demand for TV sets in the United States is 2. a) if the price of the imported TV set was $300 in the United States at the beginning of the year, approximately how much would you expect the price of the same imported TV set to be in the United States at the end of the year? b) by how much would the quantity demanded of imported TV sets in the United States change as a result of the change in price only? c) by how much would the demand for imported TV sets in the United States change as a result of the increase in consumer income alone? d) by how much would the demand for imported TV sets in the United States change as a result of both the change in price and in incomes?,If possible, please advise of the steps taken to arrive at the correct answer. I sincerely appreciate your help. I want to know if I am doing these correctly. Thank you.
Question 3
5. Jacqueline Corporation acquired new office furniture on July 13, 2013, for $80,000. Jacqueline did not elect immediate expensing under Section 179. Jacqueline also elects not to take the additional first-year depreciation. Determine Jacqueline?s cost recovery for 2013. a. $80,000 b. $11,432 c. $8,000 d. $0 46. On August 5, 2013, Pavlina purchased a new office building for $2 million. On October 3, 2013, she began to rent out office space in the building. What is Pavlina?s cost recovery for 2013? a. $0 b. $10,700 c. $51,282 d. $2,000,000 47. Assume the same facts as in the previous problem. Assume further that Pavlina sells the office building on July 12, 2017. What is Pavlina?s cost recovery for 2017? a. $51,282 b. $27,777 c. $10,700 d. $0In March 2013, Dave, a calendar-year taxpayer, purchased new 7-year property for $1,000,000. The property was immediately placed into service (and is being used exclusively in Dave?s extremely profitable business). No other personal property will be purchased by Dave in 2013. Dave wants to take the largest possible tax deduction in 2013 relating to the equipment. Compute the largest tax deduction possible in 2013 for the equipment (consider the Section 179 election, Bonus Depreciation, and MACRS, if applicable): a. $1,000,000 b. $ 785,725 c. $500,000 d. $139,000 37. In 2007, John (a single taxpayer) loaned $10,000 to his friend Gregory. In 2013, Gregory declared bankruptcy, with the result that the debt became totally worthless. How should John treat the loss relating to this debt (assume that the debt is a nonbusiness debt that is a bona fide debt that arose from a debtor-creditor relationship)? a. John may not take any deduction relating to the debt (it is a nonbusiness debt) b. As a short-term capital loss c. As a long-term capital loss d. As an itemized deduction38. Assume the facts stated in the prior question. Assume further that John has no other capital gains or losses in 2013 (or any prior years). What is the maximum amount (related to the bad debt) that John can deduct in 2013? a. $10,000 b. $7,000 c. $3,000 d. $0 39. Assume the facts stated in the prior two questions. Assume further that for 2013 John will offset his wages (with any deduction related to the debt) to the maximum extent permitted by law. What is the amount of John?s capital loss carryover to 2014? a. $10,000 b. $7,000 c. $3,000 d. $0
Question 4
Write a 1,050-word paper in which you justify the importance of marketing research in the development of Kudler Fine Food?s marketing strategy and tactics, and identify the areas where additional market research is needed. Also, analyze the importance of competitive intelligence and analysis in regards to the development of Kudler Fine Food?s marketing strategy and tactics. Format according to APA standards. https://ecampus.phoenix.edu/secure/aapd/cist/vop/Business/Kudler2/internet/index.asp,We have traveled the world to bring you an extensive collection of domestic and imported wines and spirits. Whether you want to mix the quintessential martini or find the perfect wine to serve at your next dinner party, Kudler's is the place to shop. You will find that our stores carry a wide variety of spirits and at prices that will meet any budget. While we are proud of our wide selection, we certainly don?t want our customers to be intimidated, so each of our stores has a Wine Steward who will be more than happy to assist you in making your selection. We also hold monthly wine appreciation classes so you can learn the nuances of our wines. ABOUT KUDLER FINE FOODS Who we are Kudler Fine Foods is a local upscale specialty food store located in the San Diego metropolitan area. We have three locations (La Jolla, Del Mar and Encinitas). Each store has approximately 8,000 square feet of retail space located in a fashionable shopping center. We have the very best domestic and imported fare at every location. Visit one of our locations and browse our fine selection of: ?Bakery and Pastry Products ?Fresh Produce ?Fresh Meat & Seafood ?Condiments and Packaged Foods ?Cheese and Specialty Dairy Products Our Mission Our selections, coupled with our experienced, helpful and knowledgeable staff, merge to offer each customer a delightful and pleasing shopping outing. We will provide this service because we "shop the world" for our products; purchase only the finest of products; are highly selective in acquiring our team members; and will go to extensive lengths to assure that Kudler Fine Foods is the purveyor of choice for customers aspiring to purchase the finest epicurean delights. Our History Our founder, Kathy Kudler, was the Vice-President of Marketing for a large defense contractor. Weary of the constant travel and the pressures of corporate life, Kathy was looking for other opportunities. As it happened, Kathy relieved her stress through gourmet cooking and on a shopping trip for ingredients for a gourmet meal, she suddenly realized there was an opportunity for an upscale epicurean food shop in La Jolla. Kathy developed a business plan, obtained financing and six months later, on June 18, 1998, the first Kudler Fine Foods opened. Within nine months the store was at break-even and was profitable for the year. In 2000, a second store was opened in Del Mar and in 2003 our third shop opened in Encinitas.
Question 5
Paul Dobson Company sponsors a defined benefit plan for its 100 employees. On January 1, 2010, the company?s actuary provided the following information. Unrecognized prior service cost $175,000 Pension plan assets (fair value and market-related asset value) $225,000 Accumulated benefit obligation $280,000 Projected benefit obligation $364,000 The average remaining service period for the participating employees is 10 years. All employees are expected to receive benefits under the plan. On December 31, 2010, the actuary calculated that the present value of future benefits earned for employee services rendered in the current year amounted to $64,000; the projected benefit obligation was $479,400; fair value of pension assets was $308,500; the accumulated benefit obligation amounted to $379,000. The expected return on the plan assets and the discount rate on the projected benefit obligation were both 10%. The actual return on the plan is $13,500. The company?s current year?s contribution to the pension plan amounted to $70,000. No benefits were paid during the year. Instructions: (Round to the nearest dollar) (a) Determine the components of pension expense that the company would recognize in 2010. (b) Prepare the journal entry to record the pension expense and the company?s funding of the pension plan in 2010. (c) Indicate the pension amounts reported in the financial statement as of December 31, 2010.
