Question 1
Hello I am sending the problem again in an excel form Last part of it is below I need to have this completed by tomorow at 5 pm.Thank you so much!! last part of problem Organizational Expenditures: The corporation incurred 6,800 $ of organizational expenditures on January 2, 2006. For book purposes, the corporation expensed the entire expenditure. For tax purposes, the corporation elected under sec. 248 to deduct $ 5,000 in 2006 and amortize the remaining $1,800 amount over 180 months., with a full months amortization taken for January 2006. The corporation reports this amortization in Part VI of form 4562 and includes it in "Other Deductions" on form 1120, line 26. Capital gains and losses: The corporation sold 100 shares of PDQ corp. common stock on march 7, 2009, for 75,000 $. The corp. acquired on December 15, 2008, for $ 45,000. The corporation also sold 75 shares of JSB Corp. common stock on June 17, 2009, for $ 46,000. The corporation acquired this stock on September 18, 2006, for $ 60,000. The corporation has an $ 8,000 capital carryover from 2008. Fixed assets and Depreciation: For book purposes: the corporation uses straight- line depreciation over the useful lives of assets as follows: Store building, 50 years: Equipment, 15 years(old) and ten years(new) and trucks, five years. The corporation takes a half-years depreciation in the year of acquisition and the year of disposition and assumes no salvage value. the book financial statements reflect these calculations. For tax purposes: All assets are MACRS property as follows: store building , 39 yearnonrezidential real property: equipment, seven year property: and trucks five year property, and trucks , five year property. The corporation acquired the store building for 1$milion and placed it in service on january 2, 2006. The corporation acquired two pieces of equipment for 300,000 Equipment 1 and 600,000Equipment2. and placed them in service on january 2,2006. The corporation acquired the trucks for $200,000 and placed them in service on July 18,2007. The corporation did not make the expensing election under sec. 179 on any property acquire before 2009. Accumulated tax depreciation through December 31, 2008, on these properties is as follows: Store buildings $75,890 Equipment 1 168,810 Equipment 2 337,620 Trucks 104,000 On Nov. 16,2009. the corporation sold for $325,000 Equipment 1 that originally cost $300,000 on January 2,2006. the corporation had no sec.1231 losses from prior years. In a separate transaction on November 17,2009, the corporation acquired and placed in service a piece of equipment costing 850,000$These two transactions do not qualify as a like king exchange under reg. sec. 1.1031 (K)-1(a). The new equipment is seven year property. The corp. made the sec179 expensing election with regard to the new equipment and claimed bonus depreciation. Where applicable, use published IRS depreciation tables to compute 2009 depreciation( reproduced in Appendix C of this text). other information The corporation's activities do not qualify for the US production activities deduction. Ignore the AMT and accumulated earnings tax. The corporation received dividends ( see income statement) from taxable, domestic corporations, the stock of which Knoxville Musical Sales, Inc. owns less than 20 %. The corporation paid 85,000$ in cash dividents to its shareholders during the year and charged the payment directly to retained earnings. The state income tax in is the exact amount of such taxes incurred during the year. The corporation is not entitled any credits. REQUIRED: PREPARE THE 2009 CORPORATE TAX RETURN FOR KNOXVILLE MUSICAL SALES,INC. ALONGWITH ANY NECESARY SUPPORTING SCHEDULES. OPTIONAL: prepare schedule M3 and schedule B as well as schedule M-1 even though the IRS does not require both scheduleM1 and schedule M3
Question 2
Con-Aggie Manufacturing Company is studying the results of applying factory overhead to production. The following data have been used: estimated factory overhead: $60,000; estimated materials costs, $50,000; estimated direct labor costs $60,000; estimated direct labor hours 10,000; estimated machine hours 20,000; work in process at the beginning of the month, none. The actual factory overhead incurred for the month of November was $75,000, and the production statistics on November 30 are as follows: Job 101: Materials Cost $5,000; Direct Labor Costs $6,000; Direct Labor Hours 1,000; Machine Hours 3,000; Date Jobs Completed November 10. Job 102: Materials Cost $7,000; Direct Labor Costs $12,000; Direct Labor Hours 2,000; Machine Hours 3,200; Date Jobs Completed November 14. Job 103: Materials Cost $8,000; Direct Labor Costs $13,500; Direct Labor Hours 2,500; Machine Hours 4,000; Date Jobs Completed November 20. Job 104: Materials Cost $9,000; Direct Labor Costs $15,600; Direct Labor Hours 2,600; Machine Hours 3,400; Date Jobs Completed: In process. Job 105: Materials Cost $10,000; Direct Labor Costs $29,000; Direct Labor Hours 4,500; Machine Hours 6,500; Date Jobs Completed November 26. Job 106: Materials Cost $11,000; Direct Labor Costs $2,400; Direct Labor Hours 400; Machine Hours 1,500; Date Jobs Completed: In process. 1. Compute the predetermined rate, based on the following: a. direct labor cost, b. direct labor hours, c. machine hours. 2. Using each of the methods, compute the estimated total cost of each job at the end of the month. 3. Determine the under- or overapplied factory overhead, in total, at the end o fthe month under each of the methods. 4. Which method would you recommend, and why?,Thanks for the update. Carla,I am not an accounting fan nor do I understand the steps to complete these assignments. I appreciate you assistance, Carla
Question 3
Bamboo You, Inc. This company manufactures bamboo picture frames that sell for $20 each. Each frame requires 4 linear feet of bamboo, which costs $1.50 per foot. Each frame takes approximately .50 minutes to build, and the labor rate averages $10.00 per hour. Bamboo You has the following inventory policies: Ending finished goods inventory should be 40 percent of the next month's sales. Ending raw materials inventory should be 30 percent of the next month's production. Expected unit sales (frames) for the upcoming months follow: March 275 April 250 May 300 June 400 July 375 August 425 Variable manufacturing overhead is incurred at a rate of $.25 per unit produced. Annual fixed manufacturing overhead is estimated to be $7,200 ($600 per month) for an expected production of 4,000 units for the year. Selling and administrative expenses are estimated at $650 per month plus $.60 per unit sold. rev: 03-08-2011 Requirement 1: Sales Budget April May June 2nd Quarter Budgeted Sales (units) $ $ $ $ Unit Sales Price $ $ $ $ Budgeted sales revenue $ $ $ $ Requirement 2: Production Budget April May June 2nd Quarter Budgeted Sales (units) $ $ $ $ Ending finished goods inventory $ $ $ $ Beginning finished goods inventory $ $ $ $ Budgeted production $ $ $ $ Requirement 3: Raw Materials purchase budget April May June 2nd Quarter Budget production $ $ $ $ Material Requirements per unit $ $ $ $ Total Material needed for production $ $ $ $ Ending Raw Materials inventory $ $ $ $ Beginning raw materials inventory $ $ $ $ Budgeted Raw Materials Purchases $ $ $ $ Material Cost per foot $ $ $ $ Budgeted cost of raw material purchases $ $ $ $ Requirement 4: Direct Labor Budget April May June 2nd Quarter Budgeted Production $ $ $ $ Direct labor requirements per unit $ $ $ $ Direct Labor Hours Required $ $ $ $ Direct Labor Rate $ $ $ $ Budgeted direct labor cost $ $ $ $ Requirement 5: Manufacturing overhead cost budget April May June 2nd Quarter Budgeted Production $ $ $ $ Variable manufacturing overhead rate $ $ $ $ Budgeted Variable manufacturing $ $ $ $ Fixed Manufacturing overhead $ $ $ $ Budgeted Manufacturing overhead $ $ $ $
Question 4
(Note: I need the solution before 11:00 P.M) Problem 9-5A Analyzing and journalizing notes receivable transactions L.O. C2, C3, P3 The following selected transactions are from Ohlde Company: 2010 Dec. 16 Accepted a $14,500, 60-day, 10% note dated this day in granting Todd Duke a time extension on his past-due account receivable. 31 Made an adjusting entry to record the accrued interest on the Duke note. 2011 Feb. 14 Received Duke?s payment of principal and interest on the note dated December 16. Mar. 2 Accepted an $6,000, 10%, 90-day note dated this day in granting a time extension on the past-due account receivable from Mare Co. 17 Accepted a $2,400, 30-day, 7% note dated this day in granting Jolene Halaam a time extension on her past-due account receivable. Apr. 16 Halaam dishonored her note when presented for payment. June 2 Mare Co. refuses to pay the note that was due to Ohlde Co. on May 31. Prepare the journal entry to charge the dishonored note plus accrued interest to Mare Co.?s accounts receivable. July 17 Received payment from Mare Co. for the maturity value of its dishonored note plus interest for 46 days beyond maturity at 10%. Aug. 7 Accepted an $7,500, 90-day, 10% note dated this day in granting a time extension on the past-due account receivable of Birch and Byer Co. Sept. 3 Accepted a $3,800, 60-day, 8% note dated this day in granting Kevin York a time extension on his past-due account receivable. Nov. 2 Received payment of principal plus interest from York for the September 3 note. Nov. 5 Received payment of principal plus interest from Birch and Byer for the August 7 note. Dec. 1 Wrote off the Jolene Halaam account against Allowance for Doubtful Accounts. Required: Prepare journal entries to record these transactions and events. (Use 360 days a year. Do not round intermediate calculations and round your final answers to the nearest dollar amount. Omit the "$" sign in your response.) 2010 Date General Journal Debit Credit Dec. 16 31 2011 Date General Journal Debit Credit Feb. 14 Mar. 2 17 Apr. 16 June 2 July 17 Aug. 7 Sept. 3 Nov. 2 5 Dec. 1
Question 5
Assignment 1: Occupy Wall Street Movement Due Week 4 and worth 200 points Use the Internet or the Strayer Library to research the ?Occupy Wall Street? movement that began in the fall of 2011. Write a 6-8 page paper in which you: 1. Discuss the moral and economic implications involved in the movement. 2. Analyze each of the implications identified above against the utilitarian, Kantian, and virtue ethics to determine which theory best applies to the movement. Support your position with examples and evidence. 3. Determine who is responsible for income inequality and wealth distribution in the U.S. In your analysis, make sure to include if this is something that happened suddenly or if it built up over time. Explain your rationale. 4. Suggest an equitable outcome from the movement that would be appropriate for our capitalistic society. 5. Predict whether the movement will continue, fad away, or turn into something else. Provide a rationale with your response. 6. Use at least three (3) quality references. Note: Wikipedia and other Websites do not quality as academic resources. Your assignment must follow these formatting requirements: ? Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. ? Include a cover page containing the title of the assignment, the student?s name, the professor?s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are: ? Explain the considerations for and process of ethical business decision making to balance corporate and social responsibilities and address moral, economic, and legal concerns. ? Explain the concepts of justice and the factors that constitute rights using the predominant ethical theories such as utilitarian, Kantian, and virtue ethics. ? Use technology and information resources to research issues in business ethics. ? Write clearly and concisely about business ethics using proper writing mechanics. Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric. Points: 200 Assignment 1: Occupy Wall Street Movement Criteria Unacceptable Below 60% F Meets Minimum Expectations 60-69% D Fair 70-79% C Proficient 80-89% B Exemplary 90-100% A 1. Discuss the moral and economic implications involved in Did not submit or incompletely discussed the Insufficiently discussed the moral and Partially discussed the moral and Satisfactorily discussed the moral and Thoroughly discussed the moral and the movement. Weight: 15% moral and economic implications involved in the movement. economic implications involved in the movement. economic implications involved in the movement. economic implications involved in the movement. economic implications involved in the movement. 2. Analyze each of the implications identified above against the utilitarian, Kantian, and virtue ethics to determine which theory best applies to the movement. Support your position with examples and evidence. Weight: 20% Did not submit or incompletely analyzed each of the implications identified above against the utilitarian, Kantian, and virtue ethics to determine which theory best applies to the movement; did not submit or incompletely supported your position with examples and evidence. Insufficiently analyzed each of the implications identified above against the utilitarian, Kantian, and virtue ethics to determine which theory best applies to the movement; insufficiently supported your position with examples and evidence. Partially analyzed each of the implications identified above against the utilitarian, Kantian, and virtue ethics to determine which theory best applies to the movement; partially supported your position with examples and evidence. Satisfactorily analyzed each of the implications identified above against the utilitarian, Kantian, and virtue ethics to determine which theory best applies to the movement; satisfactorily supported your position with examples and evidence. Thoroughly analyzed each of the implications identified above against the utilitarian, Kantian, and virtue ethics to determine which theory best applies to the movement; thoroughly supported your position with examples and evidence. 3. Determine who is responsible for income inequality and wealth distribution in the U.S. In your analysis, make sure to include if this is something that happened suddenly or if it built up over time. Explain your rationale. Weight: 15% Did not submit or incompletely determined who is responsible for income inequality and wealth distribution in the U.S. In your analysis, make sure to include if this is something that happened suddenly or if it built up over time; did not submit or incompletely explained your rationale. Insufficiently determined who is responsible for income inequality and wealth distribution in the U.S. In your analysis, make sure to include if this is something that happened suddenly or if it built up over time; insufficiently explained your rationale. Partially determined who is responsible for income inequality and wealth distribution in the U.S. In your analysis, make sure to include if this is something that happened suddenly or if it built up over time; partially explained your rationale. Satisfactorily determined who is responsible for income inequality and wealth distribution in the U.S. In your analysis, make sure to include if this is something that happened suddenly or if it built up over time; satisfactorily explained your rationale. Thoroughly determined who is responsible for income inequality and wealth distribution in the U.S. In your analysis, make sure to include if this is something that happened suddenly or if it built up over time; thoroughly explained your rationale. 4. Suggest an equitable outcome from the movement that would be appropriate for our capitalistic society. Weight: 20% Did not submit or incompletely suggested an equitable outcome from the movement that would be appropriate for our capitalistic society. Insufficiently suggested an equitable outcome from the movement that would be appropriate for our capitalistic society. Partially suggested an equitable outcome from the movement that would be appropriate for our capitalistic society. Satisfactorily suggested an equitable outcome from the movement that would be appropriate for our capitalistic society. Thoroughly suggested an equitable outcome from the movement that would be appropriate for our capitalistic society. 5. Predict whether the movement will continue, fad away, or turn into something else. Provide a rationale with your response. Did not submit or incompletely predicted whether the movement will continue, fad away, or turn into something else; Insufficiently predicted whether the movement will continue, fad away, or turn into something Partially predicted whether the movement will continue, fad away, or turn into something Satisfactorily predicted whether the movement will continue, fad away, or turn into something Thoroughly predicted whether the movement will continue, fad away, or turn into something Weight: 15% did not submit or incompletely provided a rationale with your response. else; insufficiently provided a rationale with your response. else; partially provided a rationale with your response. else; satisfactorily provided a rationale with your response. else; thoroughly provided a rationale with your response. 6. 3 references Weight: 5% No references provided Does not meet the required number of references; all references poor quality choices. Does not meet the required number of references; some references poor quality choices. Meets number of required references; all references high quality choices. Exceeds number of required references; all references high quality choices. 7. Clarity, writing mechanics, and formatting requirements Weight: 10% More than 8 errors present 7-8 errors present 5-6 errors present 3-4 errors present 0-2 errors present --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Assignment 2: Poverty and Pollution Case Study Due Week 8 and worth 300 points Read Case 7.2 titled "Poverty and Pollution," prior to starting this assignment. Write a 6-8 page paper in which you: 1. Determine the ethical implications of businesses polluting in a third world country. Explain your rationale. 2. Suggest the reasons a business may conduct operations in a third world country and disregard any standards of pollution control. 3. It has been said that pollution is the price of progress. Assess the connections between economic progress and development, on the one hand, and pollution controls and environmental protection, on the other. 4. Support the argument that human beings have a moral right to a livable environment regardless of the country they live in. 5. Take a position on whether wealthy nations have an obligation to provide poorer nations with, or help them develop, greener industries and sources of energy. Explain your rationale. 6. Propose a plan for uniform global pollution control standards and how you would enforce them. 7. Use at least three (3) quality references. Note: Wikipedia and other Websites do not quality as academic resources Your assignment must follow these formatting requirements: ? Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions. ? Include a cover page containing the title of the assignment, the student?s name, the professor?s name, the course title, and the date. The cover page and the reference page are not included in the required page length. The specific course learning outcomes associated with this assignment are: ? Recommend ways in which businesses can be partners with nature by applying the concepts of business ethics, business ecology, and environmental ethics. ? Use technology and information resources to research issues in business ethics. ? Write clearly and concisely about business ethics using proper writing mechanics. Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric. Assignment 2: Poverty and Pollution Case Study Due Week 8 and worth 300 points Read Case 7.2 titled "Poverty and Pollution," prior to starting this assignment. Write a 6-8 page paper in which you: 1. Determine the ethical implications of businesses polluting in a third world country. Explain your rationale. 2. Suggest the reasons a business may conduct operations in a third world country and disregard any standards of pollution control. 3. It has been said that pollution is the price of progress. Assess the connections between economic progress and development, on the one hand, and pollution controls and environmental protection, on the other. 4. Support the argument that human beings have a moral right to a livable environment regardless of the country they live in. 5. Take a position on whether wealthy nations have an obligation to provide poorer nations with, or help them develop, greener industries and sources of energy. Explain your rationale. 6. Propose a plan for uniform global pollution control standards and how you would enforce them. 7. Use at least three (3) quality references. Note: Wikipedia and other Websites do not quality as academic resources Your assignment must follow these formatting requirements: ? Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions. ? Include a cover page containing the title of the assignment, the student?s name, the professor?s name, the course title, and the date. The cover page and the reference page are not included in the required page length. The specific course learning outcomes associated with this assignment are: ? Recommend ways in which businesses can be partners with nature by applying the concepts of business ethics, business ecology, and environmental ethics. ? Use technology and information resources to research issues in business ethics. ? Write clearly and concisely about business ethics using proper writing mechanics. Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric. Assignment 2: Poverty and Pollution Case Study Due Week 8 and worth 300 points Read Case 7.2 titled "Poverty and Pollution," prior to starting this assignment. Write a 6-8 page paper in which you: 1. Determine the ethical implications of businesses polluting in a third world country. Explain your rationale. 2. Suggest the reasons a business may conduct operations in a third world country and disregard any standards of pollution control. 3. It has been said that pollution is the price of progress. Assess the connections between economic progress and development, on the one hand, and pollution controls and environmental protection, on the other. 4. Support the argument that human beings have a moral right to a livable environment regardless of the country they live in. 5. Take a position on whether wealthy nations have an obligation to provide poorer nations with, or help them develop, greener industries and sources of energy. Explain your rationale. 6. Propose a plan for uniform global pollution control standards and how you would enforce them. 7. Use at least three (3) quality references. Note: Wikipedia and other Websites do not quality as academic resources Your assignment must follow these formatting requirements: ? Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions. ? Include a cover page containing the title of the assignment, the student?s name, the professor?s name, the course title, and the date. The cover page and the reference page are not included in the required page length. The specific course learning outcomes associated with this assignment are: ? Recommend ways in which businesses can be partners with nature by applying the concepts of business ethics, business ecology, and environmental ethics. ? Use technology and information resources to research issues in business ethics. ? Write clearly and concisely about business ethics using proper writing mechanics. Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric. Assignment 2: Poverty and Pollution Case Study Due Week 8 and worth 300 points Read Case 7.2 titled "Poverty and Pollution," prior to starting this assignment. Write a 6-8 page paper in which you: 1. Determine the ethical implications of businesses polluting in a third world country. Explain your rationale. 2. Suggest the reasons a business may conduct operations in a third world country and disregard any standards of pollution control. 3. It has been said that pollution is the price of progress. Assess the connections between economic progress and development, on the one hand, and pollution controls and environmental protection, on the other. 4. Support the argument that human beings have a moral right to a livable environment regardless of the country they live in. 5. Take a position on whether wealthy nations have an obligation to provide poorer nations with, or help them develop, greener industries and sources of energy. Explain your rationale. 6. Propose a plan for uniform global pollution control standards and how you would enforce them. 7. Use at least three (3) quality references. Note: Wikipedia and other Websites do not quality as academic resources Your assignment must follow these formatting requirements: ? Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions. ? Include a cover page containing the title of the assignment, the student?s name, the professor?s name, the course title, and the date. The cover page and the reference page are not included in the required page length. The specific course learning outcomes associated with this assignment are: ? Recommend ways in which businesses can be partners with nature by applying the concepts of business ethics, business ecology, and environmental ethics. ? Use technology and information resources to research issues in business ethics. ? Write clearly and concisely about business ethics using proper writing mechanics. Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.
