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This post addresses tax yields and related issues.

1. Do investors in high tax brackets or those in low tax brackets benefit more from tax-exempt securities? 2. Do municipal bonds or corporate bonds offer a higher before-tax yield at a given point in time? Which has the higher after-tax yield? 3. If taxes did not exist, would Treasury bonds offer a higher or lower yield than

Engagement Planning

What is the purpose of engagement planning? What critical information should the auditor consider during engagement planning? How will this information affect the scope of the audit?

This post addresses a distribution practice question.

A corporation that has both preferred and common stock has a deficit in accuulated earnings and profit at the beginning of the year. The current earnings and profits are $25,000. the corporation makes a divided distribution of $20,000 to the preferred shareholders and $10,000 to the common shareholders. How will the preferred

Jernigan Ltd. Quality cost problem report

Managerial Accounting problems 1. Jernigan Ltd. Is a textile manufacturer in the southeastern United States, with annual sales of $15 million. Jennigan is a weaver of high end upholstery fabric. Until just a few years ago, the US textile industry was the leading producer of such high-end fabric, but recent imp0rovement s in

costs assigned to the units transferred out

FIFO Aluminum processes a single type of aluminum. During the current period the following information was given: Units Materials Costs Converstion Costs Beginning Inventory 3,000 $4,500

B&B Electric Corporation: Two-variance overhead analysis

B&B Electric Corporation: Standard cost: Materials (2lb x $ per lb)...................................$10.00 Labor (4 hr x $6 per hr)....................................$24.00 Factory overhead (4 hr x #3.38* per hr............$13.52 total standard cost...........................................$47.52 * $1.00 variable +

Career Plan after Graduations

I need some help in answering the following: - Share your career plans after graduation and the specific steps you have taken to prepare for your career during college, including meeting with career services, attending workshops, job fairs, internships, networking events and other relevant career-related activity. If you have

Costs, Expenses and Performance

Please match the following items with the correct descriptions. Answer _____Activity-based costing _____Indirect Expenses _____Controllable Costs _____Joint Costs _____Transfer Price Answers A. Costs incurred to produce or purchase two or more products at the same time. B. Costs that are incurred for the joint bene

type of cost

In the Mattel factory they are spending hours upon hours making the new action figures for the upcoming film MATRIX IV-THE RISE OF NEO. In this process they are using tons of raw plastic to make the many different action figures needed to coincide with the film's anticipated debut. The cost of this raw plastic is not considered

Preferred shares for common shares at a specified rate?

1. Which of the following gives holders the option to exchange their preferred shares for common shares at a specified rate? Answer A. Convertible Preferred Stock B. Participating Preferred Stock C. Nonparticipating Preferred Stock D. Callable Preferred Stock 2. Carrie Funston was reviewing the bond ratings of

One-Time Tax and Tax Revenue

Please help with the following business-related problem. Real estate magnate Donald Trump once proposed a one-time tax of 14.25 percent on the net wealth of every American with more than $10 million. Would this be an efficient way to raise tax revenue? Why or why not?

Federal taxation 2012

Search the Internet for at least four (4) stories about major charitable contributions by individuals, including Bill Gates, Warren Buffett, Steve Jobs, and at least one (1) other individual. Be mindful that you are not researching foundations, such as the Bill and Melinda Gates Foundation for this assignment. Write a 3-4 page

Calculate and report the mean, median, and mode of the data

State again the type of data you have been collecting. Calculate and report the mean, median, and mode of the data (at lease 20 observations, preferably more). Now calculate the standard deviation of the data. For this calculation compute the difference between each one of the observations and the mean, (this number may be po

Osage Inc. - Production and purchases budgets

Osage Inc.. has actual sales for June and July and forecast sales for August, September, October, and November as follows: Actual: June 4,150 units July 4,350 units Forecasted: August 4,200 units September 4,950 units October 3,900 units November 3,700 units Requ

Describe fee-for service and activity based costing (ABC)

1. Consider a health care organization with which you are familiar and discuss how do provider incentives differ when the provider moves from a fee-for-service to a capitated environment? 2. Discuss briefly the activity-based costing (ABC) and explain how ABC can differ from traditional costing approaches? Consider a health c

Kudler Fine Foods Automated Process of Accounting Information Systems

Similar to any business, Kudler Fine Foods uses payroll, accounts payable, accounts receivable, and inventory processes. All four of these processes might be improved by the use of accounting information systems. Your accounting firm has assigned you to the team that will recommend systems to improve automation of these processe

multiple-step form or the single-step form

The accountant of Weatherspoon Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 31, 2010. Rental revenue $29,000 Interest expense 18,000 Market appreciation on


What are the typical outputs of an Accounting Information Systems? Why do system analysts begin by designing the outputs instead of system inputs? What type of source documents does your business or a company with which you are familiar use for Accounting Information Systems? Are the documents paper-based, electronic, or othe

Managerial Accounting problems, Foggy Mountain Company, Seager & Buffet , excess capacity of machine hours, variable overhead rate, unit contribution margin, actual gain (loss) incurred

Managerial Accounting problems Foggy Mountain Company manufactures several styles of banjos. Management estimates that during the second quarter of the current year, the company will be operating at 80% of normal capacity. Because Foggy Mountain wants to increase utilization of the plant, the company has decided to consider s

Moore Inc., target profit , The dollar value of Morey's current annual fixed costs., Prepare a pro forma income statement for Morey, showing where Endreson's decision will achieve Morey's profit objectives.

Managerial Accounting problems Moore Inc. invented a secret process to double the growth rate of hatchery trout and manufactures a variety of products related to this process. Each product is independent of the others and is treated as a separate division. Product managers have a great deal of freedom to manage their divis

Reducing Expected Tax Payments

True or False: "This transaction will reduce expected tax payments: therefore, we should do it!" Briefly explain your answer. "For numeric solutions, provide full documentation of the process used to reach the solution. For problem analysis, use information from the Internet to perform analysis, incorporating critical thinkin

individual taxation

1. Larry Bounds has won the gold bat award for hitting the longest home run in major league baseball this year. The bat is worth almost $35,000. Under what conditions can Larry exclude the award from his gross income? Explain. 2. Compare and contrast start-up costs and organizational expenditures. Describe how the tax treat

Kiddie Tax Calculation

Mary is 13. She receives annual interest payments of $4000. What is her taxable income in 2011? Her parents claim her as a dependent. What is her parent's 2011 taxable income? John is 16. In 2011, he earned $6000 working a part-time job and received $5000 of interest income. His parents claim him as a dependent and they do no