What are the legal and nontax characteristics of the various types of legal entities?
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Waldo County, the well-known real estate developer, worked long hours, and he expected his staff to do the same. So George Chavez was not surprised to receive a call from the boss just as George was about to leave for a long summer's weekend. Mr. County's success had been built on a remarkable instinct for a good site. He wou
1. The Modern Language Corporation earned $1.6 million on net assets of $20 million. The cost of capital is 11.5%. Calculate the net ROI and EVA. (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Enter "EVA" answer in millions rounded to 1 decimal place.) ROI % EVA $ million
What is depletion and is it an art form or an exact science?
What are like-kind exchanges and why are they important to the world of taxation?
New-model commercial airplanes are much more fuel-efficient than older models. How is it possible for airlines flying older models to make money when its competitors are flying newer planes? Explain briefly. I believe because the price of the older planes drop drastically when they are purchased in the second-hand market all
it is basically up to management to filter out the overoptimistic projects. Do you think that companies might be better served if they encouraged project sponsors to be more realistic? Is it even possible to rid the sponsor of their inherent favoritism to a project? Thoughts?
New-model commercial airplanes are much more fuel-efficient than older models. How is it possible for airlines flying older models to make money when its competitors are flying newer planes. This could be explained by depreciation. Airlines flying older models are likely paying fewer taxes on depreciation. It's possible the old
Overoptimism by project sponsors. Inconsistent forecasts of industry and macroeconomic variables. Capital budgeting organized solely as a bottom-up process. Do you think that accounting should have to approve all estimates and hold management accountable for anything that doesn't seem right? Why or why not?
Radhika, Please help me with this problem as I am totally lost. Product M and S are joint products. The joint production cost of the products is $1500. That is, there are costs up to a certain point and we cannot divide the products before that point. M has a market value of $2000 at the split-off point. If M is furthe
Please help answer the following question: There was a time when home ownership had great tax advantages; how does home ownership compare 15 years ago as compared to today?
Between interest income and dividend income, which is best to receive from a tax perspective? Explain in detail your answer and your interpretation of the question.
What are the various cost recovery methods and how do they compare and contrast?
Moped, Inc. purchased machinery at a cost of $22,000 on January 1, 2011. The expected useful life is 5 years and the asset is expected to have salvage value of $2,000. Moped depreciates its assets via the double-declining balance method. What is the accumulated depreciation for this asset on December 31, 2012? A. $4,400 B.
What types of taxes qualify to be deducted as itemized deductions? What sort of taxes don't qualify for the deduction? Would a vehicle registration fee qualify as a deductible tax? Why or why not?
Compare and contrast cash versus accrual accounting for the preparation of a tax return? Why would you use one over the other?
As it relates to Adjusted Gross Income and "Above the Line" or "Below the Line" when changes were made to the tax laws that created the phase out of certain itemized deductions, could there have been another way to create the same tax impact without the confusion that normally is created in the mind of taxpayers?
50 word min- on the topic of "Barter Income" where one service is provided for another and there is no exchange of monetary consideration. For example, you the accountant prepares a tax return in return for your auto mechanic tuning up your car. Class, what is the simple reason for how this is treated for tax purposes and why?
Incremental cash flows when deciding whether to invest in a new manufacturing plant 1.Statement - Money already spent on engineering design of the new plant. Question - Past expenses are considered sunk cost and should not be a consideration for incremental cash flow, but what if we had to alter the design, would you count tha
50 words min What are the various expectations of taxpayer compliance and how are they important?
150 word min Describe the various tax rate structures; how are they different and which do you propose for the various types of taxes?
What information do you have in the personal budget, personal balance sheet, and personal statement of cash flows? What does each tell you and how important is the information conveyed?
•Locate a 1-2 page job description from your current company, former company or on-line. •Read the job description and analyze it based on the Fair Labor Standards Act. •Determine if the job is exempt or non-exempt and if exempt, indicate which exemption qualifies. •Post the job description and write a 250-300 word po
1. Which of the following are real assets, and which are financial? Assets a. A share of stock. b. A personal IOU. c. A trademark. d. A factory. e. Undeveloped land. f. The balance in the firm's checking account. g. An experienced and hardworking sales force. h. A corporate bond. 2. At an interest rate of 12
Assume coupons are paid annually. Here are the prices of three bonds with 10-year maturities: Bond Coupon (%) Price (%) 2 81.62 4 98.39 8 133.42 ________________________________________ a. What is the yield to maturity fo
Investors should save when interest prices go up. Do you think most smart investors are doing this? Do you think our interest rates currently, at the national level, are reasonable?
Construct some simple examples to illustrate your answers to the following: a. If interest rates rise, bond prices rise or fall? b. If the bond yield is greater than the coupon, is the price of the bond greater or less than 100? c. If the price of a bond exceeds 100, is the yield greater or less than the coupon? d. Do high-c
You won $1,000,000 in the state lottery and had a choice to either receive $50,000 a year for 20 years or $560,000 now. What are the tax implications for both of the aforementioned options?
If you were to win $1,000,000 in the state lottery and had a choice to either receive $50,000 a year for 20 years or $560,000 now, which would you choose and why? What factors would you need to consider?
Fair Value Accounting: How the financial crisis of 2008 highlighted the issues The financial crisis of 2008 drew attention to fair-value accounting (FVA), creating a major policy debate involving the US Congress, the European Commission as well as banking and accounting regulators around the world. Critical review the lit