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    Characteristics of General Computer Systems

    What characteristics of general computer systems people are most familiar with and how familiar are they with them? Which characteristics do they understand best? Which characteristics do they understand least?

    Depreciation and accounting change for Wardell, Clinton Poultry

    E 11-18. Wardell Company purchased a minicomputer on January 1, 2009, at a cost of 440,000. The computer was depreciated using the straight-line method over an estimated five-year life with an estimated residual value of $4,000. On January 1, 2011, the estimate of useful life was changed to a total of 10 years, and the estimat

    Overhead Allocation Problems

    A company allocates overhead based on square feet to their 2 divisions, F and G. they have $20,000 of indirect costs. Divsion F Sales $20,000 Direct costs $7,000 Square feet $8,000 Division G Sales $30,000 Direct Costs $5,000 Square feet $2,000 Calculate the profit of each division after allocation. Why should th

    Federal Debt

    Explain the relationship between federal debt and annual yearly surpluses or deficits. Discuss the impact on interest rates and future tax burdens

    Tax Deductions- Cell Phone

    The taxpayer Bob has a cell phone that he uses for business. Is he allowed to deduct the full value of his cell phone as a business expense? Bob decides to analyze his actual usage for the past year and determines that 60% of his data usage is personal (nonbusiness). Can he still deduct the full amount? Where might he turn fo

    Tax liability for Clients Growing Business

    Your client has a growing business (structured as an partnership). She realizes that given her low AGI at this point in time, she will pay more federal taxes. However, once she can generate a higher AGI, she feels confident that all of the "tax breaks for the rich" will kick in and lower her tax liability to a very low level.

    An explanation of the marginal tax rate and average tax rates for this tax payer.

    Another client, Ms. Dunham, has asked you to help her understand how her tax is computed. You need to provide Ms. Dunham with the following: An example of how to calculate the tax liability using the tax rate table and the tax rate formula for a taxpayer with taxable income of $55,000, filing status married filing jointly. A

    Income in Respect of a Decendant (IRD) for Joyce Ingalls

    Joyce Ingalls is the daughter of the late Fred Ingalls, who died August 15, 2010. One of the items included in this gross estate was a traditional (regular/non-Roth) IRA valued at several million dollars. Mr. Ingalls's estate will owe taxes, but no estate taxes had been paid by March 1, 2011, the date Joyce filed her 2010 indivi

    Calculate capitalized interest, research and development expense

    Please show the steps to follow to complete the exercises. 10-24 On January 2, 2011 the Highlands Company began construction on a new manufacturing facility for its own use. The building was completed in 2012. The Company borrowed $1,500,000 on January 1 to help finance the construction. In addition to the construction l

    Corporation Taxes

    Corporations are a separate taxable entity; however, they can elect to be taxed as an S-corporation. What are the benefits and impact of a corporation electing to be taxed under subchapter S of the code?

    Total Manufacturing Costs

    Francum Manufacturing Company has the following data: direct labor $229,000, direct materials used $180,000, total manufacturing overhead $208,000, and beginning work in process $25,000. Compute (a) total manufacturing costs and (b) total cost of work in process.

    Irregularities to Look for in Cash and Payroll

    What irregularities should a fraud examiner look for in areas within a firm where physical cash is used? What irregularities should a fraud examiner look for in the payroll function within a firm?

    Types of business entities and how they are taxed

    Discuss the different types of taxes. These types of taxes affect individuals and businesses. Keeping in mind how each business entity is taxed; what are the different types of business entities a taxpayer can choose? Explain the advantages and disadvantages of each type of business entity. Also, identify how a limite

    Taxable income

    What are the differences between the following components of taxable income? Provide at least one example of each. Deductions for AGI and deductions from AGI Gross income and AGI AGI and taxable income Tax deduction and tax credit Personal exemption and dependency exemption

    Preparing a Schedule of Cash Collections

    I am not understanding how to break these figures down quarterly. The examples in the textbook are done by quarters byt he assignment is asking for monthly figures: Duffy Corporation has prepared the following sales budget: Month Cash Sales Credit Sales May

    Lab surrounding EOQ

    Please see the attachment question for assistance. Lab 1: Low Nail Company Scenario/Summary After making some wise short-term investments at a race track, Chris Low had some additional cash to invest in a business. The most promising opportunity at the time was in building supplies, so Low bought a business that specialized

    Indicate the organization or organizations associated with each activity.

    Organizations associated with the public accounting profession. Several private and public sector organizations are associated with the profession. Listed below are activities pertaining to these organizations. 1. License individuals to practice as CPAs. 2. Promulgate GAAP. 3. Issue Statements on Auditing Standards. 4.

    Internal Policies

    Establish internal policies regarding the creation of business contracts as well as electronic communication. Basically what policies (what should be included) should be established for business contracts and electronic communication (e-mail).

    Realization of Gain or Loss

    Ramon incorporated his sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values and tax-adjusted bases: FMV Tax-Adju

    CPA Professional Standards

    Explain economic issues that bring concern to pricing tax services. Are there any ethical challenges when hiring non-CPAs to do taxes (using new IRS laws)? What standards apply?

    Lindsey Manufacturing Company: Reasons for Variances...

    During February the Lindsey Manufacturing Company's costing system reported several variances that the production manager was surprised to see. Most of the company's monthly variances are under $125, even though they may be either favorable or unfavorable. The following information is for the manufacture of garden gates, its on

    Bale Company Land Account Appreciation Calculation

    Bale Company buys land for $100,000 on 12/31/06. As of 3/31/07, the land has appreciated in value to $101,000. On 12/31/07, the land has appraised value of $103,600. By what amount should the Land account be increased in 2007?

    Calculating Earnings per share

    For 2007 Mossland Corporation reported net income of %28,000, net sales $400,000, and average share outstanding 6,000. There were no preferred stock dividends. What was the 2007 earnings per share? Earnings per share:__________________