1. Assume for 2014 that Don made one transfer involving his granddaughter as follows: Don opened a joint checking account with his granddaughter, with right of survivorship, for her college expenses. Don made an initial deposit of $100,000. During 2014, granddaughter wrote checks on the account to the school for tuition of $15,000 and living expenses of $20,000. What is the amount of the taxable gift for federal gift tax purposes?, ,a. 0.,b. $6,000. ,c. $21,000. ,d. $35,000. ,,2. Oliver gave his wife $5,250,000 worth of publicly traded stock in August 2014, outright. Oliver’s basis in the stock was $50,000. What is the amount of the taxable gift for federal gift tax purposes? (Oliver made no other gifts to anyone in 2014). , ,a. 0.,b. $87,000.,c. $100,000. ,d. $5,087,000. ,,3. If an election is available and is made to use alternate valuation for federal estate tax purposes, then if property X is sold within six months after the decedent’s death, property X is valued for federal estate tax purposes as of which date?,,a. The date of the decedent’s death.,b. The date that is six months after the decedent’s of death.,c. The date of sale of the property.,d. The date the property is distributed to the beneficiaries.,,,4. The trustee of a testamentary trust has distributable net income of $30,000 on December 31, 2014, the last day of the trust’s income tax year. On March 3, 2015 the trustee makes a distribution of all distributable net income on hand as of December 31, 2014 to the trust beneficiaries . The trustee,,a. may elect to have the distribution treated as though made on December 31, 2014 provided all requirements for the election are satisfied.,b. cannot elect to have the distribution treated as though made on December 31, 2014.,c. is limited to the lesser of distributable net income or trust accounting income to be deemed as distributed on December 31, 2014. ,d. cannot elect to have the distribution treated as though made on December 31, 2014 for the first income tax year of the trust.
Find a publicly announced transaction and pull the 8k (SEC filing) for the transaction. Try to determine whether the transaction is being structured as a taxable transaction or a tax-free transaction (e.g., Kraft / Heinz merger). Describe specific reasons and cite specific rules as to why or why not the found transaction can/cannot qualify as an “A”, “B” or “C” reorganization.
,Assume a peanut butter company reported the following variances in the most recent period. Can you think of a scenario that would explain each combination of variances?,1. Unfavorable direct materials price variance, favorable direct materials usage variance, and unfavorable direct materials spending variance.,2. Favorable direct labor rate variance, unfavorable direct labor efficiency variance, and unfavorable direct labor spending variance.,3. Unfavorable direct labor efficiency variance and unfavorable variable overhead efficiency variance.,4. Favorable fixed overhead spending variance and favorable fixed overhead volume variance.,
,29. LO.4 (Cash collections) Miriam Irby is president of MI Corp. Irby has decided to take a month’s vacation with her family to South Africa, Zimbabwe, and Angola. Irby has researched the trip and determined that the total cost of the trip for her family will be approximately $50,000—she wants to go first class on everything! Her travel agent says that a 10 percent discount can be obtained if Irby can write a check for the cost of the trip by the end of November. Irby says she sees no problem in doing that given that the company’s expected billings for October, November, and December, respectively, are $100,000, $65,000, and $15,000 (Irby will leave on vacation in December). As of September 30, 2013, MI Corp.’s accountant has estimated cash collections from billings to be 15 percent in the month of sale, 55 percent in the month following sale, and 30 percent in the second month following sale. The September 30, 2013, Accounts Receivable balance is $11,000; that amount is expected to be collected in October. Average monthly business costs are $22,500.,a. What are MI Corp.’s expected cash collections for October, November, and December?,b. Can Irby pay for her trip in November and obtain the 10 percent discount? Explain.,c. What would you suggest that Irby do?,
,Wichita University sells 5,590 season basketball tickets at $160 each for its 10-game home schedule.,Give the entry to record (a) the sale of the season tickets and (b) the revenue recognized for playing the first home game. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 125.), No. Accounts tittles and explanation , ,Debit , , Credit , ,(a), , , , , , , ,(a) , , , , , , (To record sale of 5,590 season tickets) , ,(b), , , , , , , ,(b) , , , , , , (To record basketball ticket revenues earned), , ,
, , , Goodwin Auto Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $41,184. All sales are subject to a 4% sales tax. , , , , , , Compute sales taxes payable.,Sales taxes payable, , $, , , ,Make the entry to record sales taxes payable and sales. (Credit account titles are automatically indented when amount is entered. Do not indent manually.), Date , , Account Titles and Explanation , , Debit , , Credit , ,Mar. 16, , , , , , , , , , , , , , , , , , , , ,
During the past five weeks, you have written several papers examining various organizational behavior problems that materialize in organizations. Review all of those papers and other course material. Put together a final project paper that presents the key diagnostic insights you have made during the course. In essence, your paper should answer the questions “What goes wrong in organizations?” and “How do leaders prevent and fix those issues?” Your focus should be on organizational behavior issues and root causes of such problems. Avoid simple descriptions of tasks or operations; focus on the deeper human issues. The resulting document will provide you with a practical resource for interacting in your present and future organizations.,,Based on your findings, write a four- to six-page paper in APA format. Due, June 20, 2015. Review the grading rubric to assure that you have addressed all the required elements for the assignment.,,,Assignment 2 Grading Criteria ,Maximum Points,Identified causes of organizational behavior issues in organizations. ,Discussed how leaders might prevent and fix organizational behavior issues. ,Justified answers with logical rationale, personal experiences, examples, and/or cited sources. ,Utilized correct APA formatting, citations, and references. ,Demonstrated clear writing, a professional vocabulary, and correct spelling/grammar.
,I’m working on a comparative common size income statement. Please help me solving this home work.,
What causes conflict in organizations? Many of the organizational behavior topics that have been addressed in the class thus far include the opportunity for conflict to emerge. For example, conflict is a consideration if we talk about decision making, change, vision/values alignment, interpersonal relationships, teams, communication, and trust. Although some conflict in an organization might have positive benefits, using the topics covered in this week’s lesson to get your thinking started, discuss 4-5 “causes” of negative conflict (i.e., conflict as organizational behaviors that inhibit organizational productivity). For example, how might lack of alignment to organizational vision and values cause negative conflict, or how might lack of trust cause negative conflict? Provide examples from your organization or an organization you know that illustrate the causes of conflict you discuss, including any observed consequences of the conflict. Also, discuss possible steps that leaders might take to prevent and/or solve negative conflict occurring in the organization.,,Based on your findings, write a 3-4 page paper in APA format. Due by Tuesday, June 16, 2015. Review the grading rubric to assure that you have addressed all the required elements for the assignment.,,Assignment 3 Grading Criteria ,Maximum Points,Identified and discussed 4-5 causes of conflict in organizations. Provided examples illustrating the causes and the consequences of negative conflict. ,Discussed steps for leaders to take to prevent and/or solve negative conflict. ,Justified answers with logical rationale, personal experiences, examples, and/or cited sources. ,Utilized correct APA formatting, citations, and references. ,Demonstrated clear writing, a professional vocabulary, and correct spelling/grammar.