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Listed below are accounts that might appear on the balance sheet or the income statement. 1. equipment 2. fees earned 3. retained earnings 4. wage expense 5. patent 6. cost of goods sold 7. common sto
Prepare adjusting journal entries for the year ended (or date of) December 31, 2005, for each of these separate situations. Assume that prepaid expenses are initially recorded in asset accounts. Also
The projected federal deficit for next year is $1.3 trillion. Can we afford such programs? Can we keep on borrowing? Should the federal budget be balanced every year? Discuss.
a) Derive an equation for total accounting profit. b) Derive an equation for total economic profit.
Explain economic issues that bring concern to pricing tax services. Any ethical challenges when hiring non-CPAs to do tax returns (new IRS law). What standards apply?
Why not have State governments levy tariffs on imports, or tax other states' products. Would this be a sensible way to raise revenues? What are the advantages/disadvantages? Provide research to supp
How would such a change in tax policy affect the excess burden and incidence of the tax, assuming that all forms of investment income are included in a comprehensive income tax base?
1. What is the government budget constraint in period t? Write it both in aggregate and in per capita terms. 2. Solve for the competitive equilibrium consumption levels. Also find the savings of the r
Draw the budget constraint. (Put School supplies, S, on the X axis and Food, F, on the Y axis). Draw the indifference curve that includes (S = 10, F = 90). S and F are imperfect substitutes.
Problem: What are tax preferences? How does the government justify tax preferences?
Why can workers with high incomes expect negative returns on their Social Security taxes during this period?
What are selective property taxes? Discuss the advantages and disadvantages of property tax legislation as it is currently applied in the U.S. to businesses and governments.
Explain how you would quantify the amount or percentage of property tax revenue that comes from owners of Habitat for Humanity houses in a particular municipality.
Trade Credit Rates. A firm currently offers terms of sale of 3/20, net 40. What effect will the following actions have on the implicit interest rate charged to customers that pass up the cash discou
Problem: Which of the following are concerns about target costing? a. Conflicts may arise within organizations. b. Employees may experience burnout due to the pressures of meeting target costs.
Question 1. If you combine Johnson's capital structure with Aaron's operating plan, what is the degree of combined leverage?
Problem 1. Do you think tax allocation can improve the prediction of future tax payments in the short run? Problem 2. what are the economic consequences of SFAS No. 87?
Question 1: What type of inflation accounting do you favor under high inflationary periods? Question 2: Do you think tax allocation can improve the prediction of future tax payments in the short run?
Question 1: What are Employee Stock Options? Question 2: What is the relevance of this Application to risk analysis?
If Comapany A currently has 300,000 shares of common stock outstanding, what are earnings per share? Dividends per share? What is book value per share? If the stock currently sells for $25 per share
Question 1. Calculate the net present value of the loan excluding flotation costs. Question 2. Calculate the net present value of the loan including flotation costs.
If its debt/equity ratio is 0.5, what is the return on equity?
1) Prepare a monthly schedule for cash receipts for April through June. 2) What is the balance of Receivables at the end of June?
Problem: Shares of Darwin, Inc. sell for $20 per share. 40% of earnings are paid in dividends. What is the dividend yield? Earnings are $100,000, and there are 10,000 shares of stock outstanding.
Biogenetics Inc plans to retain and reinvest all of their earnings for the next 30 years. Investors believe that at the end of year 31 the firm will pay a dividend of $12 per share. The dividend wil