Question & Answer

Jada (age 53) and Elijah (age 60) are married, and both are self-employed. In 2024, they participate in a health insurance plan with a $3,000 annual deductible and out-of-pocket maximum of $9,000. The only other health plan they have is a vision insurance plan. Are they eligible to contribute to a health savings account? Why or why not. If so, what is their maximum HSA contribution and deduction?

Explain why some meme stocks were misvalued by investors.

What are the lithography techniques used in nanofabrication?

Use the information for Jones Company as presented in E7-20. Jones is planning to factor some accounts receivable at the end of the year. Accounts totaling $25,000 will be transferred to Credit Factors, Inc. with recourse. Credit Factors will retain 5% of the balances for probable adjustments and assesses a finance charge of 4%. The fair value of the recourse obligation is $1,200. Instructions (a) Prepare the journal entry to record the sale of the receivables. (b) Compute Jones’s accounts receivable turnover for the year, assuming the receivables are sold, and discuss how factoring of receivables affects the turnover ratio.

In 2024, Laureen is currently single.  She paid $2,800 of qualified tuition and related expenses for each of her twin daughters Sheri and Meri to attend State University as freshmen ($2,800 each for a total of $5,600).  Sheri and Meri qualify as Laureen’s dependents.  Laureen also paid $1,900 for her son Ryan’s (also Laureen’s dependent) tuition and related expenses to attend his junior year at State University.  Finally, Laureen paid $1,200 for herself to attend seminars at a community college to help her improve her job skills.  What is the maximum amount of education credits Laureen can claim for these expenditures in each of the following alternative scenarios?    a.  Laureen’s AGI is $45,000.

Define die swell in extrusion

JFK Corp. factors $300,000 of accounts receivable with LBJ Finance Corporation on a without recourse basis on July 1, 2014. The receivables records are transferred to LBJ Finance, which will receive the collections. LBJ Finance assesses a finance charge of 1½% of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. The transaction is to be recorded as a sale. Instructions (a) Prepare the journal entry on July 1, 2014, for JFK Corp. to record the sale of receivables without recourse. (b) Prepare the journal entry on July 1, 2014, for LBJ Finance Corporation to record the purchase of receivables without recourse.

‘As volume increases, total cost increases and per-unit cost decreases.’ What type of linear cost function does this describe? Draw a simple graph of this type of cost function.

Linear, stepwise linear, and piecewise linear cost functions (a)          Total fixed costs are $10 000 per week and the variable cost per unit is $8. Write the algebraic expression for the cost function and graph it. What are the assumptions of the cost function? (b)          Total fixed costs are $25 000 per week up to 2000 units a week and then jump up to $35 000 per week. The variable cost per unit is $8. Write the algebraic expression for the cost function and graph it. (c)           The average cost to produce 10,000 units is $45 and the average cost to produce 12 000 units is $44. Estimate the average cost to produce 15 000 units. (d)          The total cost function for Hot Dog Days, a hot dog cart business in Centennial Park, is TC = $5000 + 45% ´ total revenues. Estimate the total cost for a month when total revenues are $10 000.

: Explain social entrepreneurship as a vital part of today’s small-business environment.

How are operating expenses (not included in cost of goods sold) handled under the installment-sales method of accounting? What is the justification for such treatment?

What is the difference between a bilateral tolerance and a unilateral tolerance?

Explain the use of bond collateral and identify the common types of collateral for bonds. (LO2)

Flexible budget and variances; reasons for variances Play Time Toys is organised into two major divisions: marketing and production. The production division is further divided into three departments: puzzles, dolls and video games. Each production department has its own manager. The company’s management believes that all costs must be covered by sales of the three product lines. Therefore, a portion of production division costs are allocated to each product line. The company’s accountant prepared the following variance report for the dolls production department.       Required (a) Is Play Time Toys using a static budget or a flexible budget to calculate variances? Explain. (b) Do you agree with this approach? Why or why not? (c) Develop a flexible budget for the actual sales of 1100 units. (d) Use the benchmark you created in part (c) to calculate variances. (e) Review the variances from part (d). Briefly describe what the variances are suggesting regarding performance.

Using the information in E20-22, prepare a worksheet inserting January 1, 2014, balances, showing December 31, 2014, balances, and the journal entry recording postretirement benefit expense.

What are some of the reasons why surfaces are important?

Holiday Company issued its 9%, 25-year mortgage bonds in the principal amount of $3,000,000 on January 2, 2000, at a discount of $150,000, which it proceeded to amortize by charges to expense over the life of the issue on a straight-line basis. The indenture securing the issue provided that the bonds could be called for redemption in total but not in part at any time before maturity at 104% of the principal amount, but it did not provide for any sinking fund. On December 18, 2014, the company issued its 11%, 20-year debenture bonds in the principal amount of $4,000,000 at 102, and the proceeds were used to redeem the 9%, 25-year mortgage bonds on January 2, 2015. The indenture securing the new issue did not provide for any sinking fund or for redemption before maturity. Instructions (a) Prepare journal entries to record the issuance of the 11% bonds and the redemption of the 9% bonds. (b) Indicate the income statement treatment of the gain or loss from redemption and the note disclosure required.

What are the functions of the screen pack and breaker plate at the die end of the extruder barrel?

On the last day of its current tax year, Buy Rite LLC received $300,000 when it sold a machine it had purchased for $200,000 three years ago to use in its business. At the time of the sale, the basis in the equipment had been reduced to $100,000 due to tax depreciation taken. How much did the members’ self-employment earnings from Buy Rite increase when the equipment was sold? [Hint: See §1402(a)(3).]

Why might a company become involved in an interest rate swap contract to receive fixed interest payments and pay variable?

Sunita is a one-third owner in Bikes-R-Us, an S corporation that experienced a $45,000 loss this year (year 1). If her stock basis is $10,000 at the beginning of the year, how much of this loss clears the hurdle for deductibility (assume at-risk limitation equals the tax-basis limitation)? If she cannot deduct the whole loss, what happens to the remainder?  Is she able to deduct the entire loss if she sells her stock at year-end?

Are all such agreements necessarily against the interests of consumers?

Taking the same industries, identify as many economies of scale as you can.

What is a pin connector?

A laser triangulation system has the laser mounted at a 35° angle from the vertical. The distance between the worktable and the photodetector is 24.0000 in. Determine (a) the distance between the laser and the photodetector when no part is present and (b) the height of a part when the distance between the laser and photo-detector is 12.0250 in.