Question & Answer

1.       : If you were the leader of a newly formed team, what might you do to make sure the team developed norms of high performance?

What are the most common metals used in die casting?

The board of directors of Gifford Corp. declared cash dividends of $260,000 during the current year. If dividends payable was $85,000 at the beginning of the year and $90,000 at the end of the year, how much cash was paid in dividends during the year?

Lacy is a single taxpayer. In 2024, her taxable income is $51,000.  What is her tax liability in each of the following alternative situations?

Why should a taxpayer be interested in the character of income received?

Assume the economy is represented by EAPC1 in Figure 21.1. Illustrate the effects of positive and negative inflation shocks on the curve.

Explain hedge funds’ motivation to rely on expert networks in recent years. (LO4)

Juan and Bonita are married and have two dependent children living at home. This year, Juan is killed in an avalanche while skiing.

Identify three ways taxpayers can pay their income taxes to the government.

Define thermal diffusivity.

1. Draw a similar diagram to Figure 24.9, only this time assume that the two goods are good a measured on the vertical axis and good b measured on the horizontal axis. Assume that the country has a comparative advantage in good a. (Note that the world price ratio this time will be shallower than the domestic pre-trade price ratio.) Mark the level of exports of a and imports of b. 2. Is it possible to gain from trade if competition is not perfect?

Like mutual funds, commercial banks and stock-owned savings institutions sell shares, but the proceeds received by mutual funds are used in a different way. Explain. (LO1)

Every year the number of people who want to run the London Marathon far exceeds the number of places available. For example, 457 861 applicants were willing to pay £39 to enter the 2020 event. Unfortunately, there were only 17 500 places for these applicants and so the majority ended up very disappointed. Find out the different methods used by the organisers to allocate all 40 000 places and consider their advantages and disadvantages.

Does it matter if a country has a large national debt as a proportion of its national income?

Moxley Corporation had January 1 and December 31 balances as follows. 1/1/14 12/31/14 Inventory $95,000 $113,000 Accounts payable 61,000 69,000 For 2014, cost of goods sold was $500,000. Compute Moxley’s 2014 cash payments to suppliers.

List two common situations that will cause a partner’s inside and outside basis to differ.

What are the arguments for and against relying entirely on discretionary regional and urban policy?

Tan Chin Company purchases a building for $11,300,000 on January 2, 2014. An engineer’s report shows that of the total purchase price, $11,000,000 should be allocated to the building (with a 40-year life), $150,000 to 15-year property, and $150,000 to 5-year property. No residual (salvage) value should be considered. Compute depreciation expense for 2014 using component depreciation.

1.       : Stick to your principles and refuse to fudge the numbers. Tell Tessa you will work overtime to help develop an alternate proposal that stays within the budget by providing more training to employees who work directly with customers and fewer training hours for those who don’t have direct customer contact.

Briefly describe some of the similarities and differences between GAAP and IFRS with respect to the accounting for stockholders’ equity.

A cylindrical billet that is 100 mm long and 50 mm in diameter is reduced by indirect (backward) extrusion to a 20 mm diameter. The die angle is 90°. The Johnson equation has a = 0.8 and b = 1.4, and the flow curve for the work metal has a strength coefficient of 800 MPa and strain hardening exponent of 0.13. Determine (a) extrusion ratio, (b) true strain (homogeneous deformation), (c) extrusion strain, (d) ram pressure, and (e) ram force.

Can C corporations use the cash method of accounting?  Explain.

How do open-end mutual funds differ from closed-end funds? (LO1, LO5)

How would raising interest rates in this way affect the balance between the current and financial accounts of the balance of payments?

was founded in 1969 as Trus Joist International. The firm, a manufacturer of specialty building products, has its headquarters in Boise, Idaho. The company, through its partnership in the Trus Joist MacMillan joint venture, develops and manufactures engineered lumber. This product is a high-quality substitute for structural lumber and uses lower-grade wood and materials formerly considered waste. The company also is majority owner of the Outlook Window Partnership, which is a consortium of three wood and vinyl window manufacturers. Following is T J International’s adapted income statement and information concerning inventories from its annual report.     Instructions (a) How much would income before taxes have been if FIFO costing had been used to value all inventories? (b) If the income tax rate is 46.6%, what would income tax have been if FIFO costing had been used to value all inventories? In your opinion, is this difference in net income between the two methods material? Explain. (c) Does the use of a different costing system for different types of inventory mean that there is a different physical flow of goods among the different types of inventory? Explain.