Question & Answer

What are some common examples of taxable and tax-free fringe benefits?

Previn Brothers Inc. purchased land at a price of $27,000. Closing costs were $1,400. An old building was removed at a cost of $10,200. What amount should be recorded as the cost of the land?

{Planning}Tesha works for a company that pays a year-end bonus in January of each defer the bonus income.  Assume Congress recently passed tax legislation that decreases individual tax rates as of next year.  Does this increase or decrease the benefits of the bonus deferral this year?  What if Congress passed legislation that increased tax rates next year?  Should Tesha ask the company to change its policy this year?  What additional information do you need to answer this question?year (instead of December of the preceding year) to allow employees to

There exists a view that the UK is too small an economy to benefit from competition in many industries, with firms failing to reach minimum efficient scale. What does this imply for competition policy?

Explain the differences between financial and non-financial performance measures and give two examples of each.             (LO1)

A mold has a downsprue of length = 6.0 in. The cross-sectional area at the bottom of the sprue is 0.5 in2 . The sprue leads into a horizontal runner which feeds the mold cavity, whose volume = 75 in3 . Determine (a) the velocity of the molten metal flowing through the base of the downsprue, (b) the volume rate of flow, and (c) the time required to fill the mold cavity

Saprano Company, on January 2, 2014, entered into a contract with a manufacturing company to purchase room-size air conditioners and to sell the units on an installment plan with collections over approximately 30 months with no carrying charge. For income tax purposes, Saprano Company elected to report income from its sales of air conditioners according to the installment-sales method. Purchases and sales of new units were as follows. Units Purchased Units Sold Year Quantity Price Each Quantity Price Each 2014 1,400 $130 1,100 $200 2015 1,200 112 1,500 170 2016 900 136 800 205 Collections on installment sales were as follows. Collections Received 2014 2015 2016 2014 sales $42,000 $88,000 $ 80,000 2015 sales 51,000 110,000 2016 sales 34,600 In 2016, 50 units from the 2015 sales were repossessed and sold for $120 each on the installment plan. At the time of repossession, $2,000 had been collected from the original purchasers, and the units had a fair value of $3,000. General and administrative expenses for 2016 were $60,000. No charge has been made against current income for the applicable insurance expense from a 3-year policy expiring June 30, 2017, costing $7,200, and for an advance payment of $12,000 on a new contract to purchase air conditioners beginning January 2, 2017. Instructions Assuming that the weighted-average method is used for determining the inventory cost, including repossessed merchandise, prepare schedules computing for 2014, 2015, and 2016: (a) (1) The cost of goods sold on installments. (2) The average unit cost of goods sold on installments for each year. (b) The gross profit percentages for 2014, 2015, and 2016. (c) The gain or loss on repossessions in 2016. (d) The net income from installment sales for 2016. (Ignore income taxes.)

Assume that countries in the eurozone decide to pursue a deflationary fiscal policy. What effect is this likely to have on the UK economy?

What cost concepts are there other than those based on opportunity cost? Would the use of these concepts be likely to lead to an output greater or less than the profit-maximising one?

Laura Li, a U.S. resident, works for three months this summer in China.  What type of tax authority may be especially useful in determining the tax consequences of her foreign income?

How do people’s expectations influence the extent of crowding out?

If speculators on average gain from their speculation, who loses?

: Discuss the importance of purpose-driven communications, including vision and mission and ways to persuade and influence others.

What is meant by the term structural adhesive?

What would be the economic effects of (a) different rates of VAT, (b) different rates of personal income tax and (c) different rates of company taxation between member states if in all other respects there were no barriers to trade or factor movements?

What is the purpose of the bead coil in a pneumatic tire?

1. Give some other examples of public goods. Does the provider of these goods (the government or local authority) charge for their use? If so, is the method of charging based on the amount of the good that people use? Is it a good method of charging? Could you suggest a better method? 2. Name some goods or services provided by the government or local authorities that are not public goods. 3. Are there ways in which we could overcome the free-rider problem? Start by thinking about the provision of a public good amongst a group of friends or neighbours.

Included in the December 31 trial balance of Rivera Company are the following assets. Cash $ 190,000 Work in process $200,000 Equipment (net) 1,100,000 Accounts receivable (net) 400,000 Prepaid insurance 41,000 Patents 110,000 Raw materials 335,000 Finished goods 170,000 Prepare the current assets section of the December 31 balance sheet.

Table 6.4 illustrates five different short-run production functions: i.e. where the number of machines remains constant at one, two, three, four or five. In each case explain if there are diminishing or increasing marginal returns

Price-cap regulation was abandoned in the gas and electricity industries because the regulator (Ofgem) felt that there was sufficient competition. Consider whether this was a wise decision.

Midori Company had ending inventory at end-of-year prices of $100,000 at December 31, 2013; $119,900 at December 31, 2014; and $134,560 at December 31, 2015. The year-end price indexes were 100 at 12/31/13, 110 at 12/31/14, and 116 at 12/31/15. Compute the ending inventory for Midori Company for 2013 through 2015 using the dollar-value LIFO method.

1.    : Do you believe that it is ethical for organizational managers to try to get access to and scrutinize the Facebook pages of employees or job applicants? Discuss.

For what reasons may governments want other governments to stick to tough climate or emissions targets and yet be not willing to so so themselves?

A NC drill press is to perform a series of through-hole drilling operations on a 1.75 in thick aluminum plate that is a component in a heat exchanger. Each hole is 3/4 in diameter. There are 100 holes in all, arranged in a 10 by 10 matrix pattern, and the distance between adjacent hole centers (along the square) = 1.5 in. The cutting speed = 300 ft/min, the penetration feed (z-direction) = 0.015 in/rev, and the traverse rate between holes (x-y plane) = 15.0 in/min. Assume that x-y moves are made at a distance of 0.50 in above the work surface, and that this distance must be included inthe penetration feed rate for each hole. Also, the rate at which the drill is retracted from each hole is twice the penetration feed rate. The drill has a point angle = 100°. Determine the time required from the beginning of the first hole to the completion of the last hole, assuming the most efficient drilling sequence will be used to accomplish the job

: Describe the leadership trends emerging in today’s organizations, including Level 5 leadership, servant leadership, authentic leadership, and interactive leadership.