In 2019, Nina contributes 12 percent of her $125,000 annual salary to her 401(k) account. She expects to earn a 5 percent before-tax rate of return. Assuming she leaves this (and any employer contributions) in the account until she retires in 20 years, what is Nina’s after-tax accumulation from her 2019 contributions to her 401(k) account? (Use Table 1, Table 2.) (Round your intermediate calculations and final answer to the nearest whole dollar amount.)

Problem 13-55 Part a

a. Assume Nina’s marginal tax rate at retirement is 30 percent.

b. Assume Nina’s marginal tax rate at retirement is 20 percent.

c. Assume Nina’s marginal tax rate at retirement is 40 percent.

Explain in writing the potential benefits and problems of electing to be taxed as a general partnership with respect to a comparison with corporate taxation and organization.

White Diamond Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Milling Department. From the Milling Department, the materials pass through the Sifting and Packaging departments, emerging as packaged refined flour.

The balance in the account Work in Process-Sifting Department was as follows on July 1:

The following costs were charged to Work in Process-Sifting Department during July:

During July, 15,500 units of flour were completed. Work in Process-Sifting Department on July 31 was 1,100 units, 4/5 completed.

Points:

17 / 18

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1. Calculate equivalent units for direct materials and conversion costs.

Prepare statement of profit and loss and statement of financial position

Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows:

Human Resource Strategy

Discuss human resource strategies that support a Cost Leadership competitive Strategy. Provide examples to illustrate your answer.

Cane Company manufactures two products called Alpha and Beta that sell for $120 and $80, respectively. Each product uses only one type of raw material that costs $6 per pound. The company has the capacity to annually produce 100,000 units of each product. Its average cost per unit for each product at this level of activity are given below:

The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are unavoidable and have been allocated to products based on sales dollars.

13. Assume that Cane’s customers would buy a maximum of 80,000 units of Alpha and 60,000 units of Beta. Also assume that the company’s raw material available for production is limited to 160,000 pounds. How many units of each product should Cane produce to maximize its profits?

Flight Café is a company that prepares in-flight meals for airlines in its kitchen located next to the local airport. The company’s planning budget for July appears below:

In July, 27,000 meals were actually served. The company’s flexible budget for this level of activity appears below:

1. Compute the company’s activity variances for July. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

1.Explain the four merchandise inventory methods and provide an example for each

Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:

1. Equipment and land were acquired for cash.
2. There were no disposals of equipment during the year.
3. The investments were sold for $78,340 cash.
4. The common stock was issued for cash.
5. There was a $58,910 credit to Retained Earnings for net income.
6. There was a $34,960 debit to Retained Earnings for cash dividends declared.

Required:

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.

1) Skysong Corporation issued $620,000 of 9% bonds on November 1, 2017, for $656,123. The bonds were dated November 1, 2017, and mature in 8 years, with interest payable each May 1 and November 1. Skysong uses the effective-interest method with an effective rate of 8%.

Prepare Skysong’s December 31, 2017, adjusting entry.

2)On January 1, 2017, Skysong Corporation issued $450,000 of 7% bonds, due in 8 years. The bonds were issued for $478,264, and pay interest each July 1 and January 1. The effective-interest rate is 6%.

Prepare the company’s journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Skysong uses the effective-interest method.

Given the following information for Macro Drive Inc.

1. Prepare (in good form) an income statement for 2017 for Macro Drive Inc
2. Assume that Micro Drive Inc. has 50,000 shares outstanding, calculate the Earnings Per Share for the company for the period ending 2017
3. Differentiate between accounting income and free cash flow. Why is FCF the most important measure of cash flow?

At the beginning of the school year, Priscilla Wescott decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget:

a. Prepare a cash budget for September, October, November, and December. Enter all amounts as positive values except cash decrease which should be indicated with a minus sign.

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b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets?

Static

c. What are the budget implications for Priscilla Wescott?

Priscilla can see that her present plan will not provide  sufficient cash. If Priscilla did not budget but went ahead with the original plan, she would be $ short  at the end of December, with no time left to adjust.

X- Cell Limited is in the process of evaluating a project which will allow the firm to branch into a new product line. The projected cash flow for its new product line is as follows:

1. Calculate the payback period for the project. What is the key drawback of the payback method of project appraisal?
2. If the required return is 11 percent, should the firm accept the project based on the IRR rule?
3. Suppose X-Cell uses the NPV decision rule. At a required return of 9 percent, should the firm accept the project? Will your decision change if the required was 15 percent and why?
4. Why is NPV considered to be a superior method of evaluating the cash flows from a project? Suppose the NPV for a period’s cash flows is computed to be $2500.00. What does this number represent to the firm’s shareholders?