Allah, Ballah and Callah formed a Chartered Accountancy Firm in 2002. Their partnership agreement provided for the following:

1. Profits and Losses are to be shared as follows: Allah takes half, Ballah takes one-third and Callah takes the remainder.
2. Interest is to be charged on the partners’ drawings and capital balances at 3.5%vand 5% per annum respectively.
3. Allah, the administrative partner, is to be paid a monthly salary of GH¢2,400
4. Drawings by the partners were effected as follows:

Allah         GH¢36,000 on April 1,2004

Ballah        GH¢48,000 on June 30,2004

Callah        GH¢43,200 on September 30, 2004

In order to increase his capital contribution, Ballah, on July1,2004 released one of his private cars with a value of GH¢50,000 for exclusive use of the firm. He accordingly transferred the ownership of the car to the firm on the same date. On September 30,2004 it was further agreed that Allah should withdraw GH¢10,000 from his capital, while Callah should increase his capital by GH¢8,000.

The net profit for the year under consideration was GH¢71,565.

The partners credit balances as at January1, 2004 were as follows:

                                          Capital Account          Current Account

Allah                                 GH¢180,000                 GH¢10,500  

Ballah                                GH¢90,000                   GH¢8,200    

Callah                                GH¢62,000                    GH¢7,900   

Required: Prepare for the year ended 31^st December,2004

1. Profit and Loss Appropriation Account.
2. The Capital and Current Accounts of the partners in a columnar form.

Plot the data on air travel delays. Can you see seasonal patterns? Explain. Use Megastat to calculate estimated seasonal indices and trend. Which months have the most delays? The fewest? Is this logical? Is there a trend in the deseasonalized data?

The following data is provided for the S&P 500 Index:

Refer to the information above. Calculate the 20-year arithmetic average annual rate of return on the S&P 500 Index.

Question 22 options:

Question 1 Sales for the Forever Young Cosmetics Company (in $ millions) are as follows:

(a) Develop a three-year moving average.

(b) Develop a four-year moving average.

(c) Develop a five-year moving average.

(d) Develop a seven-year rmoving average.

Sales for the Forever Young Cosmetics Company (in $ millions) are as follows:

(a) Develop a three-year moving average.

(b) Develop a four-year moving average.

(c) Develop a five-year moving average.

(d) Develop a seven-year rmoving average.

The following table provides the Dow Jones Industrial Average (DJIA) opening index value on the first working day of 1991–2010:

YEAR DJIA YEAR 2 DJIA

2010 10,431 2000 11,502

2009 8,772 1999 9,213

2008 13,262 1998 7,908

2007 12,460 1997 6,448

2006 10,718 1996 5,117

2005 10,784 1995 3,834

2004 10,453 1994 3,754

2003 8,342 1993 3,301

2002 10,022 1992 3,169

2001 10,791 1991 2,634

• Develop a trend line and use it to predict the opening DJIA index value for years 2011, 2012, and 2013. Find the MSE for this model.

Please answer as soon as possible

You’ve learned in this course that the IRS views large charitable contribution deductions as prima facie suspicious. So when a tax return client just hands you a conclusory list of cash (or especially noncash) contribution totals for the year, and those totals seem high relative to the client’s income level, how should you react…???

Actually, let’s consider that question in the context of a more specific scenario. Remember Paul and Anita Tucker, the taxpayers who claimed that they had giv-en almost $20,000 to their church? Although we weren’t told their income level, we do recognize that this wasn’t a negligible amount of money.*** Consult SSTS No. 3 and discuss.

*** The tax year involved in Tucker was 2002. Their contribution, stated in 2020 dollars, would be almost $29,000.

Select a funeral home in your area and obtain permission from the director to interview an employee about the costs, concerns, and arrangements that have to be made when making funeral arrangements in advance of a person's death. (Most directors will be willing to give you copy of their typical itemized cost sheet.) Make an appointment with that person, being sure to let him or her know that this is research for a paper rather than an actual pre-arrangement. Here are some questions you might want to consider:

• What is the cost of the average funeral at this time?
• What is your best prediction for the cost of a funeral five years from now? Ten years from now?
• Are there any costs that cannot be paid in advance?
• What happens to the money you pay in advance? How is it stored, used, etc.?
• What does "irrevocable trust" mean?
• What advantages or disadvantages are inherent in advanced payment?
• Should turn in a detailed summary of your questions and the answers to those questions, as well as your conclusions about the wisdom and/or difficulties of making arrangements in advance.

This does in fact have all of the needed information to complete this question. Thanks

The following selected transactions relate to liabilities of United Insulation Corporation. United’s fiscal year ends on December 31.

2018

2019

Required:
Prepare the appropriate journal entries through the maturity of each liability 2018 and 2019. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Enter your answers in whole dollars.)

1. Record a revolving credit agreement negotiated with Parish Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $20.0 million at the bank’s prime rate.

2. Record a three-month bank loan of $3.2 million with Parish Bank under the line of credit agreement. Interest at the prime rate of 10% was payable at maturity.

3. Record the payment of the 10% note at maturity.

4. Record the issuance of $13.6 million of commercial paper on a nine-month note, supported by the credit line. Interest was discounted at issuance at a 9% discount rate.

5. Record necessary adjusting entry to accrue interest on December 31.

6. Record interest on commercial paper in 2019.

7. Record the repayment of commercial paper at maturity.

The accompanying data table show the percentage of tax returns filed electronically in a city from 2000 to 2009. Complete parts a through e below.

Year   Percentage
2000   25
2001   33
2002   37
2003   38
2004   48
2005   50
2006   55
2007   59
2008   62
2009   64

a) Forecast the percentage of tax returns that will be electronically filed for 2010 using exponential smoothing with alpha= 0.1.

​b) Calculate the MAD for the forecast in part a.

c) Forecast the percentage of tax returns that will be electronically filed for 2010 using exponential smoothing with trend adjustment. Set alpha= 0.3 and beta= 0.4.

​d) Calculate the MAD for the forecast in part c.