1.

In 2020, Elaine paid $2,440 of tuition and $1,160 for books for her dependent son to attend State University this past fall as a freshman. Elaine files a joint return with her husband.

What is the maximum American opportunity tax credit that Elaine can claim for the tuition payment and books in each of the following alternative situations? (Leave no answer blank. Enter zero if applicable.)

Elaine’s AGI is $88,000.

What is the American opportunity tax credit?

2. In 2020, Laureen is currently single. She paid $2,400 of qualified tuition and related expenses for each of her twin daughters Sheri and Meri to attend State University as freshmen ($2,400 each for a total of $4,800). Sheri and Meri qualify as Laureen’s dependents. Laureen also paid $1,750 for her son Ryan’s (also Laureen’s dependent) tuition and related expenses to attend his junior year at State University. Finally, Laureen paid $1,250 for herself to attend seminars at a community college to help her improve her job skills. (Leave no answer blank. Enter zero if applicable.)

a. What is the maximum amount of education credits Laureen can claim for these expenditures? Laureen's AGI is $45,000. If Laureen claims education credits for her three children and herself, how much credit is she allowed to claim in total? If she claims education credits for her children, how much of her children’s tuition costs that do not generate credits may she deduct as for AGI expenses?

-American opportunity tax credit? _______

Lifetime learning credit?_______

For AGI deduction?_______

3.In 2020, Laureen is currently single. She paid $2,400 of qualified tuition and related expenses for each of her twin daughters Sheri and Meri to attend State University as freshmen ($2,400 each for a total of $4,800). Sheri and Meri qualify as Laureen’s dependents. Laureen also paid $1,750 for her son Ryan’s (also Laureen’s dependent) tuition and related expenses to attend his junior year at State University. Finally, Laureen paid $1,250 for herself to attend seminars at a community college to help her improve her job skills.

b. Laureen’s AGI is $95,000. What is the maximum amount of education deductions Laureen can claim to the extent the costs don’t generate a credit?

For AGI deduction?_______

4.
In 2020, Laureen is currently single. She paid $2,400 of qualified tuition and related expenses for each of her twin daughters Sheri and Meri to attend State University as freshmen ($2,400 each for a total of $4,800). Sheri and Meri qualify as Laureen’s dependents. Laureen also paid $1,750 for her son Ryan’s (also Laureen’s dependent) tuition and related expenses to attend his junior year at State University. Finally, Laureen paid $1,250 for herself to attend seminars at a community college to help her improve her job skills. (Leave no answer blank. Enter zero if applicable.)

c. Laureen’s AGI is $45,000 and Laureen paid $12,100 (not $1,750) for Ryan to attend graduate school (i.e., his fifth year, not his junior year).

-American opportunity tax credit? _______

Lifetime learning credit?_______

5.This year Luke has calculated his gross tax liability at $2,240. Luke is entitled to a $3,060 nonrefundable personal tax credit, a $1,830 business tax credit, and a $820 refundable personal tax credit. In addition, Luke has had $2,850 of income taxes withheld from his salary. (Input the amount as a positive value.)

What is Luke’s net tax due or refund?

6.

In 2020, Zach is single with no dependents. He is not claimed as a dependent on another’s return. All of his income is from salary and he does not have any for AGI deductions.

What is his earned income credit in the following alternative scenarios? Use Exhibit 8-10. (Round your intermediate calculations to whole dollar amount. Round your final answer to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.)

d. Zach is 24 years old and his AGI is $4,100.

What is the earned income credit?_____

7.

Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer for a local start-up company.

What amount of child and dependent care credit can Julie claim in each of the following alternative scenarios? Use Exhibit 8-9

a. Julie paid $2,180 to the day care center and her AGI is $50,000

What is the child & dependent care credit?___

The presence of student-owned information and communication technologies (smartphones, laptops, tablets, etc.) in today's college classroom creates learning problems when students distract themselves during lectures by texting and using social media. Research on multitasking presents clear evidence that human information processing is insufficient for attending to multiple stimuli and for performing simultaneous tasks.

To collect data on how multitasking with these technologies interferes with the learning process, a carefully-designed study was conducted at a mostly residential large public university in the Northeast United States. Junco, R. In-class multitasking and academic performance. Computers in Human Behavior (2012)

At the beginning of a semester a group of students who were US residents admitted through the regular admissions process and who were taking the same courses were selected based on their high use of social media and the similarities of their college GPA's. The selected students were randomly assigned to one of 2 groups:

group 1 students were told to text and use Facebook during classes in their usual high-frequency manner;

group 2 students were told to refrain from any use of texting and Facebook during classes.

At the conclusion of the semester the semester GPA's of the students were collected. The results are shown in the table below.

IN-CLASS MUTLITASKING STUDY

Frequent Facebook Use and Texting   

x₁ = 2.87

s₁ = 0.67

n₁ = 65

No Facebook Use or Texting

x₂ = 3.16

s₂ = 0.53

n₂ = 65

Do texting and Facebook use during class have a negative affect on GPA? To answer this question perform a hypothesis test with
H₀: μ₁−μ₂ = 0
where μ₁ is the mean semester GPA of all students who text and use Facebook frequently during class and μ₂ is the mean semester GPA of all students who do not text or use Facebook during class.

Question 1. Calculate a 95% confidence interval for μ1−μ2 where μ₁ is the mean semester GPA of all students who text and use Facebook frequently during class and μ₂ is the mean semester GPA of all students who do not text or use Facebook during class.

Discuss the proper and professional use of digital communication in the workplace such as email, social media, text messaging, and instant messaging. Employers have the challenge of regulating the use of digital communication to protect the best interest of the organization.

Many businesses and individuals have gotten in trouble or experienced a public relations disaster for failing to practice good email and social media etiquette. For this assignment do the following:

Find an example online of an individual who got in trouble, or got a business in trouble, for using poor email or social media practices.

Provide a link to the source where you found the story of the individual/business.

Identify and fully discuss which concepts and/or practices from the lesson apply to the situation.

You have recently been hired by Bio Lux Company, in its relatively new treasury management department. Bio Lux was founded five years ago by Jessica Parker. Jessica found a method to produce high quality shampoo using natural ingredients. The shampoo produced by Bio Lux is in a good position to compete with other more established shampoo producers. The company is privately owned by Jessica Parker and her family, and it had sales of $12 million last year.

Bio Lux primarily sells its products through a wholesaler who distributes the products through its network of retailers throughout the country. Bio Lux’s growth to date has come from its innovation, quality, and low costs. When the company had sufficient capital, it would expand production. Relatively little formal analysis has been used in its capital budgeting process. Jessica has just read about capital budgeting techniques and has come to you for help. For starters, the company has never attempted to determine its cost of capital, and Jessica would like you to perform the analysis. Because the company is privately owned, it is difficult to determine the cost of equity for the company. Jessica wants you to use a similar company to estimate the cost of capital (WACC) for Bio Lux, and she has chosen Procter & Gamble as a representative company. The following questions will lead you through the steps to calculate this estimate.

Go to Nasdaq.com and find the list of competitors in the industry. You can do this by clicking on the search window, then enter PG (which is the ticker of Procter & Gamble). The list of competitors of the company will be available when you click on “Competitors” in the left vertical menu. Use U.S.-based competing companies for this task.

1. a) Find the beta for each of these competitors, and then calculate the industry average beta.
2. b) Using the industry average beta, what is the cost of equity?
3. c) Does it matter if you use the beta for Procter & Gamble or the beta for the industry in this case?

1. Indicate whether the following individuals are "Required" (based on income) or "Not required" to file a tax return for 2020. Click here to access the standard deduction tables to use.

2. Even though an individual has gross income below the filing level amounts and therefore does not owe any tax, he or she must file a return to obtain which of the following? Select "Yes or No" whichever is applicable.

could you check the answer and explaining why?

1. Pearl Company began operations on January 2, 2016. It employs 9 individuals who work 8-hour days and are paid hourly. Each employee earns 9 paid vacation days and 7 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows.

Pearl Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned and to accrue sick pay when earned.

a) prepare journal entries to record transactions related to compensated absences during 2016 and 2017

b) Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2016 and 2017.

2. Cullumber Company sells televisions at an average price of $879 and also offers to each customer a separate 3-year warranty contract for $93 that requires the company to perform periodic services and to replace defective parts. During 2017, the company sold 294 televisions and 204 warranty contracts for cash. It estimates the 3-year warranty costs as $21 for parts and $31 for labor, and accounts for warranties separately. Assume sales occurred on December 31, 2017, and straight-line recognition of warranty revenues occurs.

a) Record any necessary journal entries in 2017.

b) What liability relative to these transactions would appear on the December 31, 2017, balance sheet and how would it be classified?

c) In 2018, Cullumber Company incurred actual costs relative to 2017 television warranty sales of $1,920 for parts and $3,960 for labor.

Record any necessary journal entries in 2018 relative to 2017 television warranties. Use "Inventory" account to record the warranty expense.

d) What amounts relative to the 2017 television warranties would appear on the December 31, 2018, balance sheet and how would they be classified?

Fullerton Company (a U.S. taxpayer) has wholly-owned subsidiaries located in Hungary and Hong Kong. The Hungarian operation purchases electric generators manufactured by Fullerton and sells them throughout Eastern Europe; 90 percent of sales are made outside of Hungary. The Hungarian subsidiary generated pretax income of $ 200,000 in the current year. The Hong Kong subsidiary is an investment company that makes investments in world financial markets; 100 percent of its income is generated from passive investments. The Hong Kong subsidiary generated pretax income of $ 100,000 in the current year. Both subsidiaries distribute 100 percent of income to Fullerton Company as a dividend each year. Corporate income tax rates and withholding rates are provided in Exhibits 8.1 and 8.3.

Required: a. Explain why the income earned by the subsidiaries in Hungary and Hong Kong should be included in Fullerton’s U.S. taxable income.

b. Determine the amount of foreign tax credit allowed by the United States in the current year and the amount of excess foreign tax credit, if any.

Exhibit 8.1 International Corporate Tax rates, 2017

Country Effective Tax Rate (%)

Hong Kong   16.5
Hungary 9

United States 40

Exhibit 8.3

Nontreaty Withholding Rates in Selected Countries, 2017

Country Dividend Interest Royalties

Hong Kong     0 0 4.95
Hungary 0 0 0

US 30 30 30

United States 40

Please take time to view the video, “Was America Founded to Be Secular? “ as a starting point for this discussion. Explicitly discuss the concepts of religious pluralism, civil religion, and discrimination as defined in the course material in your analysis, as well as information from the historical material you discovered in your research on the Internet. Please share your thoughts.

include sources

A study conducted at a major university indicates that the tendency among undergraduates to seek the assistance of helper differs by ethnic group. You select 25 subjects each from two different ethnic groups or business majors and count the number who sought help. In ethic group A, 11 sought out helpers at some point. In ethnic group B, 17.

1. What are the frequency expected values for each group?
2. Do results support the earlier study?
3. What does the alternate hypothesis suggest about the relationship between ethnicity and help-seeking?