Questions
Please answer/discuss the following questions? Assume you are the RM for a newly opened theme park...

Please answer/discuss the following questions?

Assume you are the RM for a newly opened theme park in a major southwestern city. Your guests will consist primarily of families visiting the park, as well as schoolchildren on field trips and church youth groups. Yours is the only such park within 150 miles. Identify at least five non-cost factors you would want to consider as you determine the prices that will be charged for the menu items you will sell. Explain why you selected each factor chosen.

In: Economics

The four management functions are planning, organizing, leading, and controlling. Think of a job you have...

The four management functions are planning, organizing, leading, and controlling. Think of a job you have now or one you have had in the past. List the managerial activities you have done or observed. If you have never had a paid job, remember that it takes management skills to manage a home, run a baseball team, and lead a church group. Classify each activity of your job according to whether it involved planning, organizing, leading, or controlling - there should be activities under each of the four functions of management

In: Economics

Paul is 66 years old and Tina is 62 years old. They file a joint return....

Paul is 66 years old and Tina is 62 years old. They file a joint return. They support their 22-year old son, Jed, who is a full-time student. He earns $4,000 per year as a waiter in a restaurant.

Wages= $170,000

Interest from savings= 12,000

Interest on New York State qualified bond= 7,000

Inheritance from Tina's Aunt Lucy= 6,000

Contribution to IRA= 2,000

Child support from Tina's ex-husband Eric= 1,000

Prize from contest at church= 1,000

Dividend from ABC Corp stock= 2,000

Paul and Tina own a house in Whitestone. The costs associated with the house were as follows:

Mortgage interest= 7,000

Real estate taxes= 8,000

They paid hospital bills of 7,000 and doctor's bills of 6,000. Their medical insurance company reimbursed them in the amount of 3,000 for the doctor's bills. They had prescriptions in the amount of 500 and a vitamin expense of 200.

Their charitable contributions included:

2,000 paid to St. Mary's Church

500 paid to Mr. and Mrs. Elm whose house was damaged in a flood.

1. What is Paul and Tina's adjusted gross income in 2019?

2. What is Paul and Tina's standard deduction for 2019 without regard to their itemized deductions?

3. What is Paul and Tina's net itemized deduction?

4. hat is Paul and Tina's tax liability?

In: Accounting

Paul is 66 years old and Tina is 62 years old. In 2019, they file a...

Paul is 66 years old and Tina is 62 years old. In 2019, they file a joint return. They support their 22-year-old son, Jed, who is a full-time student. He earns $4,000.00 per year as a waiter at a restaurant.

Wages............................................................... $ 170,000.00

Interest from savings.......................................... $12,000.00

Interest on NYS qualified bonds........................... $7,000.00

Inheritance from Tina’s Aunt Lucy....................... $6,000.00

Child support from Tina’s ex-husband Eric........ $10,000.00

Prize from contest at church.................................. $1,000.00

Paul and Tina own a house in Whitestone. The costs associated with the house were as follows:

Mortgage interest                               $7,000.00

    (Please note: The amount of the indebtedness is under $750,000.00.)

Real estate taxes                                 $8,000.00

They paid hospital bills of $7,000.00 and doctor’s bills of $6,000.00. Their medical insurance company reimbursed them in the amount of $3,000.00 for the doctor’s bills. They had prescriptions in the amount of $500.00 and a yearly vitamin expense of $200.00.

Their charitable contributions included:

$2,000.00 paid to St. Mary’s Church

$   500.00 paid to Mr. and Mrs. Elm (neighbors) whose house was damaged in a flood

  1. What is Paul and Tina’s gross income?
  2. What is Paul’s and Tina’s adjusted gross income ?
  3. What is Paul and Tina’s standard deduction without regard to their itemized deductions?
  4. What is Paul and Tina’s net itemized deduction ?
  5. How much of the charitable donations are deductible?
  6. What is Paul and Tina’s taxable income?
  7. What is Paul and Tina’s tax liability?

In: Accounting

Daniel, age 38, is single and has the following income and expenses in 2020: Salary income...

Daniel, age 38, is single and has the following income and expenses in 2020:

Salary income $183,000
Net rent income 2,500
Dividend income 1,300
Payment of alimony (divorce finalized in March 2019) 8,000
Mortgage interest on residence 7,000
Property tax on residence 3,800
Contribution to traditional IRA (assume the amount is fully deductible) 4,500
Contribution to United Church 1,900
Loss on the sale of real estate (held for investment) 2,825
Medical expenses 3,550
State income tax 1,500
Federal income tax 2,900

a. Classify the following expenses as either "Deductible for AGI", "Deductible from AGI", or "Not deductible".

Payment of alimony (divorce finalized in March 2019) Not deductible
Mortgage interest on residence Deductible from AGI
Property tax on residence Deductible from AGI
Contribution to traditional IRA (assume the amount is fully deductible) Deductible for AGI
Contribution to United Church Deductible from AGI
Loss on the sale of real estate (held for investment) Deductible for AGI
Medical expenses Deductible from AGI
State income tax Deductible from AGI
Federal income tax Not deductible

What is Daniel's gross income and his AGI?
Gross income: $
AGI: $

b. Should Daniel itemize his deductions from AGI or take the standard deduction?
Because Daniel's total itemized deductions (after any limitations) are $, he would benefit from itemizing his deductions .

In: Accounting

Your client, Gwendolyn R. Nichols, SSN: 113-33-3333, DOB: 05-01-1941, attends her annual appointment with you to...

Your client, Gwendolyn R. Nichols, SSN: 113-33-3333, DOB: 05-01-1941, attends her annual appointment with you to discuss the filing of her 2018 Federal Income Tax return. Gwendolyn is a widow, her husband, Harold T. Nichols, SSN: 144-44-4444, DOB: 05-13-1939, died on December 11, 2017 of natural causes. She tells you that she paid $11,000 in funeral expenses in January of 2018. Gwendolyn cares for two of her great-grandchildren, Jordan A. Lancaster, SSN: 115-55-5555, DOB: 12-15-2009 and Rose G. Lancaster, SSN: 116-66-6666, DOB: 08-03-2013. Her great-grandchildren live with her full-time. Gwendolyn’s grand-daughter, Therese Lancaster, SSN: 117-77-7777, DOB 03-15-1990, the mother of Gwendolyn’s great-grandchildren, lived with Gwendolyn from May of 2017 through January of 2019. She had a few off and on jobs, Gwendolyn isn’t sure how much she made from work, but says that it wasn’t very much because she wasn’t employed most of the time she lived with her. Gwendolyn tells you that she decreased her hours as a clerk at the library this year and that now she only works about 10 hours each week. She has a W-2 from the library reporting $12,500 in wages. She receives social security benefits of $1,000 per month and she still receives about $10,000 each year in tax-exempt interest. She also receives $750.00 per month from her late husband’s pension. She has provided you with all of the supporting tax documents for these items of income. She owns the residence at 123 West Kansas Street, Pittsburg, Kansas 66762 and has a small mortgage on the property which she took out several years ago to pay for a new roof. She paid real estate property tax on her home of $750. She also owns a 2010 Buick LeSabre and she provides you with a copy of the property tax statement. Gwendolyn is on Medicare and most of her medical expenses are paid. However, she advises you that she paid a total of $1,000 in medical services for various doctor’s appointments, eye glasses and prescriptions for herself. Jordan and Rose have Kansas HealthWave insurance which costs Gwendolyn $100 dollars a month. She also had $500 in additional health care costs for her great-grandchildren. Gwendolyn is an active member of her local Christian church and she donated $500 to the church in the form of cash charitable contributions and she made them a quilt which she donated for a fund-raising raffle. The quilt cost her about $200 for materials and she estimates its value at $600. Gwendolyn provides you the following documents related to her 2018 tax return: W-2 from the Pittsburg Community Library 1099 SSA Social Security Statement 1099-INT from Security Investments, Inc. 1099-R from the Fireman’s Pension fund 2018 Real Estate Property Tax Receipt 2018 Personal Property Tax Receipt Charitable contributions statements 1099-G regarding State of Kansas Tax Refund for 2017 1098 Mortgage Interest Statement Tax Bill for preparation of 2017 taxes, paid Gwendolyn requests that you complete her 2018 federal income tax return. For purposes of this assignment you may assume that all persons are covered by insurance for the entire year. You do not need to complete a state income tax return. You also do not need to concern yourself with any child tax credits. Please complete all attached forms and show how you calculated tax. In addition to completing his tax return, please also answer the following questions:

3. Should she file with a standard or itemized deductions, why?

In: Accounting

Use SPSS to determine if academic program is related to feelings about PSYC 3002 by computing...

Use SPSS to determine if academic program is related to feelings about PSYC 3002 by computing the appropriate chi square test.

1. Recall the four scales of measurement you learned about in Week 1 (i.e., nominal, ordinal, interval, ratio). Explain what scale of measurement is used to measure academic program in this example. How do you know?

2. Explain what scale of measurement is used to measure feeling about PSYC 3002. Explain how you know.

3. State whether this scenario requires a goodness of fit test or a test of independence. Explain your answer.

4. Before computing the chi square, state the null hypothesis and alternative hypothesis in words (not formulas).

5. Identify the obtained χ2 using SPSS and report it in your answer document.

6. State the degrees of freedom and explain how you calculated it by hand.

7. Identify the p value using SPSS and report it in your answer document.

8. Explain whether you should retain or reject the null hypothesis and why.

9. Are the results statistically significant? How do you know?

10. Explain what you can determine about the relationship between academic program and feelings about PSYC 3002.

DATA SET:

Nursing Psychology
Nervous 16 3
Excited 4 17


Another way of looking at this data set would be:
16 Nervous Nursing Students
3 Nervous Psychology Students
4 Excited Nursing Students
17 Excited Psychology Students

In: Statistics and Probability

Western State University (WSU) is preparing its master budget for the upcoming academic year. Currently, 16,500...

Western State University (WSU) is preparing its master budget for the upcoming academic year. Currently, 16,500 students are enrolled on campus; however, the admissions office is forecasting a 8 percent growth in the student body despite a tuition hike to $85 per credit hour. The following additional information has been gathered from an examination of university records and conversations with university officials:

WSU is planning to award 200 tuition-free scholarships.

The average class has 20 students, and the typical student takes 15 credit hours each semester. Each class is three credit hours.

WSU’s faculty members are evaluated on the basis of teaching, research, and university and community service. Each faculty member teaches five classes during the academic year.

Required:

Prepare a tuition revenue budget for the upcoming academic year.

Determine the number of faculty members needed to cover classes.

Assume there is a shortage of full-time faculty members. Select at least five actions that WSU might take to accommodate the growing student body by selecting an "X" next to the action.

You have been requested by the university’s administrative vice president (AVP) to construct budgets for other areas of operation (e.g., the library, grounds, dormitories, and maintenance). The AVP noted: “The most important resource of the university is its faculty. Now that you know the number of faculty needed, you can prepare the other budgets. Faculty members are indeed the key driver—without them we don’t operate.” Are faculty members a key driver in preparing budgets?

In: Accounting

Western State University (WSU) is preparing its master budget for the upcoming academic year. Currently, 12,000...

Western State University (WSU) is preparing its master budget for the upcoming academic year. Currently, 12,000 students are enrolled on campus; however, the admissions office is forecasting a 7 percent growth in the student body despite a tuition hike to $80 per credit hour. The following additional information has been gathered from an examination of university records and conversations with university officials:

  • WSU is planning to award 160 tuition-free scholarships.
  • The average class has 20 students, and the typical student takes 20 credit hours each semester. Each class is four credit hours.
  • WSU’s faculty members are evaluated on the basis of teaching, research, and university and community service. Each faculty member teaches five classes during the academic year.


Required:
1. Prepare a tuition revenue budget for the upcoming academic year.
2. Determine the number of faculty members needed to cover classes.
3. Assume there is a shortage of full-time faculty members. Select at least five actions that WSU might take to accommodate the growing student body by selecting an "X" next to the action.
4. You have been requested by the university’s administrative vice president (AVP) to construct budgets for other areas of operation (e.g., the library, grounds, dormitories, and maintenance). The AVP noted: “The most important resource of the university is its faculty. Now that you know the number of faculty needed, you can prepare the other budgets. Faculty members are indeed the key driver—without them we don’t operate.” Are faculty members a key driver in preparing budgets?

In: Accounting

The nature of federalism is dynamic. It undergoes changes as changes in the demands of society...

The nature of federalism is dynamic. It undergoes changes as changes in the demands of society occur. What is the relationship between contemporary politics and trends in the size and power of the federal government? Many state governments argue that making federal funds dependent on state cooperation with national goals is “federal blackmail.” Why must the federal government use these financial incentives (and disincentives) instead of simply legislating that states do what the federal government wants? Does federalism retain substantial value in the modern era, or is it an obsolete obstruction which should be abandoned? Do you think it is better to leave issues like gun control and capital punishment to individual states?

(Make sure of one original post requiring 200-300 words in length)

In: Economics