Should Parents Pay Their Children When They Earn High Grades in School?

We all probably recall knowing someone in school who got $5 for every “A” they earned in school. Research has found that encouragement of autonomous functioning, individual challenge, and positive feedback stimulates an intrinsic motivation to achieve (Deci & Ryan, 1985). If the environment is highly controlling, however, the internal forces for mastery-achievement may be undermined. Parents who use surveillance and frequent rewards socialize their children to be motivated by, and desire, extrinsic rewards. Two specific parenting behaviors were related to extrinsic motivation and lower school performance. They found that over controlling parents (those who engaged in extreme supervision of homework completion) had children who were more likely to rely on external sources for evaluation. Their grades and achievement scores were lower as well. Parents who relied on external rewards also had children with extrinsic motivation and lower school performance. Ginsburg and Bronstein speculate that extrinsically rewarded children use external criteria to assess their performance, which alters the children’s perception of themselves. This may undermine their ability to self-regulate and choose appropriate work. These children do not learn how to judge their own performance. Encouragement of intrinsic motivation, which is bidirectional and reciprocal, will foster independent self-evaluation and academic success. The goal is for the child to develop the ability to self-regulate and take responsibility for academic success; thus, the parents are not solely responsible for their child’s outcome. So, does paying our children for good grades motivate them to do well in school? Do you see how these children are not able to learn how to judge their own performance? Elaborate. What are some ways that parents can foster the development of intrinsic motivation?

Income inequality has grown dramatically in the US over the past 4 decades.   Is that a bad thing? Why/why not? What percentage of the US work force has enjoyed improved standards of living over the past 4 decades?   Who has received the productivity and income gains generated by the US economy over that period of time?   Should public policy be changed to encourage greater or lesser income inequality?   What changes would you advocate?

How would the statement of cash flow be different if a private university were a public college or university? Why would these differences be necessary?

The university reports a certain amount of unrestricted net assets each year. Suppose a student complained in a letter to the university president that the institution is holding back resources that should properly be used to increase faculty salaries; acquire computers and other equipment; and improve classroom facilities. What would your response be, as an accountant?

Suppose that a private university elected to report as a special-purpose government engaged in governmental and business-type activities. How would the financial statements differ from those presented? What are the pros and cons associated with reporting under each approach?

How would the statement of cash flow be different if a private university were a public college or university? Why would these differences be necessary?

The university reports a certain amount of unrestricted net assets each year. Suppose a student complained in a letter to the university president that the institution is holding back resources that should properly be used to increase faculty salaries; acquire computers and other equipment; and improve classroom facilities. What would your response be, as an accountant?

Suppose that a private university elected to report as a special-purpose government engaged in governmental and business-type activities. How would the financial statements differ from those presented? What are the pros and cons associated with reporting under each approach?

Trevor is a single individual who is a cash-method, calendar-year taxpayer. For each of the next two years (year 1 and year 2), Trevor expects to report AGI of $80,000, contribute $8,000 to charity, and pay $2,800 in state income taxes.

A. Assume that Trevor combines his anticipated charitable contributions for the next two years and makes the combined contribution in December of year 1. Estimate Trevor’s taxable income for each of the next two years using the 2018 amounts for the standard deduction.

B. Trevor plans to purchase a residence next year, and he estimates that additional property taxes and residential interest will cost $2,000 and $10,000, respectively, each year. Assume that Trevor makes the charitable contribution for year 2 and pays the real estate taxes for year 2 in December of year 1. Estimate Trevor’s taxable income for year 1 and year 2 using the 2018 amounts for the standard deduction

Consider an individual who lives for two periods t = 1, 2. Suppose she is in debt and, given an interest rate r, she optimally decides to consume (C1;C2). Now, imagine that the interest rate r falls. What do you expect to happen to her optimal consumption in the two periods? Explain your answer referring to income and substitution e§ects, to the budget constraints, and the Euler equation.

Trevor is a single individual who is a cash-method, calendar-year taxpayer. For each of the next two years (year 1 and year 2), Trevor expects to report AGI of $104,000, contribute $8,450 to charity, and pay $3,400 in state income taxes.

Required:

1. Estimate Trevor’s taxable income for year 1 and year 2 using the 2019 amounts for the standard deduction for both years.
2. Now assume that Trevor combines his anticipated charitable contributions for the next two years and makes the combined contribution in December of year 1. Estimate Trevor’s taxable income for each of the next two years using the 2019 amounts for the standard deduction.
3. Trevor plans to purchase a residence next year, and he estimates that additional property taxes and residential interest will cost $3,200 and $28,000, respectively, each year. Estimate Trevor’s taxable income for each of the next two years (year 1 and year 2) using the 2019 amounts for the standard deduction and also assuming Trevor makes the charitable contribution of $8,450 and state tax payments of $3,400 in each year.
4. Trevor plans to purchase a residence next year, and he estimates that additional property taxes and residential interest will cost $3,200 and $28,000, respectively, each year. Assume that Trevor makes the charitable contribution for year 2 and pays the real estate taxes for year 2 in December of year 1. Estimate Trevor’s taxable income for year 1 and year 2 using the 2019 amounts for the standard deduction.

For an individual who finishes dinner around 7 p.m. Which of the following metabolic processes is NOT active around midnight?

Gluconeogenesis in the liver

Liver releases glucose to the blood.

Glycogen synthesis in skeletal muscle

Glycogen breakdown in the liver

Identify an individual currently on an intermittent fasting diet, another who is on a gluten-free diet, and someone else on the Paleo diet. Critically analyze their dieting experience(s) and compare/contrast them with your own. Evaluate each in light of the most recently known science and practical experience. Would you recommend any of these diets or any other structured diet to a future client? If so, list the diet and describe how would you determine its appropriateness for a client. If you would not recommend any of these or other structured diets, detail why.

Simpson, age 45, is a single individual who is employed full time by Duff Corporation. This year Simpson reports AGI of $40,000 and has incurred the following medical expenses:

a. Calculate the amount of medical expenses that will be included with Simpson’s itemized deductions after any applicable limitations.

b. Suppose that Simpson was reimbursed for $245 of the physician's charges and $1,690 for the hospital costs. Calculate the amount of medical expenses that will be included with Simpson’s itemized deductions after any applicable limitations.