Apple reported the following pre tax income (loss) during 2010-2017
| Income (Loss) | Tax Rate | Date rate enacted into law | ||
| 2010 | 180,000 | 35% | 1/1/02 | |
| 2011 | 125,000 | 35% | ||
| 2012 | 60,000 | 35% | ||
| 2013 | 80,000 | 35% | ||
| 2014 | 70,000 | 38% | 1/1/14 | |
| 2015 | (200,000) | 40% | 1/1/15 | |
| 2016 | 80,000 | 40% | ||
| 2017 | 220,000 | 35% | 1/1/17 | |
There are no temporary or permanent differences between taxable income and EBIT for ALL years
Assume Apple will elect to carryback losses to the extent possible
Also assume that at 12/31/15 Apple is reasonably confident that they will have $30,000 of taxable income in 2016
Required:
A) prepare journal entries for 2010-2017 for income tax expenses/benefit.
B) Draft the lower portion of the 2015 income statement starting with EBIT
C) Draft the lower portion of 2016 Income statement starting with EBIT
In: Accounting
Taxi Dancing around the Question of Regulation
Uber is a ridesharing service introduced in San Francisco in 2009 and quickly expanded to 140 U.S. cities and 40 foreign countries. Customers “e-hail” a ride through an app on their smartphone and a ride is there within minutes. The service is cheaper than a typical taxi and there is no cash involved as the charges come straight from the customer’s credit card. The service has its detractors, including cab services and some dissatisfied customers.
Management Update: Add drivers to the list of possible Uber detractors. In September 2015, a California judge granted class-action status to an employee status lawsuit filed against the company. The suit is open to all Uber drivers in California. The lawsuit claims Uber misclassified its employees as contract workers. It alleges Uber treats drivers like employees without providing the requisite benefits. Uber plans to appeal the decision saying there really is no “typical” driver, the key question at issue. If the suit is successful, it could mean the end of Uber
“Innovation and regulation simply don’t work together.” So says Larry Downes, the victim of the cab ride described at the outset of the case and formerly of the Northwestern University School of Law and the University of California-Berkeley’s Haas School of Business. Assuming that he’s right, why is this so? Why is regulation often incompatible with innovation? Why do we regulate most industries in the first place? In your opinion, what sort of tradeoffs should we seek when we try to balance the opposing advantages of regulation and innovation?
In: Operations Management
Suppose researchers find a cheaper way to feed cows. In the long-run, who stand to benefit from this innovation? (assume dairy market is perfectly competitive)
farmers
buyers of milk
both farmers and buyers of milk equally
impossible to answer with the information given
reduce output
expand output
In: Economics
Which of the following statements regarding monopoly and perfectly competitive markets are correct?
| a. |
In a monopoly market, the firm is a price-maker. |
|
| b. |
In a perfectly competitive market, firms invest in research and innovation. |
|
| c. |
In a perfectly competitive market, there is little advertising. |
|
| d. |
In a monopoly market, owners receive no economic rent. |
In: Economics
What is convection cooling? How can you construct a building so that convection cooling occurs?
What are thermal bridges? Give an example of some ways to eliminate them when you are building?
What is the intention of the Innovation and Design Credits? What are the responsibilities of the LEED Accredited Professional on a project?
In: Civil Engineering
One of the basic elements of Roger's diffusion theory is the concept of adoption process which deals with the mental stages through which an individual passes from the time of his or her first knowledge of an innovation to the time of product adoption or purchase. Briefly describe these stages giving examples of Apples' iPhone.
In: Finance
Before knowledge is shared, it needs to be either created or captured. Creation of knowledge requires bringing innovative ideas together. One of the ways to foster innovative ideas is through slogans and analogies. Elaborate the successful approaches of Honda, Canon, Sharp, Matsishuta, etc. in bringing out innovation and fundamental breakthroughs.
In: Operations Management
Many times, innovative idea comes from other industries or other fields of work, please provide one example of such innovation.
Read more about this from HBR's Sometimes the Best Ideas Come from Outside Your Industry (M. Poetz, N. Franke, and M. Schreier).
In: Operations Management
CE102-Total Leadership in Innovation
1. What are your greatest leadership strengths?
2.What are your opportunities for growth as a leader?
3.How can you capitalize on your strengths?
4.What can you do to improve in areas where you have opportunities for growth?
In: Civil Engineering
Suppose a company invests in technological innovation
and, therefore, has lower capital
stocks in the current period. What are the effects on current
aggregate output, consumption, investment, employment, real wage,
real interest rate, nominal interest rate, and price level? Explain
your results and show the graph.
In: Economics