he executor of Rose Shield’s estate listed the following properties (at fair value):
| Cash | $ | 315,000 | |
| Life insurance receivable | 215,000 | ||
| Investments in stocks and bonds | 115,000 | ||
| Rental property | 93,000 | ||
| Personal property | 145,000 | ||
Following are the transactions that occur in the months following the decedent’s death:
(1) Claims of $83,000 are made against the estate for various debts incurred before the decedent’s death.
(2) Interest of $15,000 is received from bonds held by the estate. Of this amount, $6,500 had been earned prior to death.
(3) Ordinary repairs costing $7,500 are made to the rental property.
(4) All debts ($83,000) are paid.
(5) Stocks recorded in the estate at $17,500 are sold for $22,000 cash.
(6) Rental income of $17,000 is collected. Of this amount, $3,500 had been earned prior to the decedent’s death.
(7) Cash of $6,300 is distributed to Jim Arness, an income beneficiary.
(8) The proceeds from the life insurance policy are collected and the money is immediately distributed to Amanda Blake as specified in the decedent’s will.
(9) Funeral expenses of $13,000 are paid.
Prepare journal entries to record the property held by Ms. Shield’s estate and then each of the above transactions that occur in the months following the decedent’s death:
Prepare in proper form a charge and discharge statement.
In: Accounting
Nearly a decade-and-a-half ago The Economist magazine noted (“Pop, Crackle, Snap,” April 3, 2004), “Even desperate job-seekers think twice about accepting hazardous work such as coal-mining, cow slaughtering or cleaning up asbestos sites.” Oh, really?!? Suppose different types of people have different tastes for wages and safety. Specifically, Type 1 people are very safety-oriented while Type 2 will do “anything” for money. Suppose employers are able to provide different combinations of wages and safety. Specifically, for Type A employers safety is relatively easy/inexpensive to provide. For Type B employers safety is relatively difficult/expensive to provide.
A. Draw and identify the different workers’ indifference curves for wages and safety. Explain which curve(s) represents which type of worker.
B. Draw and identify the different firms’ isoprofit curves for wages and safety. Explain which curve(s) represents which firm.
C. Given your answers in Parts A and B above, use suitable economic analysis to demonstrate whether or not people can be persuaded to do dangerous work.
In: Economics
| 2003 | 2004 | 2005 | 2006 | |
| Cash and Short Term Investments | 51.421 | 58.054 | 60.651 | 72.122 |
| Accounts Receivable | 12.394 | 17.256 | 25.158 | 30.919 |
| Inventory | 4.350 | 5.398 | 7.358 | 8.714 |
| Prepaid Expenses and Deferred Taxes | 3.887 | 3.905 | 9.607 | 15.863 |
| Current Assets | 72.052 | 84.613 | 102.774 | 127.618 |
| Property, Plant and Equipment | 146.362 | 201.725 | 268.809 | 345.977 |
| Goodwill and Other Assets | 38.421 | 38.334 | 66.084 | 69.014 |
| Total Assets | 256.835 | 324.672 | 437.667 | 542.609 |
| Accounts Payable | 8.072 | 5.840 | 4.422 | 5.800 |
| Acrued Expenses and Deferred Revenue | 37.571 | 49.865 | 82.443 | 103.810 |
| Current Liabilities | 45.643 | 55.705 | 86.865 | 109.610 |
| Deferred Rent and Other Liabilities | 13.616 | 27.604 | 33.824 | 35.333 |
| Total Liabilities | 59.259 | 83.309 | 120.689 | 144.943 |
| Equity | 197.576 | 241.363 | 316.978 | 397.666 |
| Total Liabilities and Equity | 256.835 | 324.672 | 437.667 | 542.609 |
Develop a 5 year Financial Forecast
In: Finance
show graphically and explain how the x-intercept, the
y-intercept and the slope of the budget line changes for each of
the following scenarios
a. The price of X changes
b. the price of y changes
c. Money income changes
In: Economics
Please answer this chart for me. Thanks.
|
Normal |
Abnormal |
Objective |
Analysis |
|
Lung: Alveolus |
Pneumonia |
Distinguish the major changes, and which tissue(s) is/are affected. |
Based on the changes you observed, predict signs/symptoms. Explain why pneumonia patients may be short of breath. |
|
Lung: bronchus |
COPD |
Distinguish the major changes, and which tissue(s) is/are affected. |
Based on the changes you observed, predict signs/symptoms. |
|
Lung : alveolus |
Emphysema |
Distinguish the major changes, and which tissue(s) is/are affected. |
Based on the changes you observed, predict signs/symptoms. |
|
Lung |
Lung Cancer |
Distinguish the major changes, and which tissue(s) is/are affected. |
Based on the changes you observed, predict signs/symptoms. |
In: Anatomy and Physiology
Consider the following scenario.
(1) France and Italy
only trade with each other;
(2) each country is only capable of producing 2 goods, Wine and
Bread;
(3) the production of Bread is relatively capital intensive, and
the production of Wine is relatively labor intensive, and
(4) France is relatively abundant in capital, while Italy is
relatively abundant in labor. All assumptions from our class about
the Heckscher-Ohlin model hold, in particular the fact that both
countries have identical homothetic preferences, constant returns
to scale in production, the countries are the same size, etc...
For the sake of consistency, put BREAD on the X-axis of any PPF graphs you might be inclined to draw.
a. Compare the
relative prices of Wine and Bread in each country under autarky. Be
sure to thoroughly explain your answer, possibly using a graph(s)
for a visual aid. (Answer should be at least one paragraph in
length. Quality of your answer determines grade.)
b. Sketch excess demand/excess supply curves for Bread consistent
with the scenario when the countries open for free trade. Be sure
to carefully draw your graph and identify all relevant parts.
c. Describe what happens to factor payments in France with trade.
Be sure to thoroughly explain your answer using what you have
learned from the class. (Answer should be at least one paragraph in
length.
d. Academic research on alcoholism induces a change in preferences
for the goods. In both countries, Wine becomes less desirable
relative to Bread. In words and possibly with pictures, describe
the impact of this change in preferences on the two economies. You
should be sure to include a discussion on the changes in the prices
of goods and production factors.
In: Economics
For much of the past century, the conflict between
Israelis and Palestinians has
been a defining feature of the Middle East. Despite billions of
dollars expended to
support, oppose, or seek to resolve it, the conflict has endured
for decades, with
periodic violent eruptions, of which the Israel-Gaza confrontation
in the summer of
2014 is only the most recent.
This executive summary highlights findings from a study by a team
of RAND
researchers that estimates the net costs and benefits over the next
ten years of five
alternative trajectories — a two-state solution, coordinated
unilateral withdrawal,
uncoordinated unilateral withdrawal, nonviolent resistance, and
violent uprising —
compared with the costs and benefits of a continuing impasse that
evolves in
accordance with present trends. The analysis focuses on economic
costs related to
the conflict, including the economic costs of security. In
addition, intangible costs
are briefly examined, and the costs of each scenario to the
international community
have been calculated.
The economy of the Palestinian Territory was a viable and thriving
one before the
occupation in June 1967. It generated significant production and
income that
sustained a growing population of 1 million people and generated a
gross domestic
product (GDP) per capita of about $1,349 in 2004 prices, which was
sufficient for it
to be considered a lower-middle-income economy at that time.
Tragically, it has
become a land on the verge of economic and humanitarian
collapse.
In 2014, the GDP growth rate in the Palestinian Territory turned
negative, for the
first time since 2006. The Gaza Strip is becoming increasingly
unliveable and could
become totally unliveable by 2020. According to the Palestinian
Central Bureau of
Statistics, the unemployment rate in Gaza was 45 per cent in 2014,
with over 63
per cent of Gaza’s young people unemployed, which is the highest
rate in the world.
Female unemployment in the Palestinian Territory was around 40 per
cent and
more than 60 per cent in Gaza. Nearly 40 per cent of Palestinians
live below the
poverty line. Clean water is a rarity, with at least 90 per cent of
Gaza’s water supply
unfit for human consumption. Electricity in Gaza is also sporadic
and unreliable,
available only four to six hours a day, and a properly functioning
sewage treatment
system no longer exists.
Seven key findings were identified (1): A two-state solution
provides by far the best
economic outcomes for both Israelis and Palestinians. Israelis
would gain over two
times more than the Palestinians in absolute terms — $123 billion
versus $50
billion over ten years. But the Palestinians would gain more
proportionately, with
average per capita income increasing by approximately 36 percent
over what it
would have been in 2024, versus 5 percent for the average Israeli.
A return to
violence would have profoundly negative economic consequences for
both Palestinians and Israelis; per capita gross domestic product
would fall by 46
percent in the West Bank and Gaza and by 10 percent in Israel by
2024. In most
scenarios, the value of economic opportunities gained or lost by
both parties is
much larger than expected changes in direct costs. Unilateral
withdrawal by Israel
from the West Bank would impose large economic costs on Israelis
unless the
international community shoulders a substantial portion of the
costs of relocating
settlers. Intangible factors, such as each party's security and
sovereignty
aspirations, are critical considerations in understanding and
resolving the impasse.
Taking advantage of the economic opportunities of a two-state
solution would
require substantial investments from the public and private sectors
of the
international community and from both parties.
9. What was the approximate gross domestic production
(in RS.) in year 2004? (1$ =
73.25 INR)
(a) 877078.50 (b) 988142.5 (c) 978650.25 (d) 967892.5
10.The total population of the Palestinian Territory increased by
20% over a decade
from 2004, out of which 75% of the people lived in Gaza. Also, if
60% of Gaza’s
population is considered to be young then the total number of
persons who are not
young but are still unemployed are: (Consider all the people who
live outside Gaza
as employed)
(a) 65000
(b) 64000
(c) 64800
(d) None of these
In: Accounting
Marcia Miller died July 23, 2017. Marcia (born April 2, 1930) resided at 117 Brandywine Way, Eastern City, PA 19000 and was a lifelong Pennsylvania resident. Her first husband, Arthur Adams, died in 1999. In June 1999, she married Matt Miller, a U.S. citizen, who survived her. Marcia has three children (Andy, Annie, and Archie Adams) from her first marriage.
Date of death values of the properties discovered at Marcia’s death are listed below.
Principal residence with a value of $420,000. Purchased by Marcia in 2001 and titles in the names of Matt and Marcia Miller, joint tenants with right of survivorship.
Household furnishings acquired by Marcia during her first marriage and values at $62,000 when she died.
$1 million cash in money market account in Marcia’s name. On her date of death, there also was $2,200 of accrued interest in the account.
$17,000 checking account at Keystone State Bank in the names of Marcia and Matt as tenants in common.
Stock portfolio in Marcia’s name with fair market value at her death of $5.6 million.
$1 million like insurance policy. Marcia purchased the policy in 1990 and held incidents of ownership. Beneficiary is Marcia’s estate, and Marcia held incidents of ownership.
Trust at Quaker State Bank with value of $500,000. The trust was created under the will of Marcia’s uncle, Josh Judson, who died in 1992. Marcia was entitled to receive all the income annually for life and was granted the power to will the property to such of her descendants as she so desired with the specification that, if she did not exercise the power, the property would pass to Josh’s Former housekeeper, Yvonne Jones.
Marcia’s will includes the following provisions:
I bequeath to Matt all of my tangible, personal property.
To First Lutheran Church I leave $50,000.
To a trust with PHL Bank I leave $200,000. Matt is to receive all the trust income quarterly for life, and the remainder is to be divided equally at his death among my three children or their estates.
I leave my sister Annette $100,000, but if she disclaims this amount, it will go to my beloved Matthew.
I appointed the property on the trust at Quaker State Bank to Annie Adams.
The rest of my property I leave to Andy (my first born).
Other pertinent information follows:
As of her date of death, Marcia owed her country club $800.
The cost of Marcia’s funeral and tombstone totaled $15,000.
Her accountant’s, attorney’s, and executor’s fees are estimated to be $120,000.
Annette made a qualified disclaimer of the $100,000 bequest.
Marcia’s executor, Susan, will make whatever elections will result in the lower tax payable. During her life, Marcia never made any taxable gifts and never consented to gift splitting.
Assume that, under state law, taxes and nay other costs associated with death are payable from the estate’s residue and that the state death tax owed is equal to the state death tax credit available on the federal estate tax return.
Prepare an estate tax return (Form 706) for Marcia. You will also need to prepare the following sub-schedules for Marcia:
B, C, D, E, F, J, K, M, O (These forms all need to be downloaded from the IRS website and the numbers must be manually loaded into the forms and then printed).
In: Accounting
During 2019 ROD Company has the following changes in its ordinary outstanding: Dates Shares changes Number of shares January 1 Beginning balance 280000 February 28 Issued 20000 May 31 Acquisition of share for treasury 50000 August 1 20% share dividends Oct 1 shares issued for cash 120000 Nov. 1 Sold treasury shares 30000 Dec1 Share split 1to3 after treasury Dec1 After split issued 150,000 Other information: 1- Company has 2% convertible bonds (every $10 bonds can be convert for one ordinary share) at $5000000, interest paid seminally June 30and December 31 2- Share options for the manager was outstanding during the period, the option was rights to manager to purchase 10000 shares at $8, the share par value was $5 and the market price $16. 3- 5% cumulative preference share (10000 shares at $40), there isn’t dividend in arrears can be convert to 100,000 ordinary shares. 4- The beginning balance for retained earnings 1,200,000. Sales revenues 1000000, Operating expenses was 640,0000 including cost of goods sold 400,000, the interest for the years was just for bonds, other losses or gains credit 40,000, the rate of income tax was 20%. Required According to above information compute basic and diluted earning per share and represented in the income statement for the year ended 31, December 2019?
In: Accounting
Accounting changes can have direct and indirect effects on financial statement presentation. Discuss how accounting changes can alter a presentation.
In: Accounting