I4) Brad, who uses the cash method of accounting, lives in a state that imposes an income tax

(including withholding from wages). On April 14, 2008, he files his state return for 2007, paying

an additional $600 in state income taxes. During 2008, his withholdings for state income tax

purposes amount to $3,550. On April 13, 2009, he files his state return for 2008 claiming a

refund of $800. Brad receives the refund on August 3, 2009. If he itemizes deductions, how

much may Brad claim as a deduction for state income taxes on his Federal income tax return for

calendar year 2008 (filed in April 2009)?

a. $3,350.

b. $3,550.

c. $4,150.

d. ss, l 50.

e. None of the above.

I 5) Rick and Carol Ryan, married taxpayers, took out a mortgage on their home for $160,000 ten

years ago. In October of the current year, when the home had a fair market value of $200,000 and

they owed $ I 25,000 on the mortgage, the Ryans took out a home equity loan for $1 10,000. They

used the funds to purchase a sailboat to be used for recreational purposes. The sailboat does not

qualify as a residence. What is the maximum amount of debt on which the Ryans can deduct

home equity interest?

a. $75,000.

b. $90,000.

c. Sl10,000.

d. $125,000.

e. None of the above.

I 6) Joseph and Sandra, married taxpayers, took out a mortgage on their home for $350,000 in 1989.

In May of this year, when the home had a fair market value of $450,000 and they owed $250,000

on the mortgage, they took out a home equity loan for $220,000. They used the funds to purchase

a single engine airplane to be used for recreational travel purposes. What is the maximum amount

of debt on which they can deduct home equity interest?

a. $50,000

b. $100,000

c. $220,000

d. $230,000

e. None of the above

17) Pedro's child attends a school operated by the church the family attends. Pedro made a donation

of $1,000 to the church in lieu of the normal registration fee of $200. In addition, Pedro paid the

regular tuition of $6,000 to the school. Based on this information, what is Pedro's charitable

contribution?

a. $0

b. $800

c. $1,000

d. $6,800

Patricia is 32 years old and she grew up in a Catholic family, who observed strict traditions. Patricia is a devout Catholic and she attends church every week. She teaches at Sunday school and often helps with local fundraising activities for the church when asked to by the local priest. She lives in a unit with her husband Harry. Patricia has only had one sexual partner because she did not believe in sex before marriage. They were married eight years ago. One Saturday afternoon Patricia was watching TV whilst she was in the kitchen making Harry some dinner. Harry came in and flicked the TV onto sports and Patricia was not impressed and said to him “You are so selfish, I do everything for you and I cannot even watch my favourite TV show!!”. Harry replied and said, “You are just a drama queen”. He then threw the TV remote at her, approached her and said “If you do not let me watch tv I will throw you down and choke you, tie you up and leave you in your room for days. That way I won’t have to hear you nagging”. He then said “You are too busy with other things and do not give me any attention. That is why I have been cheating on you with Jade, the women in apartment A1 downstairs”. Patricia was furious with Harry and without thinking stabbed Harry twice in the face with a knife, causing him to fall to the floor. She threw the dinner she had been making over him, then proceeded to stab and kill him in a savage and brutal attack. Patricia later told police, “When he said he was cheating I felt terrible, my mind started to go, like an explosion in my head, I do not remember much”. The police medical report revealed that the victim had been stabbed twice in the eye and numerous times to the back (10 stab injuries), one of which penetrated his right lung.

Advise whether Patricia is liable for murder. Advise what defences if any Patricia may raise. (NSW LAW)

6.4) 1. U.S. Internet advertising revenue grew at the rate of

R(t) = 0.82t + 1.14    (0 ≤ t ≤ 4)

billion dollars/year between 2002

(t = 0)

and 2006

(t = 4).

The advertising revenue in 2002 was $5.9 billion.†

(a)

Find an expression f(t) giving the advertising revenue in year t.

f(t) =

(b)

If the trend continued, what was the Internet advertising revenue in 2009? (Enter your answer in billions of dollars. Round your answer to two decimal places.)

$ billion

6.5 1.) The increase in carbon dioxide (CO₂) in the atmosphere is a major cause of global warming. Using data obtained by Charles David Keeling, professor at Scripps Institution of Oceanography, the average amount of CO₂ in the atmosphere from 1958 through 2010 is approximated by

A(t) = 0.012313t² + 0.7545t + 313.9    (1 ≤ t ≤ 53)

where A(t) is measured in parts per million volume (ppmv) and t in years, with t = 1 corresponding to 1958.† Find the average amount of CO₂ in the atmosphere from 1958 through 2010. (Round your answer to two decimal places.)

6.7.1) It is known that the quantity demanded of a certain make of portable hair dryer is x hundred units/week and the corresponding wholesale unit price is

p =

dollars. Determine the consumers' surplus if the market price is set at $15/unit. (Round your answer to two decimal places.)
$

6.7.2) The manufacturer of a brand of mattresses will make x hundred units available in the market when the unit price is

p = 150 + 90e^0.04x

dollars.

(a) Find the number of mattresses the manufacturer will make available in the market place if the unit price is set at $400/mattress. (Round your answer to the nearest integer.)
mattresses

(b) Use the result of part (a) to find the producers' surplus if the unit price is set at $400/mattress. (Round your answer to the nearest dollar.)
$

1. Compute the short-term solvency ratios: current ratio, quick ratio

2. Compute the long-term solvency ratios: total-debt-to-total-invested-capital ratio, total-debt-to-total-equity ratio, equity multiplier.1. Compute the short-term solvency ratios: current ratio, quick ratio

3. Compute the turnover ratios: inventory turnover, days sales outstanding, total asset turnover

4. Compute the profitability measures: operating margin, profit margin, return on assets, return on equity

5. The stock price is $40 per share and there are 1000 shares outstanding, compute market value measures: P/E ratio, market/book ratio

6. Use the Du Pont Identity to compute the return on equity.

7. Suppose the firm decides to reduce its total debt ratio to 0.2 by selling new common stock and using the proceeds to repay principal on some outstanding long-term debt. How much equity financing will Coogan have to raise?

1. Compute the short-term solvency ratios: current ratio, quick ratio

2. Compute the long-term solvency ratios: total-debt-to-total-invested-capital ratio, total-debt-to-total-equity ratio, equity multiplier.1. Compute the short-term solvency ratios: current ratio, quick ratio

3. Compute the turnover ratios: inventory turnover, days sales outstanding, total asset turnover

4. Compute the profitability measures: operating margin, profit margin, return on assets, return on equity

5. The stock price is $40 per share and there are 1000 shares outstanding, compute market value measures: P/E ratio, market/book ratio

6. Use the Du Pont Identity to compute the return on equity.

7. Suppose the firm decides to reduce its total debt ratio to 0.2 by selling new common stock and using the proceeds to repay principal on some outstanding long-term debt. How much equity financing will Coogan have to raise?

1. The following table shows the data for Canada’s aggregate production function with constant return to scale and the output elasticity with respect to capital equal to 0.3.

a). Find the values of total factor productivity for the given years above.

I only used the Capital output elasticity(0.3) mentioned in the question here even though in my notes it mentions it being 0.7 in Canada

Y= (A)(K^αK*)(N^αN)

A= TFP, Y= GDP, K= Capital, N=Labor αK=Capital output elasticity, αN=Labor output elasticity

A= Y/(K^αK)(N^αN) THEREFORE

TFP(1961)= (264.5)/((525.6)^0.3(6.06)) = 6.65

TFP(1971)= (437.7)/((824.7)^0.3(8.08)) = 7.23

TFP(1981)= (647.3)/((1277.4)^0.3(11.31)) = 6.69

TFP(1991)= (808.1)/((1715.1)^0.3(12.86)) = 6.73

TFP(2001)= (1120.1)/((2071.1)^0.3(14.94)) = 7.59

TFP(2010)= (1325)/((2668.7)^0.3(17.04)) = 7.29

Just want to verify my numbers are correct here before moving forward?

b). Complete the following table by calculating the average annual growth rates (%) for GDP, capital stock, employment, and total factor productivity. While it is not necessary to show all your calculations, show the formulae you use, and also explain and illustrate how you obtain your answers.

Question 2

In order to audit a public company more effectively, the PCAOB purposed the standard of:

Question 3

The Sarbanes-Oxley Act of 2002 gave the PCAOB which of the following significant powers?

Quest

The PCAOB is an independent body overseen by the Securities and Exchange Commission.

Question 5

What characteristic describes the general function of the independent auditor?

Question 6

The Sarbanes-Oxley Act of 2002 give the PCAOB significant powers to perform the following functions except:

Question 7

The financial reporting of a public company under federal securities law is a continuous disclosure process.

Question 8

The mission of the PCAOB is:

Question 9

Although accounting records can never provide sufficient evidence, they nevertheless provide _______________ evidence.

Question 10

What are the primary outputs of the process for developing auditing standards?

Case Study: Personal Beliefs in the Workplace Don Shakow was a prominent professional who worked in Seattle and Massachusetts in U.S. This case study discusses the nature of Don Shakow’s professional and personal lives. When you read the case study, notice that Don had controversial personal opinions and choices. The heading of Don Shakow’s obituary reads, "Don Shakow’s moral beliefs put to test in the workplace." Although as an economist (rather than an engineer), Shakow’s commitments and expertise certainly overlapped those of engineers. Among other things, he served as an expert witness on the economics of rapid-transit and public energy proposals. In the mid-70s, he joined Mathematical Sciences Northwest to evaluate proposed power projects for Seattle City Light Company, the city’s electricity utility. His finding that regional energy needs were seriously over-estimated resulted in Seattle City Light withdrawing its support for two Washington public power supply system nuclear plants. Shakow’s former colleague, Frank Miller, commented that their eventual construction "resulted in the largest utility-bond default in U.S. history." Shakow supported many liberal political causes, such as organic farming, home grown food, and food cooperatives. He protested against the Vietnam War. He co-founded the Little Bread Co., which carried messages on its reader board, such as "We Can’t Support One Gov’t ‒ Let Alone Thieu" (A reference to the then premier of South Vietnam). No doubt a somewhat controversial figure throughout his activist life, he was characterized by the reporter, Carole Beers, as "that rare individual: he fully integrated his moral beliefs into his work life." Page 2 of 3 Discuss the difficulties of fully integrating one’s moral beliefs into one’s work life.

1. According to this case, what was the key thing Don Shakow was doing in his life? ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________

2. Is it desirable to try to mix ones moral beliefs with work life? Support your answer with an example. ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________

3. Can one’s personal obligations conflict with the obligations that one has as a professional engineer or employee?

Support your answer with an example. _______________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________

4. If so, how should such a conflict be resolved?

One of the factors that impact economic growth is changes to structure of economic production. Some examples of this include: changes in the relative demands for different goods and services, changes in technology, changes in the relative prices of raw materials, and changes in the sectoral composition of production. During the health pandemic we saw temporary examples of how firms switched to production from their usual business products to the production of health goods such as masks, alcohol, sanitizer etc. to respond to the spike in demand for these goods and the economic environment, which perhaps resulted in the demand for their own goods suddenly disappearing.

Discuss how you think the sectoral composition of production in Canada may change more permanently post- COVID-19.

The rational expectations hypothesis states that

A. people combine the effect of past policy changes on important economic variables with unpredictable views on what policy makers will do to determine what the economy will do in the future.

B. people understand how the economy operates and use their knowledge in making expectations about the future, but are uninformed about how fiscal and monetary policies are made and carried out.

C. people combine the effects of past policy changes on important economic variables with their own judgments about the future effects of current and future policy changes.

D. the government combines the effects of past policy changes on important economic variables with accepted views about the effects of current and future policy changes.