In 2020, Tom and Amanda Jackson (married filing jointly) have $300,000 of taxable income before considering the following events:

(Use the dividends and capital gains tax rates and tax rate schedules.)

On May 12, 2020, they sold a painting (art) for $122,500 that was inherited from Grandma on July 23, 2018. The fair market value on the date of Grandma’s death was $96,250 and Grandma’s adjusted basis of the painting was $27,500. They applied a long-term capital loss carryover from 2019 of $11,250. They recognized a $12,625 loss on the 11/1/2020 sale of bonds (acquired on 5/12/2010). They recognized a $4,750 gain on the 12/12/2020 sale of IBM stock (acquired on 2/5/2020). They recognized a $20,000 gain on the 10/17/2020 sale of rental property (the only §1231 transaction), of which $10,000 is reportable as gain subject to the 25 percent maximum rate and the remaining $10,000 is subject to the 0/15/20 percent maximum rates (the property was acquired on 8/2/2014). They recognized a $13,250 loss on the 12/20/2020 sale of bonds (acquired on 1/18/2020). They recognized a $7,625 gain on the 6/27/2020 sale of BH stock (acquired on 7/30/2011). They recognized an $12,250 loss on the 6/13/2020 sale of QuikCo stock (acquired on 3/20/2013). They received $1,000 of qualified dividends on 7/15/2020. After completing the required capital gains netting procedures, what will be the Jacksons’ 2020 tax liability? (Do not round intermediate calculations.)

In 2020, Tom and Amanda Jackson (married filing jointly) have $228,000 of taxable income before considering the following events: (Use the dividends and capital gains tax rates and tax rate schedules.)

1. On May 12, 2020, they sold a painting (art) for $113,500 that was inherited from Grandma on July 23, 2018. The fair market value on the date of Grandma’s death was $91,750 and Grandma’s adjusted basis of the painting was $25,700.
2. They applied a long-term capital loss carryover from 2019 of $10,350.
3. They recognized a $12,175 loss on the 11/1/2020 sale of bonds (acquired on 5/12/2010).
4. They recognized a $4,210 gain on the 12/12/2020 sale of IBM stock (acquired on 2/5/2020).
5. They recognized a $17,840 gain on the 10/17/2020 sale of rental property (the only §1231 transaction), of which $8,560 is reportable as gain subject to the 25 percent maximum rate and the remaining $9,280 is subject to the 0/15/20 percent maximum rates (the property was acquired on 8/2/2014).
6. They recognized a $12,350 loss on the 12/20/2020 sale of bonds (acquired on 1/18/2020).
7. They recognized a $7,175 gain on the 6/27/2020 sale of BH stock (acquired on 7/30/2011).
8. They recognized an $11,350 loss on the 6/13/2020 sale of QuikCo stock (acquired on 3/20/2013).
9. They received $640 of qualified dividends on 7/15/2020.
   
   After completing the required capital gains netting procedures, what will be the Jacksons’ 2020 tax liability? (Do not round intermediate calculations.)

1. Derby Phones is considering the introduction of a new model of headphones with the following price and cost characteristics:

Assume that the projected number of units sold for the month is 6,000. Consider requirements (b), (c), and (d) independently of each other.

Required:

a. What will the operating profit be?

b. What is the impact on operating profit if the sales price decreases by 10 percent? Increases by 20 percent? (Do not round intermediate calculations.)

c. What is the impact on operating profit if variable costs per unit decrease by 10 percent? Increase by 20 percent? (Do not round intermediate calculations.)

d. Suppose that fixed costs for the year are 10 percent lower than projected, and variable costs per unit are 10 percent higher than projected. What impact will these cost changes have on operating profit for the year? Will profit go up? Down? By how much? (Do not round intermediate calculations.)

2. On-the-Go, Inc., produces two models of traveling cases for laptop computers: the Programmer and the Executive. The bags have the following characteristics:

The total fixed costs per year for the company are $667,000.

Required:

a. What is the anticipated level of profits for the expected sales volumes?

b. Assuming that the product mix is the same at the break-even point, compute the break-even point. (Round your final answer up to the nearest whole unit.)

c. If the product sales mix were to change to nine Programmer-style bags for each Executive-style bag, what would be the new break-even volume for On-the-Go? (Round your final answer up to the nearest whole unit.)

In some of the recent corporate scandals, senior executives “doctored the books” and misrepresented the corporate financial status of the company. In others, transactions were created to and from inert or false companies to enhance the bottom line. All of these actions required some intervention and dependence on current or new IT systems. As a result the Federal Government passed the SOX regulations in 2002-2003 and the Dodd-Frank Financial Reform law in 2010.

Do you feel the information technology group could or should identify (expose) these fraudulant practices?

What do you feel the responsibilities of the CIO are relative to internal fraud and illegal activities?

Is the CIO ethically responsible for how the network and computing “utility” within the company is used?

Is it an IT responsibility to build and install systems that cannot be compromised?

Does the information technology have the responsibility to ask “why” a business function is needed when a system is built?

Does the internal or external audit function have any responsibility in guiding the development of new Information Technology systems? Explain.

Choose one existing incumbent that is being beaten by a challenger in business. In other words, identify and choose one incumbent that is struggling to survive in the market. Conduct a thorough analysis of the current conditions of this incumbent by referring to following relevant strategic analysis frameworks:

1. Porter’s Five Forces Model (refer to lecture 7) a. Degree of existing rivalry b. Threat of potential entrants c. Bargaining power of suppliers d. Bargaining powers of buyers e. Threat of substitutes

2. Stakeholders analysis (refer to lecture 7) a. Strategic stakeholder analysis b. Normative stakeholder analysis

3. Porter’s Value Chain Model (refer to lecture 7) a. Primary activities b. Support activities

4. PESTEL (Political, Economic, Social, Technological, Environmental, Legal),

5. SWOT (Strength, Weaknesses, Opportunities and Threats)

6. Technology cycle (refer to lecture 4) a. Era of ferment b. Era of incremental change

7. The Utterback and Abernathy Model or 3 Phases of innovation model (refer to lecture 4) a. Fluid Phase b. Transitional Phase c. Specific Phase

8. The McKinsey 7-S Model a. Hard elements (Strategy, Structure, System) b. Soft element (Shared Values, Skills, Style and Staff) .

Use at least 4 strategic analysis frameworks, identify and evaluate the current position of the incumbent and synthesize the findings. The first one (Porter’s Five Forces Model) is compulsory. In technology cycle and 3 phases of Innovation model, explain at which phase does the current position of the incumbent of our choice fall on. After assessing the incumbent’s current position, provide a detailed solution for this incumbent to re-emerge in the market. The solution has to be linked to innovation and new disruptive technologies. This will help to explain about the firm’s strategic intent. This solution should help to identify and explain the resources and capabilities required by the incumbent that helps to close the gap between its current position and its strategic intent. As part of the assessment, create a mind map to show the possible solutions.

hey there. can you write around 2000 words ( if possible plag free). that would be much appreciated.

Make the following journal entries in good form.

1. On January 1, 2020, Entity A sold common stock for $30,000 to investors.

2. On January 3, 2020, Entity A performed services for Entity B for $1,500 on account.

3. On January 5, 2020, Entity A performed services for Entity C for $750 and Entity C paid.

4. On January 7, 2020, Entity A purchased a new computer (office equipment) from Best Buy for $500, paying $100 down, the rest on account.

1. What type of Covid event affected the number of firms in an industry? How many firms closed due to the supply curve shift change caused by this COVID event? Predict the new equilibrium price and quantity.

2. What type of Covid event affected technology supply shift? Why? Analyze the event using a graph and predict what will happen to price and quantity at the new equilibrium. The initial equilibrium would be pre-Covid.

Calculate Payroll

Breakin Away Company has three employees—a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee:

For the current pay period, the computer programmer worked 50 hours and the administrator worked 48 hours. The federal income tax withheld for all three employees, who are single, can be determined from the wage bracket withholding table in Exhibit 2. Assume further that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and one withholding allowance is $75.

Determine the gross pay and the net pay for each of the three employees for the current pay period. If required, round your answers to two decimal places.