A company has a beginning inventory of $ 20,000 and purchases during the year of $ 160,000. The beginning inventory consisted of 2,000units and 8,000 units were purchased during the year. 3,880 units remain in ending inventory. The cost of the ending inventory using the​ average-cost method will​ be: (Round any intermediary calculations to two decimal places and your final answer to the nearest​ dollar.)

1) Answer T or F for the following

a) Medical expenses for the year are to be reduced by any insurance reimbursement that is expected to be received in the future in order to arrive at the current deduction.

b) The full-cost of home-related capital expenditures paid to enable a physically disabled individual to live independently qualifies as a medical expense, but is still subject to the 10% of AGI floor limitation.

c) Appraisal costs associated with determining the increase in value of a residence due to capital expenditures undertaken for medical reasons are deductible as a medical expense.

d) If the seller of a residence during the year pays more than her prorate share of the real estate taxes, the buyer must increase his basis in the home by the "excess".

e) When arriving at the taxpayer's net investment income in calculating the deduction for investment interest expense for the year, miscellaneous "investment expenses" are disallowed before any non-investment expenses when applying the 2% of AGI floor.

f) points paid to refinance an existing home mortgage are fully deductible in the year of payment.

g) A taxpayer who gives cash directly to a needy individual will be able to claim a charitable contribution, subject to AGI limits.

h) No deduction is allowed for the value of one's services contributed to a charity.

A stock sells today for $130. The price of the stock in a year is expected to be $140. The annual volatility of the stock is 30%.
a. Calculate the probability that in six years the stock will sell for more than $150.
b. Calculate the probability that in six years the stock will sell for less than $115.
c. Calculate the probability that in six years the stock will sell for a price between $120 and $160.
d. You are 85% confident the stock price in six years will be between what two values?
e. There is an 80% probability that in 6 years the stock price will exceed ___________

Reasonable and necessary business expenditures that are not completely deductible in the year incurred will be (1) depreciated, (2) amortized, or (3) capitalized. Briefly define and provide an example of an expenditure to each.

Find a story in the USA news in the past year that was partially or fully retracted or corrected after it was discovered that the field research was not done properly. Explain what was done incorrectly that led to the error, and what steps should have been taken in order to avoid the issue. Be sure to include the news story in your submission.

#21) Troy will receive $7,500 at the end of year 3. At the end of the following two years, he will receive $9,000 and $12,500, respectively. What is the future value of these cash flows at the end of year 5 if the interest rate is 8 percent? $33,445

$35,622

$30,968

$35,255

$28,738

#39)  Cast Out Co. invested $37,900 in a project. At the end of three years, the company sold the project for $62,500. What annual rate of return did the firm earn on this project?

16.91%

18.14%

17.47%

18.67%

19.20%

#38) You are considering a job that offers a starting bonus of $2,500, paid immediately, and an annual salary of $44,000, $47,000, and $50,000 for the next 3 years, respectively. The annual salary is paid at the end of each year. What is this offer worth today at a discount rate of 5.6 percent?

$139,283.56

$158,283.49

$128,773.82

$154,383.50

$142,983.33

A machine was purchased and installed in the beginning of year 2019. The estimated cost in the period stated dollars is below. The costs are in current period dollars at the end of the year. For example, 2020 cost is reported in end of year 2020 dollars. An inflation rate applicable to years 2020 and higher of 2.85% was used in the estimation process. What is the machine's Present Worth of costs including purchase amount in 2019 dollars using a real MARR of 9.5%? NOTE: 2019 dollars are the same at beginning for purchase and end of 2019. Cost inflation begins in 2020.

Clearly label your answer

Consider a mutual fund with $218 million in assets at the start of the year and with 10 million shares outstanding. The fund invests in a portfolio of stocks that provides dividend income at the end of the year of $4 million. The stocks included in the fund's portfolio increase in price by 8%, but no securities are sold, and there are no capital gains distributions. The fund charges 12b-1 fees of 1.00%, which are deducted from portfolio assets at year-end.

a. What is net asset value at the start and end of the year? (Enter your answers in dollars rounded to 3 decimal places.)

b. What is the rate of return for an investor in the fund? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Rate of return             %

Since the SUTA rates changes are made at the end of each year and there is much discussion about changes to the FUTA rate, the available 2018 rates were used for FUTA and SUTA.

Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers.

Example 5-5

Sutcliffe Company had taxable wages totaling $87,500 in 2019. During the year, the company paid some of its state contributions after the January 31, 2020, cutoff. The penalty for tardiness is shown in the following calculation of the firm's net FUTA tax for 2019:

Example 5-6

Yeldon Company has a $70,000 federal and state taxable payroll and has earned a reduced state tax rate of 4 percent. If none of its state tax payments are timely, the FUTA tax calculation is as follows:

If Yeldon Company had made its SUTA payments before the due date of Form 940, the credit for the payments (4%) and the additional credit (1.4%) would have provided a total credit of $3,780 and a FUTA tax savings of $280.

Roofling Company paid wages of $319,600 this year. Of this amount, $193,900 was taxable for net FUTA and SUTA purposes. The state's contribution tax rate is 4.3% for Roofling Company. Due to cash flow problems, the company did not make any SUTA payments until after the Form 940 filing date. Compute the following; round your answers to the nearest cent.

a. Amount of credit the company would receive against the FUTA tax for its SUTA contributions
$

b. Amount that Roofling Company would pay to the federal government for its FUTA tax
$

c. Amount that the company lost because of its late payments
$