b) Clara, age 72 and single, is claimed as a dependent on her son’s tax return. During 2017, she had dividend income of $2,500 and $1,900 of earned income from housecleaning. What is her taxable income?

c) Cecil incurred $60,000 of interest expense related to his investments in 2017. His investment income included $30,800 of interest and a $24,200 net long term capital gain on the sale of securities. Cecil has asked you to compute the amount of his deduction for investment interest, taking into consideration any options he might have. What is the maximum amount of Cecil’s investment interest deduction in 2017?

Read the issue brief from the Robert Wood Johnson Foundation entitled “Education Matters for Health” 2009

There appears to be a dose-response relationship between educational attainment and health—the more you get, the better it is. Why this is true is not clearly understood, though several reasonable hypotheses have been proposed. Describe the 3 interrelated pathways presented as explanations for this relationship in this brief. Which do you feel is the strongest? Why? According to data presented in the brief, “the United States is the only industrialized nation where young people currently are less likely than members of their parents’ generation to be high-school graduates.” What evidence is given to support this statement? Why do you think this situation exists? What will it take to correct it? As would be expected, parents’ educational attainment is linked to their children’s health and even their educational attainment. These linkages, in turn, influence the health and educational attainment of their children’s children, as well, perpetuating an endless intergenerational cycle of high (or low) educational attainment and its associated better (or poorer) health. How does this fit with the biblical understanding of multigenerational influence (Exodus 34:6–7)? In what ways can the Church help interrupt the vicious cycle beginning with low educational attainment? Pray that God will use you to be a positive influence on your children in this area or on others whom God will bring across your path.

The Hamptons Home of a Famed Socialite Hits the Market “Before there was Paris Hilton, there was Consuelo Vanderbilt Balsan – a Gilded Age heiress and socialite, renowned for her beauty and wealth. Ms. Balsan’s onetime Hamptons home was slated to hit the market priced at $38 million with Tim Davis of the Corcoran Group. Located on Ox Pasture Road in Southampton, the shingle-style home was built around 1910 and is known as “Gardenside” or “Cara-Mia”. Ms. Balsan, the great-granddaughter of railroad magnate Cornelius Vanderbilt, owned the house until her death in 1954.

According to public records, the estate is owned by Robert G. Goldstein, executive vice president and president of global gaming operations at Las Vegas Sands Corp, and his wife Sheryl, who purchased the house in 2002 for $17.4 million.” (The Wall Street Journal, August 1, 2014, M2) In your initial response to the topic, you have to answer all the questions. You are expected to make your own contribution in the main topic as well as respond with value-added comments to at least two of your classmates as well as to your instructor. Calculate the annual compound growth rate of the house price during the period when the house was owned by Robert G. Goldstein (since 2002). (Round the number of years to the whole number). Please show your work. Assume that the growth rate you calculated in question #1 remains the same for the next 30 years. Calculate the price of the house in 30 years after it was sold by Robert G. Goldstein. Please show your work.

The home originally sold for $38mil.

Assume that the growth rate you calculated in question #1 remains the same since the house was sold. Calculate the price of the house today. (Round the number of years to the whole number). Please show your work.

Assume the growth rate that you calculated in #1 prevailed since 1910. Calculate the price of the house in 1910. Please show your work. Assume the growth rate that you calculated in #1 prevailed since 1910. Calculate the price of the house in 1954.

Please show your work. You were using the time value of money concept to answer question #5. Think about the timeline for that problem.

What is the time point 0 in that problem? Please explain your answer. Reflection – the students also should include a paragraph in the initial response in their own words reflecting on specifically what they learned from the assignment and how they think they could apply what they learned in the workplace.

James, a resident of UK has sold and gifted the following assets during the tax year 2019/20: a) Sale of Main Residence: James purchased a house (main Residence) on 1 January 2002 for £40,000 and sold it on 31 December 2019 to his brother for £100,000, after completing the ownership of 216 months. The market value of the residence on the date of sale was £300,000. James purchased the house on 1/1/2002 and stayed in it till 31/12/2003 (24 months) and went abroad for employment purposes for another 60 months till 31/12/2008. While coming back to UK, he went to his Aunty’s house and stayed there for 12 months till 31/12/2009. Then he came back to house and stayed for 36 months till 31/12/2012. Then he left his house for employment purposes within UK for 84 months till 31/12/2019 and sold his house without visiting his house before the sale. b) Sale of Painting: James sold a painting which he purchased in 2016 for £8,000. He sold the same on 2 January 2020 for £3000 and at the time of sale he incurred selling expense of 10%. c) James sold his jewellery on 10 January 2020 for £8,000, the cost of it was £5,000 in 2015. d) Sale of Factory: James has been doing business from so many years, on 15 February 2020, he sold his factory for £120,000, which he used 75% for business purposes. The cost of the factory was £50,000. Immediately, he reinvested £140,000 in new factory, which he will use fully for business purposes. e) Gift of Shares: on 1 July 2019, James sold 1000 shares of Angle Ltd, an unquoted company to his brother for £25,000. The market value on the date of gift was £50,000. James has purchased the shares on 23 April 2013 for £19,000. f) The brought forward capital loss is £10,000, which is still to be adjusted.

You are required to: (i) Calculate Capital Gain for each of the above sale. Show the working and notes clearly. (ii) Calculate the Taxable Gain and Capital Gain Tax of James for the tax year 2019/20, after claiming available Relief wherever applicable. State the due date for payment of Capital Gain Tax for the tax year 2019/20. Assume that James has taxable income of 40,000 for the tax year 2019/20. Show all workings clearly. (Total 20 Marks)

“Before there was Paris Hilton, there was Consuelo Vanderbilt Balsan – a Gilded Age heiress and socialite, renowned for her beauty and wealth. Ms. Balsan’s onetime Hamptons home was slated to hit the market priced at $28 million with Tim Davis of the Corcoran Group. Located on Ox Pasture Road in Southampton, the shingle-style home was built around 1910 and is known as “Gardenside” or “Cara-Mia”. Ms. Balsan, the great-granddaughter of railroad magnate Cornelius Vanderbilt, owned the house until her death in 1954. According to public records, the estate is owned by Robert G. Goldstein, executive vice president and president of global gaming operations at Las Vegas Sands Corp, and his wife Sheryl, who purchased the house in 2002 for $17.4 million.” (The Wall Street Journal, August 1, 2014, M2) In your initial response to the topic you have to answer all questions. You are expected to make your own contribution in a main topic as well as respond with value added comments to at least two of your classmates as well as to your instructor.

1.Calculate the annual compound growth rate of the house price during the period when the house was owned by Robert G. Goldstein (since 2002). (Round the number of years to the whole number). Please show your work.

2.Assume that the growth rate you calculated in question #1 remains the same for the next 30 years. Calculate the price of the house in 30 years after it was sold by Robert G. Goldstein. Please show your work.

3.Assume that the growth rate you calculated in question #1 remains the same since the house was sold. Calculate the price of the house today. (Round the number of years to the whole number). Please show your work.

4.Assume the growth rate that you calculated in #1 prevailed since 1910. Calculate the price of the house in 1910. Please show your work.

5.Assume the growth rate that you calculated in #1 prevailed since 1910. Calculate the price of the house in 1954. Please show your work.

6.You were using the time value of money concept to answer question #5. Think about the time line for that problem. What is the time point 0 in that problem? Please explain your answer.

7. Reflection – the students also should include a paragraph in the initial response in their own words reflecting on specifically what they learned from the assignment and how they think they could apply what they learned in the workplace.

1.) Can you identify at least 6 holiday periods or special events that cause the spikes in the data?

a.) In each case give the week number, date, and what holiday or special event it represents

b.) Which holiday results in the maximum sales for this department and how much are the sales?

2.) Generate three linear models for this data. Each linear model should be generated from a pair of data points.

a.) For each linear model, find the equation of the line. Show your work. Write the equation in slope intercept form.

b.) For each linear model discuss the meaning of the slope and y-intercept. Also provide an analysis as to why you like or dislike that particular model

c.) Discuss the rationale behind the model that you believe best predicts future results.

3.) Predict and analyze sales for the next four weeks

a.) Using your most preferred linear model, predict sales for the next four weeks and show calculations

b.) Based on your preferred linear model, compute the percent rate of increase (y2-y1)/y1 for the next four weeks

4.) If you were a manager of this department store, what recommendation would you make to the person in charge of inventory?

Consider the following database schema for a BOOKSTORE database:

• Books (bookid, title, author, year)
• Customers (customerid, name, email)
• Purchases (customerid, bookid, year)
• Reviews (customerid, bookid, rating)
• Pricing (bookid, format, price)

The Books relation stores information about books sold by the bookstore. Note that bookid is the primary key. An example tuple is as follows:

(105, 'JAVA PROGRAMMING', 'JOHN DOE', 2001)

The Customers relation stores information about the customers of the bookstore. Note that customerid is the primary key. An example tuple is as follows:

(210, 'JOHN SMITH', '[email protected]')

The Purchases relation stores information about the customer purchases of books. Note that customerid and bookid form the primary key. An example tuple is as follows:

(210, 105, 2002), indicating that 'JOHN SMITH' with customerid 210 purchased the 'JAVA PROGRAMMING' book with bookid 105 in the year 2002.

The Reviews relation stores information about the customer reviews/ratings of the books. The ratings field refers to the number of "stars" given to the book. Note that customerid and bookid form the primary key. An example tuple is as follows:

(210, 105, 3), indicating that 'JOHN SMITH' with customerid 210 gave a 3-star rating to the 'JAVA PROGRAMMING' book with bookid 105.

The Pricing relation stores information about the price of the various books sold by the bookstore. Note that the same book can be available in multiple formats at possibly different prices. The price field refers to the number of dollars. For instance a $25 purchase will have a price field of 25. Note that the bookid and format fields form the primary key for the relation. An example tuple is as follows:

(105, 'AUDIO', 25), indicating that the 'JAVA PROGRAMMING' book with bookid 105 is available in the audio format for $25.

Given the above schema, write queries for the following:

1. Find books (show their titles) written by 'EDMUND MORGAN' since year 1990.
2. Find books (show their titles, authors and prices) that are on 'CIVIL WAR' (i.e., the title field contains 'CIVIL WAR'), available in 'AUDIO' format.
3. For each year, 'JOHN CHAMBERS' purchased at least one book, find the number of books purchased. That is, the output should be a set of tuples, each indicating a year and the number of books purchased by 'JOHN CHAMBERS' in that year.
4. Find customers (show their names and email addresses) who purchased more than one book in year 2003.
5. Find the ratings information (show titles, authors and average ratings) for books on 'CIVIL WAR' (i.e., title contains 'CIVIL WAR').

MARS, Inc. (D)¹

In January 2009, Tom Sosa, the purchasing manager, received a telephone call from their Columbus, Indiana, diesel engine supplier informing him that effective June they were no longer producing the D-342 diesel engines at the Columbus plant. The D-342 engine sales were decreasing and would no longer be in their product line. Tom was in shock. He was now forced to deal with the sole supplier of the D-342 located in Portland, Oregon. The most recent price schedule submitted by the Oregon engine supplier is given below:

The prices had been basically the same as the Columbus supplier except that they are F.O.B. Portland. The traffic department informed Tom that the transportation cost per hundredweight is $10 for carload lots of 50,000 pounds. The less than carload rate is $15 per hundredweight. The replenishment cycle normally takes one week.

BACKGROUND

Tom Sosa, the supply manager for MARS, Inc. was contemplating several significant changes in the D-342 diesel engine market. Mr. Sosa was concerned because in its production of the 98-D loader, MARS used 10 diesel engines each working day of the month. (MARS operated on a 20-day-per-month schedule.) Each engine weighs 500 pounds. Engine orders are currently placed every Monday morning. For the past 10 years, the D-342 engines had been produced in only two locations in the United States, one in Columbus, Indiana, and the other in Portland, Oregon. Mr. Sosa felt fortunate that the Columbus producer was located approximately 30 miles from his facility. The Columbus supplier offered just-in-time delivery service at no charge to MARS.

MARS implemented lean manufacturing in 2002. The kanban-controlled JIT production system was implemented based on the premise of minimizing work-in-process inventories (waste) by reducing lot sizes in order to increase production efficiency and product quality.

ACTION TAKEN BY TOM

Mr. Sosa compiled cost and warehouse capacity data on the D-342 engine from the accounting department. See Table C17.1.

Mr. Sosa wonders what effects these new developments will have on his cost structure.

Assignment Questions

  1.  What were MARS’s total costs per year prior to the new price structure when the diesel engine price was $4,800? Was MARS using the EOQ method?

TABLE C17.1
Cost and Warehouse Capacity

*There is existing space in the warehouse for 200 units. Additional space must be leased for a year. If an order is more than 200 units, part of the order must be stored in leased space.

  2.  With volume discounts and warehouse constraints, what is the best ordering quantity?

  3.  With purchase discounts and different rates, how are costs and EOQs affected?

  4.  How will these changes impact the lean manufacturing philosophy at MARS?

  5.  Determine the cost impact of using the Portland supplier. How will the change in supplier for the D-342 diesel engine affect sales for the 98-D loader?