Congress just passed close to a $500 billion increase in government spending:    

C. How will this impact C, AD, Prices and inflation, output, and unemployment? Make sure to include an analysis using the intermediate run AD/AS model with both an intuitive and graphic analysis. (Assume that the AS supply curve is vertical like it is in the Classical Model).

MEMO TO STAFF

You attend Zoom meetings and hear background conversations about SeeMoji moving in the direction of the animation. Current designers are uneasy, fearing they might lose their jobs in the next few years. They are concerned with the hiring of animation specialists. Designers are training on the new equipment for two hours a day, but this will not give them a formal certification in animation.   Further, they feel slighted. They earn $40,000 a year—and they were the people who helped the company grow—but the new animation specialists are in great demand in the current job market, and they will be earning $80,000. Morale is dropping rapidly.

You receive an email from Patricia Baker, Ms. Boss's Administrative Assistant:

Ms. Boss needs you to write a memo to the graphic designers. She wants them to be reassured and needs them to keep up with current trends in emojis. Here is the information she wants included:    

• SeeMoji is expanding and does not plan to terminate any current employees.
• Graphic designers are already training online to master the new hardware and software the company has invested in, thus expanding their skill sets.
• The latest edition of Graphics Magazine, an industry publication, announced an explosion in animation; the publication predicts that within two years animation is expected to make current graphics obsolete.
• Online classes in animation are available at the Animation Skills Institute. Attending and passing the full eight classes will result in a certificate from the institute.
• SeeMoji will cover 80% of the tuition for current graphic designers who wish to attend, but attendance is optional and must be done on the employee’s own time. Tuition runs $800 per class.
• Greg Glass at [email protected] has information on class schedules and the forms for partial reimbursement.

Ms. Boss is concerned about the rumors she has been hearing around the office, so this needs to be sent to all graphic designers immediately. Use the "SeeMoji Document and Presentation Format Requirements" file (under the Your Hired! section in Moodle) and the file about memos. Make sure you include a subject line in your email that is specific enough and will get their attention. And remember that you should be putting information into your own words, not copying it directly from the list above.

Let me know if you have questions.

Lewis is a professional graphic artist with his own business in Sydney. He conducts his activities as a sole trader. He employs a receptionist by the name of Mary and an assistant named Jennifer, who is his mother. He received fees from many private clients during the year. Some clients paid in cash after the consultation and some paid later after receiving a bill in the mail. Lewis received the following amounts of cash during the year ended 30 June 2019:

• Total fees paid by clients immediately after a consultation                                 $300,000
• Total fees paid by clients later after receiving a bill                                              $80,000

As at 30 June 2018, Lewis had billed clients for $15,000 which were unpaid. As at 30 June 2019, he had clients with unpaid bills of $20,000.

During the year ended 30 June 2019, Lewis had the following expenses:

• Non-capital graphic design equipment (such as printer toner, paper etc)                             $16,000
• Computer acquired on 1 July 2018 used 80% for business                                                  $15,000
• Rental of the building for his business                                                                                    $60,000
• Tuition fees for his wife’s five-week course on watercolour painting                                     $20,000
• Travelling expenses to make visits to clients’ offices                                                            $25,000
• Speeding fine while travelling to see a client when he was running late                                      $900
• Graphic design conference in Berlin, Germany on the latest developments in graphic design $15,000

• Salary to Mary (his receptionist)                                                                                            $75,000
• Salary to Jennifer (his assistant)                                                                                          $105,000

A typical assistant doing Jennifer’s work would normally be paid a salary of $80,000.

During the year ended 30 June 2019 Lewis received the following amounts from his investments:

• Dividends franked to 50% paid by Watpac Limited                                                              $70,000
• Interest paid by a local Bank                                                                                                $23,000
• Proceeds from the sale of Dim Limited shares he purchased for $150,000 in 1984         $285,000

Lewis wants to use the diminishing value method of depreciation and all depreciable assets have an effective life of 4 years.

Required:

What is Lewis’s assessable income for the year ended 30 June 2019?

Walton Machine Shop is considering a three-year project to improve its production efficiency. Buying (plus shipping and installation) a new machine press for $400,000 is estimated to result in $195,000 in annual incremental revenue and $30,000 in annual incremental variable costs. The press falls in the MACRS three-year class (as per the following schedule), and it will have a salvage value at the end of the project of $65,000. The press also requires an initial investment in spare parts inventory of $18,000, along with an additional $3,000 in inventory for each succeeding year of the project. If the shop's tax rate is 35 percent and its discount rate is 9 percent, should the company buy and install the machine press? (Show all the work clearly including NCS, NWC, OCF and the annual cash flows in the Excel file for full or partial credit). Year MACRS Rate 1 33.33% 2 44.45% 3 14.81% 4 7.41%

1. On December 31, 2018, Far Niente Winery sold a wine press for $545,000; the wine press had originally cost $900,000. Cash was paid by the buyer of the press. Accumulated Depreciation on the press, updated to the date of disposal, was $450,000.

What is the effect of the sale on the balance sheet and income statement of Far Niente reported as of and for the year ended December 31, 2018?

2. Executives at WorldCom committed an $11 billion fraud by capitalizing costs that should have been expensed. This fraud had many effects on WorldCom's balance sheet. Which of the following does not describe one of the misstatements that resulted on the company's balance sheet?

3.Specialty Inc. converts an existing account receivable to a note receivable to allow an extended payment period. Specialty receives a $2,000, 3-month, 12% promissory note from its customer. What entry will Specialty make upon receipt of the note?

Disraeli Gears Inc. manufactures latke-shaped gears. The company is considering the purchase of a new machine press for $614,400. The press has a four-your life and is estimated to result in $204,800 in annual pretax cost savings. The press falls in the MACRS five-year class (MACRS Table), and it will have a salvage value at the end of the project of $89,600. The press also requires an initial investment of $25,600 in spare parts for inventory. An additional $3,840 in inventory will be required for each succeeding year of the project. All investments in inventory will be recovered at the end of the project.

If the shop's tax rate is 34 percent and its discount rate is 11 percent, what is the NPV for this project? (Do not round your intermediate calculations.) HINT: Calculate the depreciation for each year and use it to get the after tax-salvage value. Next, calculate OCF using the annual depreciation and then construct CFFA for each year. Now discount all cash flows to get the NPV.

Using Linux in VirtualBox

To display your system date:

1. Type date in the command line, and press Enter. What do you see?                                           

You might see the abbreviation EDT (Eastern Daylight Time) instead of EST (Eastern Standard Time), or another time zone abbreviation, such as MDT (Mountain Daylight Time) or CST (Central Standard Time). Notice also that UNIX/Linux uses a 24-hour clock.

2. Type Date in the command line, and press Enter. What error do you see?                                   

The system error message appears because you must enter the date command, like most Linux commands, in lower-case letters.

To display your system date in UTC:

1. Type date –u in the command line, and press Enter. What do you see?                                                                                       

Using the cal command

In this, you use the cal command to display the current calendar, a Julian date calendar, and the historical calendar for July 1776.

To use the cal command:

1. Type cal in the command line, and press Enter. What calendar do you see?                                                                                                                    
2. Type cal –j 2018 in the command line, and press Enter. What type of calendar appears?                                                                                     
3. To determine the day of the week when the Declaration of Independence was signed, type cal 7 1776 in the command line, and press Enter. Record the calendar you see:                                                                                                                         In this case, the month and year are the command arguments. On which day of the week did the Fourth of July fall?                       
4. If you type cal july 1776, what do you see?                                                       

Using the who command

The who command is valuable for determining who is currently logged in to a system. In this, you try out the who command using several options.

To use the who command to determine who is logged in to the system:

1. Type who in the command line, and press Enter.
2. You see a list showing user names, the terminals they are using, and the dates and the times they logged in. Record your observation:                                                                                
3. To display a line of column headings with the who command’s output, type who –H and press Enter.

In case any current users are logged in from a remote host, the COMMENT column shows the name of the host.

4. Idle time is the amount of time that has elapsed with no activity in a user’s session. Type who –u and press Enter to see each user’s idle time. Record your output:                                                                                                                                                                                         
5. If you want to use multiple options on the same command line, type them all after a single hyphen. For example, type who –uH and press Enter to see a list of users with idle times and column headings.
6. Type who –q and press Enter to see a quick list of current users. Do you see only login names and the total number of users on the system?                                                                                  
7. To determine which terminal you are using or what time you logged in, type who am i in the command line, and press Enter. What do you see? (Another option is to type whoami as one word, which only displays your account name or user ID, in case you are not certain which account you are currently using; this option is often used by system administrator. Also try entering who mom likes to see what you find out.)