Summarize and compare the regulatory efforts of The Sarbanes-Oxley Act of 2002

You and your spouse are in good health and have reasonably secure jobs. Each of you makes about $33,000 annually. You own a home with a mortgage of $90,000, and you owe $18,100 on car loans, $7,800 in personal debt, and $3,800 in credit card loans. You have no other debt. You have no plans to increase the size of your family in the near future. You estimate that funeral expenses will be $8,500. Estimate your total insurance needs using the DINK method.

Total insurance need:

Describe the impact that the Protestant Reformation had on the monopoly of power and influence of the Catholic church. What critical role did the recent invention of the movable printing press have on Martin Luther’s “accidental” revolution?

Tom Hruise was an entertainment executive who had a fatal accident on a film set. Tom’s will directed his executor to distribute his cash and stock to his wife, Kaffie, the real estate to his church, The First Church of Methodology, and the remainder of his assets were to be placed in trust for his three children. Tom’s estate consisted of the following: (Enter your answers in dollars, not millions of dollars.)

a. Tom made a taxable gift of $8 million in 2011. Compute the estate tax for Tom’s estate.

Firstly, describe how the Catholic Church understands lay vocations.

Secondly, reflect on the following prompt: The contemporary age focuses much on choosing one’s ‘career’. This is quite different from the idea of ‘vocation’, which involves a relationship with the world around the person, indeed even one’s relationship with truth itself. The Catholic Church emphasizes vocation in part because it asks the person to consider what gifts he/she has that could be used to build up the community and to respond to the call of the Creator. It involves great introspection and honesty regarding strengths and weaknesses. It involves the examination of conscience and an assessment of the world around.

Do you think primarily of career, or vocation, and why? Has this chapter changed anything for you?

The balance sheet of Flexor Company at December 31, 2004 showed the following: Cash, $4,200; Accounts Recievable, $10,300; Notes Recievable (Long Term), $23,000; Merchandise Inventory, $55,500; Prepaid insurance, $1,200; Notes Payable (short term), $20,000; Accounts Payable, $25,200; Current Portion of Long Term Debt, $8,000; Mortgage Payable, $80,200

How much was the working capital at December 31, 2004?

On October 17, 2007, the classified ads on the web site of The Seattle Times listed the following 13 used Toyota Prius automobiles for sale; the data set below shows the year, color, mileage (in miles) and asking price (in U.S. dollars) for each car:

year     color      mileage     price
2006     green        17043     25995
2007     gray         12628     24980
2005     maroon       24039     24885
2005     silver       48226     23995
2006     black        10522     22995
2004     silver       66345     21995
2007     white         5611     21995
2005     gold         24479     21595
2004     white        14618     20995
2005     silver       53699     20980
2004     silver       47649     17995
2003     white        39600     17500
2005     black       103126     16995

1. compute the correlation between mileage and price:

Packard Company began operations on 1/1/04. For its second year of operations, 2005, it has the following activity:

In addition to the foregoing, Packard received $25,000 of rents in 2005 of which $15,000 remained unearned as of December 31, 2005. It is anticipated that the remaining amount will be earned in 2006.

The enacted tax rate for 2004 is 40%, and 30% for 2005. For 2006 and all future years, it is 35%. Management has also determined that it is probable that 20 percent of all deferred tax assets will not be realized in the foreseeable future. As of December 31, 2004, there was a temporary difference in depreciation that resulted in future taxable amounts of $23,000. This temporary difference will reverse in 2005. (Note: As of 12/31/2004, the 40% enacted tax rate was the only tax rate that was enacted. The 30% rate and 35% rates were not enacted until after 12/31/2004).

Based on the foregoing, what is the net income of Packard for the year ended December 31, 2005?

A university proposed a parking fee increase. The university administration recommended gradually increasing the daily parking fee on this campus from $6.00 in the year 2004, by an increase of 8% every year after that. Call this plan A. Several other plans were also proposed; one of them, plan B, recommended that every year after 2004 the rate be increased by 60 cents.

a. Let t=0 for year 2004 and fill in the chart for parking fees under plans A and B.

Round your answers for the values under Plan A to two decimal places, and enter the exact answers for the values under Plan B.

b. Write an equation for parking fees FA as a function of t (years since 2004) for plan A and an equation FB for plan B.

Enter the exact answers.

FA=

Edit

FB=

Edit

c. What will the daily parking fee be by the year 2025 under each plan?

Round your answer for the value under Plan A to two decimal places, and enter the exact answer for the value under Plan B.

Under plan A, the daily parking fee in the year 2025 with be $.

Under plan B, the daily parking fee in the year 2025 with be $.

d. Imagine that you are the student representative to the Board of Trustees. Which plan would you recommend for adoption?

For students,

Plan APlan B

is less expensive over the next  years, so it should be recommended.