Big Co. purchases shares of Little Co starting on 1/1/21. Little Co. has 100,000 shares of stock outstanding.

Relevant data shown below:

1/1/21: Purchased 5,000 shares at $18/share, plus $10 commission.

11/1/21: Little Co. paid common dividends totaling $10,000 12/31/21: Little Co. stock trading at $20/share

4/1/22: Purchased 6,000 shares at $21/share, plus $10 commission

11/1/22: Little Co. paid dividends totaling $10,000

12/31/22: Little Co stock trading at $19/share 3/1/23: Sold 1,000 shares of Little Co stock at $19.50/share, less $10 commission. Assume Big uses FIFO to account for their investment in these shares. Required: Prepare entries to record the preceding transactions, and answer the following questions.

Questions:

1. What is the total cost recorded as the "investment" on 1/1/21?

2. How much of an unrealized gain or loss is reported on the 2021 statement of comprehensive income ("xx,xxx gain" or "xx,xx loss")?

3. How much is received as dividends on 11/1/22?

4. What is the balance in the "investment in Little" account at 12/31/22?

5. What is our TOTAL unrealized gain or loss at 12/31/22? ("xx,xxx gain" or "xx,xxx loss")

6. How much of an unrealized gain or loss is reported on the 2022 statement of comprehensive income ("xx,xxx gain" or "xx,xxx loss")?

7. What was the gain or loss on sale of the shares on 3/1/23 ("xx,xxx gain" or "xx,xxx loss")?

Which of the following statements is true about the class system in the United States when compared to the British class system?

American Health Systems currently has 6,400,000 shares of stock outstanding and will report earnings of $10 million in the current year. The company is considering the issuance of 1,700,000 additional shares, which can only be issued at $18 per share.

a. Assume that American Health Systems can earn 6 percent on the proceeds. Calculate earnings per share. (Do not round intermediate calculations and round your answer to 2 decimal places.)

b. Should the new issue be undertaken based on earnings per share?

• Yes

• No

Please expand upon the arguments presented by William R. Jones, in "The Legitimacy and Necessity of Black Philosophy." In addition, please reference the Interview on William R. Jones by George Yancy as a way to further understand the need for an African American philosophy. Joyce Mitchell Cook was the first African American Women to receive a Ph.D. in Philosophy. What are her views of a BLACK philosophy and do you think her and William R. Jones would have agreed about there being a particular Black philosophy?. YOUR RESPONSE SHOULD BE IN 250 WORDS.

Donna donates stock in Chipper Corporation to the American Red Cross on September 10, 2019. She purchased the stock for $23,450 on December 28, 2018, and it had a fair market value of $33,500 when she made the donation.

a. What is Donna’s charitable contribution deduction?
The stock is treated as   property and Donna's charitable contribution deduction is $ for tax purposes.

b. Assume instead that the stock had a fair market value of $20,100 (rather than $33,500) when it was donated to the American Red Cross. What is Donna’s charitable contribution deduction?
$

Tax 2018. Amos is a self-employed tax attorney. He and Monica, his employee, attend a conference in Dallas sponsored by the American Institute of CPAs. The following expenses are incurred during the trip:

1. Amos pays for all of these expenses. Calculate the effect of these expenses on Amos’s AGI.
2. Would your answer to part (a) change if the American Bar Association had sponsored the conference? Explain.

True or False?

1. The demand for foreign goods implies supplying the domestic currency.

2. If a nation's currency rises in value, foreigners can purchase more of that nation's output.

3. The devaluation of one currency implies a revaluation of other currencies.

4. If the American dollar is devalued, American goods are more expensive to people holding dollars.

5. The International Monetary Fund may lend currency reserves to a nation with a deficit in its merchandise trade balance.

6. The political climate abroad will affect the risk associated with foreign investments.