Gabriela and Johnny are married and filed a joint tax return. They had the following items for 2018:

Gabriela's car was completely destroyed in a hurricane, which had been declared a federal disaster area. At the time of the hurricane, the car had a fair market value of $30,000 and an adjusted basis of $40,000. She used the car 100% of the time for personal use. She received an insurance recovery of $25,000.

1. Provide a detailed calculation of the couple's AGI.

Your Answer must:

(a) explain the rule for § 1244 small business stock and how it applies to the facts;

(b) show a detailed netting capital item;

(c) explains the rule for worthless stock;

(d) explains the rule for the tax treatment of nonbusiness bad debts.

2.(a) What is the rule for calculating the amount of the casualty loss?

(b) Apply the rule to the facts and show a detailed calculation of the loss.

(c) Which schedule does the casualty loss total appear on?

Traynor Corporation reports its 40 percent investment in Victor Company on its December 31, 2020 balance sheet at $14,608,000. Traynor acquired its interest in Victor on January 2, 2018 and uses the equity method to account for the investment. Victor’s assets and liabilities were fairly stated on January 2, 2018 except for unreported technology (5-year life) of $4 million. Victor reported net income of $1.2 million, $1.5 million, and $1.4 million, and paid dividends of $200,000, $250,000, and $230,000 in 2018, 2019, and 2020, respectively. There was no impairment of Traynor’s investment. Required How much did Traynor Corporation pay for its investment in Victor Company on January 2, 2018?

Q. The higher education department of Holmes Institute recorded data on the number of students enrolled in the different study majors for the years 2018 and 2019. The data are stored in file STUDYMAJOR.xls. (given below)

a) Use an appropriate graphical technique or chart to compare the number of enrolment in 2018 and 2019 of the different study major. Display the chart.

b) Use an appropriate graphical technique or chart to display the percentage value of the number of enrolment of the different study major in 2018 and 2019. Display the chart.

IST analyzes the fish population of coastal alaska waters. each year they sample 100 fish and measure their weight. the table shows the mean fish weights for 2016, 2017, 2018. Assume a population standard deviation of 5lb. alpha = .05

Year. Mean salmon weight lb

2016: 18

2017: 19

2018: 23

A.) is the increase from 2016 to 2017 statistically significant. state test statistic and p-value, then answer the question.

B) is the increase from 2017 to 2018 statistically significant. state test statistic and p-value, then answer the question.

C) is the increase from 2016 to 2018 statistically significant. state test statistic and p value, then answer the question.

On 11/1/2017, a company forecasted the sales of inventory to foreign customer for 800,000 FCU. It was estimated that the inventory would be delivered and paid on 3/20/2018. Also, on 11/1/2017 , the company purchased a put option to sell 800,000 FCU at a strike price of $0.842 expiring end of 2018. An option premium of $5,000 was paid.

Required: Prepare the journal entries required on the dates listed:

1. Assuming that on 3/20/2018 the option was exercised, and the inventory delivered and paid

2. Assuming that the spot rate on 3/20/2018 is $0.845?

1.​Winthrop Dairy Farms Ltd. is an Ontario corporation. The farm owns dairy cows that produce milk.

​a) Describe the accounting treatment and measurement value of the dairy cows assuming the farm uses IFRS.​

​b) Describe the accounting treatment and measurement value of the milk assuming the farm uses IFRS.​

c) Assume the farm uses IFRS and the fair value of a dairy cow increased from the 2017 year-end to the 2018 year-end. How would you record this increase in 2018?​

​d) Assume the farm uses ASPE and the fair value of a cow increased from the 2017 year-end to the 2018 year-end.   How would you record this increase in 2018

1. Zella Co. uses a job-costing system with two direct-cost categories (direct materials and direct manufacturing labor) and one manufacturing overhead cost pool. Zella allocates manufacturing overhead costs using direct manufacturing labor costs. Zella provides the following information:

1. Compute the actual and budgeted manufacturing overhead rates for 2018. (1pt)
2. At the end of 2018, compute the under- or overallocated manufacturing overhead under normal costing. Prepare a journal entry to dispose of this amount. (1pt)

solve it in Microsoft word please

Horngren financial and managerial accounting 6th edition

Chapter 12, question 37

P12AB-37A

Brad Nelson Inc. issued $600,000 of 7% six year bonds payable on January 1, 2018. The market interest rate at date of issuance was 6% and the bonds pay interest semiannually.

a. How much cash did the company receive upon issuance of bonds payable.

b. Prepare amortization table for the bond using the effective interest method, through the first two interest payments.

c. journalize the issuance of the bonds on January 1, 2018 and the first and second payments of the semiannual interest amount and amortization of the bonds on June 30, 2018 and December 20, 2018. No explanations required.

10- Please provide examples

Niles and Marsha adopted an infant boy (a U.S. citizen). They paid $18,750 in 2017 for adoption-related expenses. The adoption was finalized in early 2018. Marsha received $3,850 of employer-provided adoption benefits. For question (a), assume that any adoption credit is not limited by modified AGI or by the amount of tax liability.

1. What amount of adoption credit, if any, can Niles and Marsha take in 2018?
2. Using the information in question (a), assume that their modified AGI was $240,000 in 2018. What amount of adoption credit is allowed in 2018? (Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount.)