Subject - Religion 1100-005

Describe in a religion of your choosing a bit about its historical origins and how, from those origins, information about ultimate being is revealed to that religion’s followers. Especially note a founder and weather this revealing U.B. is primarily a prophet, a sage or an incarnation. Given such descriptions, what does one learn about the religion’s Ultimate Being? Is it more relational, more mysterious, more transcendent or immanent? Generally, show how the kind of origins we find in the religion’s history is coherent with its concept of ultimate being. You may also argue that the religion’s origins are not very consistent with its Ultimate Being concept.

In 2019, NB Inc.’s federal taxable income was $246,000. Compute the required installment payments of 2020 tax in each of the following cases:

Required:

1. NB’s 2020 taxable income is $556,000.
2. NB’s 2020 taxable income is $837,000.
3. NB’s 2020 taxable income is $1,390,000.
   

Summarize this:

Biological, Chemical, & Other Non-Nuclear Threats

Biological, chemical and other non-nuclear threats, such as cyber and drone attacks, constitute a class of weapons that may not cause as much mass physical destruction as nuclear weapons can, but can result in significant mass effects on, and/or mass disruptions to, a targeted populace. Weapons experts still debate whether these non-nuclear weapons can truly be considered weapons of mass destruction; however, certain types of biological weapons, such as weaponized smallpox or anthrax, could in principle harm millions of people depending on the scenario and the extent of the population’s exposure to the biological weapons. Chemical weapons under almost all circumstances would not result in massive harm to millions of people. Nonetheless, from a cost perspective, chemical weapons and even biological weapons are considerably less expensive than nuclear weapons. Still, chemical and biological weapons could have similar deterrent effects as nuclear weapons. Thus, from the viewpoint of many nation-states, chemical and biological weapons are so-called poor man’s nuclear weapons.

The Challenges of Reducing and Detecting These Threats

Addressing these threats is difficult because the weapons can be manufactured in ways that use civilian technology and materials. Furthermore, manufacturing them does not typically require large observable infrastructures to be established, thus making it hard to detect their production. While chemical and biological weapons are banned internationally via the Chemical Weapons Convention and Biological and Toxin Weapons Convention with the vast majority of nations as adherents, the world has witnessed that certain states, for example, Syria still have chemical weapons as well as suspected biological weapons. As of late 2013 through early 2014, the Syrian government has promised to dismantle its chemical weapons program.

FAS has had a long history in bringing leading chemical and biological experts to analyze these threats, educate policymakers and the public, and make recommendations to reduce the risks. For instance, FAS in recent years has created the Virtual Biosecurity Center (VBC) to provide a platform for education. FAS has also convened legal, scientific, and political experts in workshops such as a January 2014 workshop on bio-forensics to examine state-level options for response to biological threats or attacks. FAS seeks to further this work in chemical weapons assessments, as well. In particular, FAS has had expert analysis during the early phases of the chemical weapons crisis in Syria.

Other Non-Nuclear Threats

Weapons technologies other than nuclear, biological, and chemical weapons will most likely increasingly pose challenges for international security. For example, the increasing use of drones for both surveillance and armed attacks by the United States and a growing number of additional countries might lead to global and regional arms races in drone use or might result in asymmetric means of targeted opponents striking back. In addition, cyber-attacks as demonstrated by the use of Stuxnet to destroy and disable about 1,000 uranium enrichment centrifuges in Iran have raised concern about counter-cyber-attacks against the United States and its allies. Also in this threat area, we at FAS will investigate the use of prompt global strike advanced conventional weapons to achieve strategic purposes or to target terrorists and other non-state actors. FAS is expanding its network of experts to assess these and other non-nuclear threats can are present or could emerge in the future.

On August 27, 2015, Celgene Corporation acquired all of the outstanding stock of Receptos, Inc., in exchange for $7.6 billion in cash. Referring to Celgene’s 2015 financial statements and its July 14, 2015, press release announcing the acquisition, answer the following questions regarding the Receptos acquisition.

Why did Celgene acquire Receptos?

What accounting method was used, and for what amount, to record the acquisition?

What amount did Celgene include in pre-combination service compensation in the total consideration transferred? What support is provided for this treatment in the Accounting Standards Codification (see ASC 805-30-30, paragraphs 9-13)?

What allocations did Celgene make to the assets acquired and liabilities assumed in the acquisition? Provide a calculation showing how Celgene determined the amount allocated to goodwill.

Describe the nature of the in-process research and development product rights acquired by Celgene in its acquisition of Receptos.

How will Celgene account for the in-process research and development product rights acquired in the Receptos combination?

A firm announced that it will pay a $0.10 dividend per share to holders of record as of Wednesday, July 29, 2020. Holding all else constant, the stock price will be lower by $0.10 per share at the opening of trading on

1. A) Monday, July 27, 2020

2. B) Tuesday, July 28, 2020.

3. C) Wednesday, July 29, 2020.

4. D) Thursday, July 20, 2020

5. E) The stock price will not be lower on any of the above days.

Ryan and Robin met at Rockhurst university and after graduation in 2020; they decided to form a business to market American flags, “buy American” bumper stickers, and other similar merchandise. The merchandise would be manufactured in China and sold initially only in Missouri. Ryan wants to operate the business as a partnership; while Robin wants to organize the business as a regular C corporation. Limit your answers for the first two question to these two business forms (3 points each)

a) Explain Ryan’s position. Be specific.

b) Explain Robin’s position

They have decided initially to do business only in Missouri. Their medium range plan (in the next 5 years) is to do business in 30 American states. Their long-term plan (in the next 20 years) is to be a multinational public firm with shareholders all over the world.

1. What business form do you recommend for the short term? Why?

2. What business form do you recommend for the medium term? Why?

At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Category Plant Asset Accumulated Depreciation and Amortization Land $ 168,000 $ — Buildings 1,150,000 321,900 Machinery and equipment 775,000 310,500 Automobiles and trucks 165,000 93,325 Leasehold improvements 202,000 101,000 Land improvements — — Depreciation methods and useful lives: Buildings—150% declining balance; 25 years. Machinery and equipment—Straight line; 10 years. Automobiles and trucks—150% declining balance; 5 years, all acquired after 2014. Leasehold improvements—Straight line. Land improvements—Straight line. Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2018 and other information: On January 6, 2018, a plant facility consisting of land and building was acquired from King Corp. in exchange for 18,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of $40 a share. Current assessed values of land and building for property tax purposes are $136,000 and $544,000, respectively. On March 25, 2018, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $150,000. These expenditures had an estimated useful life of 12 years. The leasehold improvements were completed on December 31, 2014, and had an estimated useful life of eight years. The related lease, which would terminate on December 31, 2020, was renewable for an additional four-year term. On April 30, 2018, Cord exercised the renewal option. On July 1, 2018, machinery and equipment were purchased at a total invoice cost of $318,000. Additional costs of $12,000 for delivery and $43,000 for installation were incurred. On August 30, 2018, Cord purchased a new automobile for $11,800. On September 30, 2018, a truck with a cost of $23,300 and a book value of $7,800 on date of sale was sold for $10,800. Depreciation for the nine months ended September 30, 2018, was $1,755. On December 20, 2018, a machine with a cost of $13,500 and a book value of $2,800 at date of disposition was scrapped without cash recovery. Required: 1. Prepare a schedule analyzing the changes in each of the plant asset accounts during 2018. Do not analyze changes in accumulated depreciation and amortization. 2. For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2018.

At December 31, 2020, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows:

Depreciation methods and useful lives:
Buildings—150% declining balance; 25 years.
Equipment—Straight line; 10 years.
Automobiles and trucks—200% declining balance; 5 years, all acquired after 2017.
Leasehold improvements—Straight line.
Land improvements—Straight line.

Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2021 and other information:

1. On January 6, 2021, a plant facility consisting of land and building was acquired from King Corp. in exchange for 24,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of $40 a share. Current assessed values of land and building for property tax purposes are $148,000 and $592,000, respectively.
2. On March 25, 2021, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $186,000. These expenditures had an estimated useful life of 12 years.
3. The leasehold improvements were completed on December 31, 2017, and had an estimated useful life of eight years. The related lease, which would terminate on December 31, 2023, was renewable for an additional four-year term. On April 30, 2021, Cord exercised the renewal option.
4. On July 1, 2021, equipment was purchased at a total invoice cost of $324,000. Additional costs of $12,000 for delivery and $49,000 for installation were incurred.
5. On September 30, 2021, Cord purchased a new automobile for $12,400.
6. On September 30, 2021, a truck with a cost of $23,900 and a book value of $9,000 on date of sale was sold for $11,400. Depreciation for the nine months ended September 30, 2021, was $2,025.
7. On December 20, 2021, equipment with a cost of $16,500 and a book value of $2,950 at date of disposition was scrapped without cash recovery.

Required:

1. Please help me make a schedule analyzing the changes in each of the plant asset accounts during 2021. Do not analyze changes in accumulated depreciation and amortization.
2. For each asset category, help me make a schedule showing depreciation or amortization expense for the year ended December 31, 2021. Thanks

At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows:

Depreciation methods and useful lives:
Buildings—150% declining balance; 25 years.
Machinery and equipment—Straight line; 10 years.
Automobiles and trucks—150% declining balance; 5 years, all acquired after 2014.
Leasehold improvements—Straight line.
Land improvements—Straight line.

Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2018 and other information:

On January 6, 2018, a plant facility consisting of land and building was acquired from King Corp. in exchange for 25,000 shares of Cord's common stock. On this date, Cord’s stock had a fair value of $50 a share. Current assessed values of land and building for property tax purposes are $187,500 and $562,500, respectively.

On March 25, 2018, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $192,000. These expenditures had an estimated useful life of 12 years.

The leasehold improvements were completed on December 31, 2014, and had an estimated useful life of eight years. The related lease, which would terminate on December 31, 2020, was renewable for an additional four-year term. On April 30, 2018, Cord exercised the renewal option.

On July 1, 2018, machinery and equipment were purchased at a total invoice cost of $325,000. Additional costs of $10,000 for delivery and $50,000 for installation were incurred.

On August 30, 2018, Cord purchased a new automobile for $12,500.

On September 30, 2018, a truck with a cost of $24,000 and a book value of $9,100 on date of sale was sold for $11,500. Depreciation for the nine months ended September 30, 2018, was $2,650.

On December 20, 2018, a machine with a cost of $17,000 and a book value of $2,975 at date of disposition was scrapped without cash recovery.

Required:

1. Prepare a schedule analyzing the changes in each of the plant asset accounts during 2018. Do not analyze changes in accumulated depreciation and amortization.
2. For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2018.

At December 31, 2017, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows: Category Plant Asset Accumulated Depreciation and Amortization Land $ 173,000 $ — Buildings 1,400,000 326,900 Machinery and equipment 1,025,000 315,500 Automobiles and trucks 170,000 98,325 Leasehold improvements 212,000 106,000 Land improvements — — Depreciation methods and useful lives: Buildings—150% declining balance; 25 years. Machinery and equipment—Straight line; 10 years. Automobiles and trucks—150% declining balance; 5 years, all acquired after 2014. Leasehold improvements—Straight line. Land improvements—Straight line. Depreciation is computed to the nearest month and residual values are immaterial. Transactions during 2018 and other information: On January 6, 2018, a plant facility consisting of land and building was acquired from King Corp. in exchange for 23,000 shares of Cord's common stock. On this date, Cord's stock had a fair value of $50 a share. Current assessed values of land and building for property tax purposes are $182,500 and $547,500, respectively. On March 25, 2018, new parking lots, streets, and sidewalks at the acquired plant facility were completed at a total cost of $180,000. These expenditures had an estimated useful life of 12 years. The leasehold improvements were completed on December 31, 2014, and had an estimated useful life of eight years. The related lease, which would terminate on December 31, 2020, was renewable for an additional four-year term. On April 30, 2018, Cord exercised the renewal option. On July 1, 2018, machinery and equipment were purchased at a total invoice cost of $323,000. Additional costs of $10,000 for delivery and $48,000 for installation were incurred. On August 30, 2018, Cord purchased a new automobile for $12,300. On September 30, 2018, a truck with a cost of $23,800 and a book value of $8,800 on date of sale was sold for $11,300. Depreciation for the nine months ended September 30, 2018, was $1,980. On December 20, 2018, a machine with a cost of $16,000 and a book value of $2,925 at date of disposition was scrapped without cash recovery. Required: 1. Prepare a schedule analyzing the changes in each of the plant asset accounts during 2018. Do not analyze changes in accumulated depreciation and amortization. 2. For each asset category, prepare a schedule showing depreciation or amortization expense for the year ended December 31, 2018.