The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2018. The company buys debt securities, intending to profit from short-term differences in price and maintaining them in an active trading portfolio. Ornamental’s fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2017. Mar. 31 Acquired 8% Distribution Transformers Corporation bonds costing $500,000 at face value. Sep. 1 Acquired $1,200,000 of American Instruments' 10% bonds at face value. Sep. 30 Received semiannual interest payment on the Distribution Transformers bonds. Oct. 2 Sold the Distribution Transformers bonds for $575,000. Nov. 1 Purchased $1,900,000 of M&D Corporation 6% bonds at face value. Dec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are: American Instruments bonds $ 1,160,000 M&D Corporation bonds $ 1,970,000 Indicate any amounts that Ornamental Insulation would report in its 2018 income statement, 2018 statement of comprehensive income, and 12/31/2018 balance sheet as a result of these investments. (Amounts to be deducted should be indicated with a minus sign.)

Described below are three independent and unrelated situations involving accounting changes. Each change occurs during 2018 before any adjusting entries or closing entries are prepared. On December 30, 2014, Rival Industries acquired its office building at a cost of $11,400,000. It has been depreciated on a straight-line basis assuming a useful life of 40 years and no residual value. Early in 2018, the estimate of useful life was revised to 28 years in total with no change in residual value. At the beginning of 2014, the Hoffman Group purchased office equipment at a cost of $612,000. Its useful life was estimated to be 8 years with no residual value. The equipment has been depreciated by the sum-of-the-years’-digits method. On January 1, 2018, the company changed to the straight-line method. At the beginning of 2018, Jantzen Specialties, which uses the sum-of-the-years’-digits method, changed to the straight-line method for newly acquired buildings and equipment. The change increased current year net income by $585,000. Required: 1. Identify the type of change. 2. Prepare any journal entry necessary as a direct result of the change as well as any adjusting entry for 2018 related to the situation described. (Ignore income tax effects.)

Described below are three independent and unrelated situations involving accounting changes. Each change occurs during 2018 before any adjusting entries or closing entries are prepared.

1. On December 30, 2014, Rival Industries acquired its office building at a cost of $9,600,000. It has been depreciated on a straight-line basis assuming a useful life of 30 years and no residual value. Early in 2018, the estimate of useful life was revised to 18 years in total with no change in residual value.
2. At the beginning of 2014, the Hoffman Group purchased office equipment at a cost of $576,000. Its useful life was estimated to be 8 years with no residual value. The equipment has been depreciated by the sum-of-the-years’-digits method. On January 1, 2018, the company changed to the straight-line method.
3. At the beginning of 2018, Jantzen Specialties, which uses the sum-of-the-years’-digits method, changed to the straight-line method for newly acquired buildings and equipment. The change increased current year net income by $565,000.

Required:

1. Identify the type of change.
2. Prepare any journal entry necessary as a direct result of the change as well as any adjusting entry for 2018 related to the situation described. (Ignore income tax effects.)

16 percent of U.S. residents are in their forties. Consider a group of seven U.S. residents selected at random. Find the probability that 3 or 4 of the people in the group are in their thirties

The probability that at least five of the people in the group are in their forties is ___. (Round to four decimal places as needed.)

What is Accessibility?

A 1997 report by the U.S. Census Bureau categorizes 19.6% of the U.S. population as having some sort of disability. Within that group are individuals with visual, hearing, cognitive, and motor impairments. Each category includes a much wider range of conditions. For example, visual impairments include limited vision, color blindness, and blindness. Disability categories can also include temporary disabilities; for example, someone with a broken wrist may have difficulty using a mouse but still needs access to the web to meet day-to-day job requirements.

At the same time, statistics about individuals with disabilities may be misleading. As people get older, most face a disability of some kind. While nearly 20% of the total U.S. population has a disability, as the population ages, the proportion of people with disabilities grows (see Table 1). In fact, almost 75% of the population over 80 years old has a disability. Thus, accessibility is not just about opening doors — it is about keeping them open.

1 If the U.S. government takes the value of in-kind transfers into consideration, the U.S. poverty rate decreases.True/False

2 If women are not allowed to own property or inherit wealth but men are, this is an example of comparative advantage.True/False

3 In his book The Other Path, de Soto suggests that countries will grow more quickly if governments limit entrepreneurship.True/False

4 In his book The Other Path, de Soto suggests that countries will grow more quickly if bureaucratic barriers to free enterprise are reduced. True/False

5 In-kind transfers include housing subsidies and food stamps. True/False

6 Lack of access to sanitation and inadequate medical care have a negative impact on the development of human capital.True/False

7 Over half of the people in the world who live in extreme poverty live in China and India combined. True/False

   8 Poverty is considered to be more permanent in the United States than it is in other nations. True/False

   9 Providing basic health care and education for poor countries is cost prohibitive. True/False

10    The U.N. has established a Millennium Poverty Goal of cutting the number of people in extreme global poverty in half by 2015.True/False

The basic premise of the U.S. income tax system is that U.S. citizens, resident aliens and corporations are subject to tax on worldwide income regardless of the country from which the income derives. The Tax Cuts and Jobs Act of 2017 essentially moved the U.S. towards a hybrid “Worldwide Tax System” to a “Territorial Basis Tax System.”

Briefly explain the “old system” and then describe some of the most salient provisions which characterize a “Territorial System.” Provide explanations, analysis and comments

What is The "Current Macroeconomic Situation" In the U.S. (e.g. is The U.S. Economy Currently Concerned about Unemployment, Inflation, Recession, Etc.)? What Fiscal Policies And Monetary Policies Would Be Appropriate At This Time?

For most of the 1800s, the United States did not recognize the copyrights of books written by foreign authors. As a result, many U.S. publishers printed “pirated”—unauthorized—editions of Charles Dickens and other British authors without paying them royalties. A history of book publishing noted, “[U.S.] publishers claimed that pirating [foreign] works allowed their prices to remain low, which in turn made the works more accessible to the public at large.” There were (eventually successful) attempts in Congress to recognize foreign copyrights in exchange for other countries recognizing U.S. copyrights. At the time, one U.S. publisher described these efforts as the “clamor of two hundred authors against the interests of fifty-five million people.” Do copyright laws benefit authors at the expense of readers? If so, why does the U.S. Constitution give Congress the right to enact copyright laws?