Steve Jackson (birthdate December 13, 1966) is a single taxpayer living at 3215 Pacific Dr., Apt. B, Ca 92109. His Social Security number is 465-88-9415. In 2019, Steve's earnings and income tax withholding as laundry attendant of a local hotel are:
Earnings from the Ocean View Hotel.         21,900
Federal income tax withheld.                              219
State income tax withheld.                                  100
Steve has a daughter, Janet, from a previous marriage. Janet is 11 years old( Social Security number 645-12-6543). Steve provides all Janet's support. Also living with Steve is his younger brother, Michael (Social Security number 667-21-8998). Michael, age 47, is unable to care for himself due to disability. On a reasonably regular basis, Steve has care giver come to help with Micheal. He uses a company called HomeAid, 456 La Jolla Dr., San Diego, CA 92182 (EIN 17-9876543). Steve made payments of $1000 to HomeAid in 2019. Janet receives free after-school care provided by the local school district.
Complete Steve's federal tax return for 2019. Use form 1040, Schedule 3, Form 2441, Child Tax Credit Worksheet, Form 8812, ETIC Worksheet A and Schedule EIC

Alternative Inventory Methods Park Company's perpetual inventory records indicate the following transactions in the month of June: Units Cost/Unit Inventory, June 1 200 $3.20 Purchases: June 3 200 3.50 June 17 250 3.60 June 24 300 3.65 Sales: June 6 300 June 21 200 June 27 150 Required: 1. Compute the cost of goods sold for June and the inventory at the end of June using each of the following cost flow assumptions: If required, round your answers to the nearest dollar. FIFO Cost of Goods Sold $ Ending Inventory $ LIFO (Round your intermediate calculations and final answers to the nearest cent.) Cost of Goods Sold $ Ending Inventory $ Average cost (In your computations, round new per unit costs to the nearest cent. Round your intermediate computations and final answers to the nearest dollar.) Cost of Goods Sold $ Ending Inventory $ 2. Why are the cost of goods sold and ending inventory amounts different for each of the three methods? 3. produces the most realistic amount for net income because it produces the most realistic amount for ending inventory because it 4. If Park uses IFRS, which of the previous alternatives would be acceptable and why? The input in the box below will not be graded, but may be reviewed and considered by your instructor.

Kelly Hayes operates a bed and breakfast hotel in a beach resort area of Noosa. Depreciation on the hotel is $60,000 per year. Kelly employs a maintenance person at an annual salary of $30,000 per year and a cleaning person at an annual salary of $24,000 per year. Rates and taxes are $10,000 per year. The rooms rent at an average price of $50 per person per night including breakfast. Other costs are laundry service at $4.00 per person per night and the cost of food which is $6.00 per person per night.

Instructions:

(a)what are total fixed cost and Variable cost per person per night ?


b)Determine the number of rentals and the sales revenue Kelly needs to break even using the contribution margin technique.

(c) If the current level of rentals is 4,000, by what percentage (Margin of Safety) can rentals decrease before Kelly has to worry about having a net loss?

(d) Kelly is considering upgrading the breakfast service to attract more business and increase prices. This will cost an additional $5.00 for food costs per person per night. Kelly feels she can increase the room rate to $65 per person per night. Determine the number of rentals and the sales revenue Kelly needs to break even if the changes are made.

e) Determine the contribution margin per person per night ?

PRACTICAL QUESTION   

Tiger Construction Ltd signs a contract on 1 May 2018 to build a theme park. The construction is scheduled to commence on 1 July 2018 and the estimated date of completion is 30 June 2021. The total contract price is $5m and the cost of the park is initially estimated at $4.5m. The following data relates to the construction period:

Assume that cost (an input measure) is used as the basis for assessing progress on the construction contract.

Required

Determine the percentage of completion for 2019, 2020 and 2021.              

Calculate revenue and gross profit for 2019, 2020 and 2021.                          

Using the percentage of completion method, provide the journal entries for 2019, 2020 and 2021.                                                                                                              

PRACTICAL QUESTION                                                                                         

Tiger Construction Ltd signs a contract on 1 May 2018 to build a theme park. The construction is scheduled to commence on 1 July 2018 and the estimated date of completion is 30 June 2021. The total contract price is $5m and the cost of the park is initially estimated at $4.5m. The following data relates to the construction period:

Assume that cost (an input measure) is used as the basis for assessing progress on the construction contract.

Required

Determine the percentage of completion for 2019, 2020 and 2021.               

Calculate revenue and gross profit for 2019, 2020 and 2021.                           

Using the percentage of completion method, provide the journal entries for 2019, 2020 and 2021.                                                                                                              

PRACTICAL QUESTION                                                                                         

Tiger Construction Ltd signs a contract on 1 May 2018 to build a theme park. The construction is scheduled to commence on 1 July 2018 and the estimated date of completion is 30 June 2021. The total contract price is $5m and the cost of the park is initially estimated at $4.5m. The following data relates to the construction period:

Assume that cost (an input measure) is used as the basis for assessing progress on the construction contract.

Required

Determine the percentage of completion for 2019, 2020 and 2021.               

Calculate revenue and gross profit for 2019, 2020 and 2021.                           

Using the percentage of completion method, provide the journal entries for 2019, 2020 and 2021.                                                                                                              

1. The Sleep Well Corporation operates many hotels throughout the world. Suppose one of its Chicago hotels is facing difficult times because of the opening of several competing hotels. To accomodate its flight personnel, Air One has offered Sleep Well a contract for the coming year that provides a rate of $75 per night per room for a minimum of 45 rooms for 365 flights. This contract would assume Sleep Well of selling 45 rooms of space nightly, even if some of the rooms are vacant on some nights. Assume zero variable costs. The Sleep Well manager has mixed feelings about the contract. On several peak nights during the? year, the hotel could sell the same space for $175 per room. Suppose the Sleep Well manager signs the contract. What is the opportunity cost of the 45 rooms on October? 20, the night of a big convention of retailers when every nearby hotel room is? occupied? What is the opportunity cost on December? 28, when only 9 of these rooms would be expected to be rented at an average rate of $105??

If the? year-round rate per room averaged $85?, what percentage of occupancy of the 45 rooms in question would have to be rented to make Sleep Well indifferent about accepting the? offer?

PLEASE EXPLAIN HOW YOU GOT THE ANSWER WITH STEPS.

Write a program in Java Using object Orientation Design to determine the status of Mini Van Sliding Doors. A logical circuit receives a different binary code to allow opening different doors. The doors can be opened by a dashboard switch, inside or outside handle. The inside handle will not open the door if the child safety lock is on or the master lock is on. The gear shift must be in the park to open the door.

1. A method must be written to indicate the gear shift status and return to main.
2. A method to display which door is open or can be opened.
3. A method to show the status of all doors
4. A method to convert the code to decimal and store in the text file (Character based) as a record.

** MUST USE constructors and methods. The methods should be instantiated by an object. Use simple main. The first bit Stream must be entered by users. The program needs to be interactive

Hints & Suggestions

park

door1

door2

dashboardSwitch

inHandle

outHandle

safteyLock

(Solving with excel workbook)

A large corporation must reserve a hotel room block for its annual stockholders' meeting. Based on history, the number of attendees will be normally distributed with mean 4900 and standard deviation 1000. Rooms can be reserved now for a cost of $150/room. If the number of rooms reserved is less than attendance, additional rooms must be reserved at a cost of $250/room. If the number of rooms reserved is greater than attendance, the corporation must indemnify the hotel at the rate of $75 per unused room.

The boss tells you: "I am going to reserve 4300, 4400, 4500, 4600, 4700, 4800, 4900, 5000, 5100, or 5200 rooms, whichever you recommend. Please give me your recommendation." (first number requested)

Redo the problem: The number attending has a triangular distribution with minimum 2000, most likely value 4900, and maximum value 6900. Again, he boss tells you: "I am going to reserve 4300, 4400, 4500, 4600, 4700, 4800, 4900, 5000, 5100, or 5200 rooms, whichever you recommend. Please give me your recommendation." (second number requested)

For the first part of the problem, what is the chance that the random number sampled from the normal is negative, to 3 significant decimal digits? (third number requested)