Roper v. Simmons .
Compare the majority opinion and the minority opinion. Which do you agree with and why.
NOTE: Please no paper answer can’t understand some of the writing
In: Psychology
C 18-6
Interperiod Tax Allocation
LO 18.2 AICPA Adapted Chris Green, CPA, is auditing Rayne Co.'s 2016 financial statements. For the year ended December 31, 2016, Rayne is applying GAAP for income taxes. Rayne's controller, Dunn, has prepared a schedule of all differences between financial statement and income tax return income. Dunn believes that as a result of pending legislation, the enacted tax rate at December 31, 2016, will be increased for 2017. Dunn is uncertain which differences to include and which rates to apply in computing deferred taxes. Dunn has requested an overview of GAAP from Green.
Required:
Prepare a brief memo to Dunn from Green that identifies the objectives of accounting for income taxes, defines temporary differences, explains how to measure deferred tax assets and liabilities, and explains how to measure deferred income tax expense or benefit.
In: Accounting
SALES - 49247; NOPAT - 10382.8 ; NOA- 26472
BALANCE SHEET - NCI = (1)
If Cisco’s top management were optimistic about CISCO’s market growth opportunities and revised their sales growth rates up by 2%, please forecast Cisco's sales, NOPAT, and NOA for years 2017 through 2020 and the terminal period using the following assumptions:
Sales growth (2017) - 4% Sales growth (2018-2020) -5% Terminal growth -1% Net operating profit margin 2016 rate rounded to three decimal places Net operating asset turnover 2016 rate rounded to three decimal places
Estimate the value of a share of Cisco common stock as of July 30, 2016 using the discounted cash flow (DCF) model and the sales forecast in (g); Note, we still assume a discount rate (WACC) of 10%, common shares outstanding of 5,029 million, and net nonoperating obligations (NNO) of $(37,113) million.
In: Finance
Show work and solution. Also include correct notation.
At the end of 2016, the average number of businesses per county in Nebraska was 1,640. The businesses benefit from a state unemployment rate that is historically lower than the nation as a whole. Below is a partial list of counties in Nebraska and the respective number of businesses in operation at the end of 2016:
County # of Businesses
Custer 1,126
Sherman 279
Howard 454
Hall 5,085
Adams 2,794
Buffalo 3,992
Kearney 611
Phelps 1,008
Dawson 1,975
a) Compute and interpret the mean.
b) Compute the range.
c) Compute the variance.
d) Compute the standard deviation.
e) Compute the coefficient of variation for the scores.
f) A sample of counties in Nebraska from 2010 provided a sample
mean of 1,331
businesses and a sample standard deviation of 1,151 businesses.
What comparisons can
you make between the number of businesses/county in 2016 and 2010
based on these
descriptive statistics?
In: Statistics and Probability
Use the following information to answer this question.
| Thomas Company 2017 Income Statement ($ in millions) |
|||
| Net sales | $ | 9,530 | |
| Cost of goods sold | 7,760 | ||
| Depreciation | 465 | ||
| Earnings before interest and taxes | $ | 1,305 | |
| Interest paid | 104 | ||
| Taxable income | $ | 1,201 | |
| Taxes | 420 | ||
| Net income | $ | 781 | |
| Thomas Company 2016 and 2017 Balance Sheets ($ in millions) |
|||||||||||||
| 2016 | 2017 | 2016 | 2017 | ||||||||||
| Cash | $ | 230 | $ | 260 | Accounts payable | $ | 1,370 | $ | 1,385 | ||||
| Accounts rec. | 1,000 | 900 | Long-term debt | 1,100 | 1,300 | ||||||||
| Inventory | 1,810 | 1,695 | Common stock | 3,340 | 3,250 | ||||||||
| Total | $ | 3,040 | $ | 2,855 | Retained earnings | 640 | 890 | ||||||
| Net fixed assets | 3,410 | 3,970 | |||||||||||
| Total assets | $ | 6,450 | $ | 6,825 | Total liab. & equity | $ | 6,450 | $ | 6,825 | ||||
What is the debt to equity ratio for 2017?
Group of answer choices
64.86%
74.04%
82.62%
45.87%
31.40%
In: Finance
| U.S. Manufactured General Aviation Shipments, 1984–2016 | |||||||||||||||||||||||
| Year | Planes | Year | Planes | Year | Planes | Year | Planes | ||||||||||||||||
| 1984 | 3,861 | 1992 | 2,371 | 2000 | 4,246 | 2008 | 4,509 | ||||||||||||||||
| 1985 | 3,459 | 1993 | 2,394 | 2001 | 4,064 | 2009 | 3,015 | ||||||||||||||||
| 1986 | 2,925 | 1994 | 2,358 | 2002 | 3,637 | 2010 | 2,764 | ||||||||||||||||
| 1987 | 2,515 | 1995 | 2,507 | 2003 | 3,567 | 2011 | 2,753 | ||||||||||||||||
| 1988 | 2,642 | 1996 | 2,545 | 2004 | 3,785 | 2012 | 2,946 | ||||||||||||||||
| 1989 | 2,965 | 1997 | 2,979 | 2005 | 4,287 | 2013 | 3,045 | ||||||||||||||||
| 1990 | 2,574 | 1998 | 3,630 | 2006 | 4,577 | 2014 | 3,061 | ||||||||||||||||
| 1991 | 2,451 | 1999 | 3,934 | 2007 | 4,709 | 2015 | 3,022 | ||||||||||||||||
Make a forecast for 2016 using a method of your choice
(including a judgment forecast). Justify your method.
(Round your answer to the nearest whole
number.)
The two year moving average forecast for 2016 is
_______.
In: Statistics and Probability
At year-end 2016, total assets for Arrington Inc. were $1.5 million and accounts payable were $305,000. Sales, which in 2016 were $2.1 million, are expected to increase by 30% in 2017. Total assets and accounts payable are proportional to sales, and that relationship will be maintained; that is, they will grow at the same rate as sales. Arrington typically uses no current liabilities other than accounts payable. Common stock amounted to $365,000 in 2016, and retained earnings were $320,000. Arrington plans to sell new common stock in the amount of $140,000. The firm's profit margin on sales is 4%; 65% of earnings will be retained.
How much new long-term debt financing will be needed in 2017? Write out your answer completely. For example, 25 million should be entered as 25,000,000. Do not round your intermediate calculations. Round your answer to the nearest cent. (Hint: AFN - New stock = New long-term debt.)
In: Finance
|
2016 |
2015 |
|
|
Sales |
2250 |
2000 |
|
Opening stock |
30 |
20 |
|
Production |
2460 |
2000 |
|
Closing stock |
400 |
30 |
|
Cost of goods sold (opening stock + production – Closing stock) |
2090 |
1990 |
|
Other expenses |
80 |
50 |
|
Net Profit/Loss |
80 |
(40) |
In: Accounting
Hill Industries had sales in 2016 of $6880000 and gross profit
of $1205000. Management is considering two alternative budget plans
to increase its gross profit in 2017.
Plan A would increase the selling price per unit from $8.00 to
$8.40. Sales volume would decrease by 10% from its 2016 level. Plan
B would decrease the selling price per unit by $0.50. The marketing
department expects that the sales volume would increase by 102000
units.
At the end of 2016, Hill has 41000 units of inventory on hand. If
Plan A is accepted, the 2017 ending inventory should be equal to 5%
of the 2017 sales. If Plan B is accepted, the ending inventory
should be equal to 64000 units. Each unit produced will cost $1.80
in direct labor, $1.40 in direct materials, and $1.20 in variable
overhead. The fixed overhead for 2017 should be $1360000.
Sales, Production, Direct Material and Direct Labor budgets needed
In: Accounting
Quinn Company’s balance sheet information at the end of 2016 and 2017 is as follows:
2016 2017
Total shareholders’ equity | $ (n) | $ 145,600 |
Accumulated other comprehensive income | 14,800 | 5,000 |
Current liabilities | (m) | 24,900 |
Intangible assets | 15,000 | 13,900 |
Property, plant, and equipment (net) | (l) | 96,700 |
Current assets | 25,000 | (j) |
Total contributed capital | 123,900 | (i) |
Long-term liabilities | (k) | 78,000 |
Retained earnings | 67,850 | (h) |
Total assets | (e) | (d) |
Common stock, $5 par | (f) | (c) |
Working capital | 23,500 | 33,800 |
Additional paid-in capital | (g) | 45,000 |
Long-term investments | 28,900 | (b) |
Total liabilities | 5,500 | (a) |
At the end of 2016, additional paid-in capital was twice the amount of common stock. During 2017 the company issued 1,000 shares of common stock.
Required:
Fill in the blanks lettered a through n. It is not necessary to calculate the information in alphabetical order.
In: Accounting