Melissa recently paid $625 for round-trip airfare to San Francisco to attend a business conference for three days. Melissa also paid the following expenses: $725 fee to register for the conference, $415 per night for three nights’ lodging, $205 for meals, and $395 for cab fare. (Leave no answers blank. Enter zero if applicable.) (Round your answer to the nearest dollar amount.)

a. What amount of the travel costs can Melissa deduct as business expenses?

b. Suppose that while Melissa was on the coast, she also spent two days sightseeing the national parks in the area. To do the sightseeing, she paid $1,590 for transportation, $880 for lodging, and $390 for meals during this part of her trip, which she considers personal in nature. What amount of the travel costs can Melissa deduct as business expenses?

c. Suppose that Melissa made the trip to San Francisco primarily to visit the national parks and only attended the business conference as an incidental benefit of being present on the coast at that time. What amount of the airfare can Melissa deduct as a business expense?

d. Suppose that Melissa’s permanent residence and business was located in San Francisco. She attended the conference in San Francisco and paid $725 for the registration fee. She drove 105 miles over the course of three days and paid $169 for parking at the conference hotel. In addition, she spent $295 for breakfast and dinner over the three days of the conference. She bought breakfast on the way to the conference hotel and she bought dinner on her way home each night from the conference. What amount of the travel costs can Melissa deduct as business expenses? (Use standard mileage rate. Do not round intermediate calculations. Round your final answer to the nearest dollar amount.)

Melissa recently paid $625 for round-trip airfare to San Francisco to attend a business conference for three days. Melissa also paid the following expenses: $405 fee to register for the conference, $360 per night for three nights’ lodging, $280 for meals, and $240 for cab fare. (Leave no answers blank. Enter zero if applicable.) (Do not round intermediate calculations. Round your final answer to the nearest dollar amount.)

a. What amount of the travel costs can Melissa deduct as business expenses?
b. Suppose that while Melissa was on the coast, she also spent two days sightseeing the national parks in the area. To do the sightseeing, she paid $1,650 for transportation, $1,035 for lodging, and $320 for meals during this part of her trip, which she considers personal in nature. What amount of the travel costs can Melissa deduct as business expenses?
c. Suppose that Melissa made the trip to San Francisco primarily to visit the national parks and only attended the business conference as an incidental benefit of being present on the coast at that time. What amount of the airfare can Melissa deduct as a business expense?
d. Suppose that Melissa’s permanent residence and business was located in San Francisco. She attended the conference in San Francisco and paid $405 for the registration fee. She drove 117 miles over the course of three days and paid $152 for parking at the conference hotel. In addition, she spent $625 for breakfast and dinner over the three days of the conference. She bought breakfast on the way to the conference hotel and she bought dinner on her way home each night from the conference. What amount of the travel costs can Melissa deduct as business expenses? (Use standard mileage rate.)

1. Airbnb has housed over 150 million guests in over 65,000 cities since 2008. Do a bit of research on what Airbnb is and how cities and the hotel industry has been responding to it. Draw a supply and demand graph, model the labor market for hotel workers, pre-Airbnb, and show how Airbnb has likely affected the market.

2. We all love to go to little, local ice cream shops. Many of these places hire teenagers over the summer to serve these delicious treats for us. Suppose that a new minimum wage bill comes online this summer, raising the minimum to $10/hour. Create two graphs: 1) model the market for these ice cream shop workers and how shop owners will likely respond to the minimum wage increase immediately after it happens; 2) model what would happen if a company starts using very cheap robot ice cream servers... how does it affect the market for teenage servers. Explain in your paragraph what is going on and give arguments why your graph is reasonable.

3. Many parts of the U.S. have a shortage of IT workers... not enough people are trained in these fields. Model the market for IT workers. What would happen if a new training program was targeted toward people in Appalachia who have a hard time finding work... the program trains this group to be IT technicians. Does it lead to more employment in IT?

4. You are looking at the labor market for young, childless males seeking work with low-paying employers (i.e. Wal-Mart). With a supply and demand graph, show the effects of expanding the EITC to these workers. Illustrate an initial equilibrium (before EITC), the shift due to the new EITC expansion, and point out the wage they get paid from the employer and the additional “pay” they get due to the EITC.

In a murder trial in Los Angeles, the prosecution claims that the defendant was cut on the left middle finger at the murder scene, but the defendant claims the cut occurred in Chicago, the day after the murders had been committed. Because the defendant is a sports celebrity, many people noticed him before he reached Chicago. Twenty-two people saw him casually, one person on the plane to Chicago carefully studied his hands looking for a championship ring, and another person stood with him as he signed autographs and drove him from the airport to the hotel. None of these 24 people saw a cut on the defendant’s finger. If in fact he was not cut at all, it would be extremely unlikely that he left blood at the murder scene.

(a) Because a person casually meeting the defendant would not be looking for a cut, assume that the probability is 0.7 that such a person would not have seen the cut, even if it was there. Furthermore, assume that the person who carefully looked at the defendant’s hands had a 0.4 probability of not seeing the cut even if it was there and that the person who drove the defendant from the airport to the hotel had a 0.6 probability of not seeing the cut even if it was there. Given these assumptions, and also assuming that all 24 people looked at the defendant independently of each other, what is the probability that none of the 24 people would have seen the cut, even if it was there? (Do not round intermediate calculations and round your final answer to 4 decimal places.)

Probability          

(b) What is the probability that at least one of the 24 people would have seen the cut if it was there? (Round your answer to 4 decimal places.)

Probability         

(c) Given the result of part b and given the fact that none of the 24 people saw a cut, do you think the defendant had a cut on his hand before he reached Chicago?

Yes or No

NewTech Medical Devices is a medical devices wholesaler that commenced business on June 1, 20X1. The company purchases merchandise for cash and on open account. In June 20X1, NewTech Medical Devices engaged in the following purchasing and cash payment activities:

Required:
Journalize the transactions in a general journal.

Analyze:
What was the amount of trade discounts received on the June 15 purchase from Park Research?

Statistics Out- of- Control Signals

Out-of-control signal I: Any point falls beyond the ±3σ level.

Out-of-control signal II: A run of nine consecutive points on the same side of the center line.

Out-of-control signal III: At least two of three consecutive points lie beyond the ±2σ level on the same side of the center line.

Yellowstone Park Medical Services provides emergency health care for park visitors. Such health care includes treatment for everything from indigestion and sunburn to more serious injuries. A recent issue of Yellowstone Today indicated that the average number of visitors treated each day was 21.7. The estimated standard deviation was 4.2.

For a ten- day summer period, the following data were obtained:

Day 1 2 3 4 5 6 7 8 9 10

Number Treated 20 15 12 21 24 28 32 36 35 37

The manager of a motel has 316 rooms. From observation over a long period of time, she knows that on an average night, 268 rooms will be rented. The long-term standard deviation is 12 rooms. For 10 consecutive nights, the following numbers of room were rented each night:

Night 1 2 3 4 5 6 7 8 9 10

Number of Rooms 238 245 261 269 273 250 241 230 215 217

+3σ = 34.3…………………………………………………………………………………………………………

+2σ= 30.1……………………………………………………………………………………………………….

+1σ = 25.9………………………………………………………………………………………………………..

µ = 21.7 _________________________________________________________

-1σ= 17.5………………………………………………………………………………………………………………

-2σ= 13.3………………………………………………………………………………………………………………

-3σ =9.1 ………………………………………………………………………………………………………………

Days 1 2 3 4 5 6 7 8 9 10

+3σ = …………………………………………………………………………………………………………

+2σ= ……………………………………………………………………………………………………….

+1σ ………………………………………………………………………………………………………..

µ = _________________________________________________________

-1σ= ………………………………………………………………………………………………………………

-2σ= ………………………………………………………………………………………………………………

-3σ = ………………………………………………………………………………………………………………

Nights 1 2 3 4 5 6 7 8 9 10

You are the accounting manager of ABC Inc, which sells laptops. Your company has the following transactions for the month of December, 2019:

1. December 1^st: Ordered 10,000 laptops from Park Inc and paid cash of $200.
2. December 1^st: Bought a delivery truck from Arthur Motors Inc for $36,000. You estimate that this delivery truck can be used for anywhere between 12 to 36 months.
3. December 5^th: Spent $20 in cash on each laptop to package it.
4. Dec 10^th: Delivered 10,000 laptops for a price of $500 to Bata Inc. and received cash for the entire order.
5. December 20^th: Ordered 5,000 laptops from Park Inc. and paid cash of $250.
6. December 29^th: Received a call from Home Inc. saying that they want 5,000 ($500 each)laptops. Home Inc. said that they can receive delivery any time between December 30^th, 2019 and January 5^th, 2020. You also know that Home Inc. will only be able to pay in February, 2020 as it is going through financial trouble. A credit check allowed you to find out that Home Inc. will only be able to pay between 80 – 90% of the full amount.

Your CEO, Mrs. Hop, asks you to present her some accounting numbers by the end of day on December 31^st, 2019.

a) What is the highest value of net income you can report to her? (1.5 points)

b) What is the lowest value of net income you can report to her? (1.5 points)

c) What is the highest value of cash provided by operations you can report to her? (1.5 points)

d)What is the lowest value of cash provided by operations you can report to her? (1.5 points)

Please show the formula.

The YMCA contracts with Road Maintenance Inc. to clear roads and driveways during the winter months and to do repair work during summer on its properties in Estes Park and Winter Park. Road Maintenance has been doing this work for over 10 years and has been very responsive to the YMCA’s requests. The YMCA site managers call Road Maintenance to request specific work to be done, and Road Maintenance does the work then bills the YMCA quarterly for work that’s been performed. The YMCA pays the bills within 60 days of receiving the invoices. Occasionally, Road Maintenance will donate its services to the YMCA to receive a tax write off.

While clearing off a remote access road that had recently been patched by YMCA volunteers, Road Maintenance’s plow broke when it hit an unexpected barrier. Road Maintenance bills the YMCA for repair costs to the plow, and the YMCA refuses to pay for it. Neither party can find their original contract to see who is responsible for the repair costs.

QUESTION #1: (1 point)

What tort should Road Maintenance bring against the YMCA?

QUESTION #2: (2 points)

List the elements of the tort you identified when answering Question #1 and apply them to the hypothetical.

QUESTION #3: (1 points)

What contract claim should Road Maintenance bring against the YMCA?

QUESTION #4: (2 points)

List the elements of the contract claim you identified when answering Question #3 and apply them to the hypothetical.

QUESTION #5: (4 points)

Who is most likely to win: Road Maintenance or YMCA? What will be the easiest cause of action for Road Maintenance to prove—the tort or the contract claim? The most difficult? Explain your reasoning.

Melissa recently paid $760 for round-trip airfare to San Francisco to attend a business conference for three days. Melissa also paid the following expenses: $370 fee to register for the conference, $365 per night for three nights’ lodging, $250 for meals, and $300 for cab fare. (Leave no answers blank. Enter zero if applicable.) (Do not round intermediate calculations. Round your final answer to the nearest dollar amount.)

A. What amount of the travel costs can Melissa deduct as business expenses?
Deductible Amount:

B. Suppose that while Melissa was on the coast, she also spent two days sightseeing the national parks in the area. To do the sightseeing, she paid $1,710 for transportation, $1,285 for lodging, and $475 for meals during this part of her trip, which she considers personal in nature. What amount of the travel costs can Melissa deduct as business expenses?
Deductible Amount:

C. Suppose that Melissa made the trip to San Francisco primarily to visit the national parks and only attended the business conference as an incidental benefit of being present on the coast at that time. What amount of the airfare can Melissa deduct as a business expense?
Deductible Amount:

D. Suppose that Melissa’s permanent residence and business was located in San Francisco. She attended the conference in San Francisco and paid $370 for the registration fee. She drove 153 miles over the course of three days and paid $190 for parking at the conference hotel. In addition, she spent $430 for breakfast and dinner over the three days of the conference. She bought breakfast on the way to the conference hotel and she bought dinner on her way home each night from the conference. What amount of these costs can Melissa deduct as business expenses? (Use standard mileage rate.)
Deductible Amount: