On January 1, 2020, Claudia, a single taxpayer who was age 67 at the time, began receiving monthly retirement benefits from her former employer's pension plan. Claudia did not receive any distributions before the annuity start date, and her investment in the plan is $35,000. There is no survivor beneficiary. I f Claudia receives a monthly benefit of $1,200, what amount will she recover tax-free in 2020?

Executive Summary:

• Choose a real and/or existing product
• Briefly explain the product in not more than 5 sentences.
• Briefly introduce this document from the underlying assumption until the risk and mitigation.

Underlying Assumption:

• Resources that are required to run the operation: List the raw material, labor, and other overhead i.e. rent, salaries etc needed
• Period should be between January 01, 2020 to June 31, 2020
• Currency should be in USD

Read through the paragraph below. Afterward, create a thread in the discussion forum and in it, explain why the cope of coronavirus-induced economic downturn is worse than any recessions in the past?

Federal Reserve Chairman Jerome Powell urged the White House and Congress to spend more money to ensure their initial response to the coronavirus-induced economic downturn isn’t squandered. “There is a growing sense that the recovery may come more slowly than we would like…and that may mean that it’s necessary for us to do more,”. He warned that, with revenues depressed for longer, waves of business bankruptcies could follow, risking a much slower pace of improvement in the job market. “Additional fiscal support could be costly but worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery,” Mr. Powell said. For example, if small businesses that were viable enterprises before the crisis fail, “we would lose more than just that business. We lose something more fundamental,” he said. “And it won’t be able to be replaced quickly.” “The scope and speed of this downturn are without modern precedent, significantly worse than any recession since World War II,” Mr. Powell said. Wall Street journal – May 13, 2020).

for the company RITE AID add all calculation

1. Prepare a horizontal analysis of your company's Income Statement over the past two years.

2. Calculate the following ratios for the most recent two years and comment on the results of your ratio analysis. How do the results for your company compare to industry averages?

a. Accounts receivable turnover: Note: Since credit sales information will not be available in the 10-K reports for the accounts receivable turnover, we will be using sales/net sales or similar account instead of credit sales. Also, be sure to use the average accounts receivable.

b. Profit margin

c. Return on assets: Be sure to use the average total assets.

d. Times interest earned = (income before taxes + interest expense)/interest expense. Note that income (or earnings) before interest & taxes has the abreviation EBIT. Also, EBIT is sometimes referred to as "Income from Operations."

only question 2 and information used from 2020 10k filing.

Multiple Choice

• $358,300.

• $72,900.

• $248,900.

• $0.

GBA 5205

Survey of Accounting Fifth Edition by Edmonds (ISBN 9781307078473)

Problem 2-32

Recording events in a horizontal statements model

The following events pertain to Super Cleaning Company:

1. Acquired $10,000 cash from the issue of common stock.

2. Provided $15,000 of services on account.

3. Provided services for $5,000 cash.

4. Received $2,800 cash in advance for services to be performed in the future.

5. Collected $12,200 cash from the account receivable created in Event 2.

6. Paid $1,900 for cash expenses.

7. Performed $1,400 of the services agreed to in Event 4.

8. Incurred $3,600 of expenses on account.

9. Paid $4,800 cash in advance for one-year contract to rent office space.

10. Paid $2,800 cash on the account payable created in Event 8.

11. Paid a $1,500 cash dividend to the stockholders.

12. Recognized rent expense for nine months’ use of office space acquired in Event 9

Required

Show the effects of the events on the financial statements using a horizontal statements model like the following one. In the Cash Flows column, use the letters OA to designate operating activity, IA for investing activity, FA for financing activity, and NC for net change in cash. Use NA to indicate accounts not affected by the event. The first event is recorded as an example.

PROBLEM 2-32

*$          x    /12 = $

Summary: Key Points in the Article

Apple Computer CEO Steve Jobs announced he was taking a leave of absence for health reasons. Jobs has been fighting cancer and also recently underwent a liver transplant. Even though the computer giant is in good hands with Chief Operating Officer Tom Cook taking over the stock price fell by​ US$6.40, or nearly two​ percent, on the news.

Jobs is widely known as a visionary and a micromanager. Under his leadership Apple has transformed the computing industry. While​ Jobs' health outlook is unknown many investors are betting on his recovery and return. Those who bought Apple stock when Jobs stepped down in 2004 for health reasons made a nice profit when he returned to the helm.  

Question                                                                                                                               2 Marks

“When a financial manager makes good or bad financial decisions the impact of these decisions will be reflected in the​ company's Stock price”.

Do you agree with the decision taken in the above case? What decisions you will take to improve the stock price of Apple Computers in this situation?

You must comment on two peer posts.

Uber has long been criticized for its use of surge pricing, setting prices based on current supply and demand factors, which, at times, results in a sudden and drastic increase in prices. In a Wall Street Journal article, the CEO of Uber was asked if we are seeing the end of surge pricing. His response: “. . . at the end of the day, Friday night is three or five times bigger than a Sunday night in any city around the world. And if you’ve got enough supply on the system so that we were perfectly supplied on a Friday night for as much demand as a city could ever throw at us, then the rest of the week you have drivers not making a living.”

a. Draw a demand and supply graph for Uber rides in Miami on a Sunday night. How does demand change on a Friday night? How does the supply of Uber rides change? Label the shortage of Uber cars that results on a Friday night without surge pricing.

b. Show what happens to consumer and producer surplus on a Friday night without surge pricing.

c. How does surge pricing change consumer and producer surplus?

INSTRUCTIONS

10. Prepare a post-closing trial balance as of April 30, 2020.

Janet Stevens began her tax business, Stevens Tax Service, on February 1, 2020. Below is the Chart of Accounts for the company:

Acct # Account Title

11 Cash

12 Accounts receivable

14 Supplies

15 Prepaid Rent

16 Prepaid Insurance

18 Office Equipment

19 Accumulated Depreciation

21 Accounts Payable

23 Unearned Fees

31 Janet Stevens, Capital

32 Janet Stevens, Drawing

41 Fees Earned

51 Salary Expense

52 Rent Expense

53 Supplies Expense

54 Depreciation Expense

55 Insurance Expense

59 Miscellaneous Expense

After closing the books at the end of March, Stevens Tax Service had the following post-closing trial balance:

Stevens Tax Service

Post-Closing Trial Balance

March 31, 2020

Acct # Account Title Debit Credit

11 Cash 12,800

12 Accounts Receivable 9,750

14 Supplies 725

15 Prepaid Rent 5,000

16 Prepaid Insurance 2,250

18 Office Equipment 10,500

19 Accumulated Depreciation 700

21 Accounts Payable 1,510

23 Unearned Fees 1,800

31 Janet Stevens, Capital 37,015

Totals 41,025 41,025

During the month of April, 2020, Stevens Tax Service entered into the following transactions:

Apr. 3. Received cash from clients as advance payments for services to be provided and recorded it as unearned fees, $4,500.

5. Received cash from clients on account, $5,550.

8. Paid cash for an online advertisement for $600.

10. Paid Office Depot on account, $1,000.

12. Recorded services provided on account for the period of April 1-15, $9,450.

14. Paid receptionist for two weeks’ salary $1,500.

15. Recorded cash from cash clients for fees earned during the period of April 1-15, $8,300.

16. Purchased office supplies on account, $1,500.

20. Paid telephone bill, $500.

21. Paid electricity bill, $720.

25. Recorded cash received from clients on account, $6,200.

28. Paid receptionist for two weeks’ pay, $1,500.

30. Recorded cash from cash clients for fees earned for the period March 16-30, $8,900.

30. Recorded services on account for February 16-30, $10,600.

30. Janet withdrew $9,000 for personal use.