Questions
Nora has some questions for you regarding her individual tax return and C-C Bakery. Her business...

Nora has some questions for you regarding her individual tax return and C-C Bakery. Her business has been doing extremely well, and she has decided to give back to her community. She would like to contribute $70,000 in December of 2016 to the charitable and nonprofit Boys and Girls Club. She would like to know if she should contribute this from her business account or her individual account. She would also like to know if there are any tax advantages or limitations. Her bakery has been profitable, as her taxable income is projected to be around $500,000 on her 2016 tax return. Her adjusted gross income on her individual return will be around $350,000. She has made no further charitable contributions throughout the year. In a short memo, advise how she can take advantage of the deduction for the charitable contributions to her community via her individual return and/or corporate return.

In: Accounting

You have just turned 22 years​ old, received your​ bachelor's degree, and accepted your first job....

You have just turned 22 years​ old, received your​ bachelor's degree, and accepted your first job. Now you must decide how much money to put into your retirement plan. The plan works as​ follows: Every dollar in the plan earns 6.7 % per year. You cannot make withdrawals until you retire on your 65th birthday. After​ that, you can make withdrawals as you see fit. You decide that you will plan to live to 100 and work until you turn 65. You estimate that to live comfortably in​ retirement, you will need $ 110 comma 000 per​ year, starting at the end of the first year of retirement and ending on your 100th birthday. You will contribute the same amount to the plan at the end of every year that you work. How much do you need to contribute each year to fund your​ retirement?

how can you solve this manually and on a financial calculator?

In: Finance

examine the effects of industrialization and globalization through an anthropologist’s lens using the concept of cultural...

examine the effects of industrialization and globalization through an anthropologist’s lens using the concept of cultural relativism. The discussion will take the form of a debate in which you will examine sweatshops as places that offer valuable opportunities to workers. In your initial post, be sure to do the following:

Explain how industrialization and globalization—including technological innovation—contribute to the existence of sweatshops.

Defend your assigned position, citing specific information from the provided resources.

Use clear statements as to how cultural relativism influences your position.

examine the effects of industrialization and globalization through an anthropologist’s lens using the concept of cultural relativism. The discussion will take the form of a debate in which you will examine sweatshops as places that offer valuable opportunities to workers. In your initial post, be sure to do the following:

Explain how industrialization and globalization—including technological innovation—contribute to the existence of sweatshops.

Defend your assigned position, citing specific information from the provided resources.

Use clear statements as to how cultural relativism influences your position.

In: Operations Management

Jamal and Nora are interested in saving money for their son's education. Today is their son's...

Jamal and Nora are interested in saving money for their son's education. Today is their
son's 8th birthday. Their son will enter college ten years from now on his 18th birthday,
and will attend college for four years. All college costs are due at the beginning of the
year, so the couple will have to make payments on their son's 18th, 19th, 20th and 21st
birthdays (t = 10, 11, 12, 13). They estimate that the college their son wants to attend will
cost $40,000 the first year (t = 10) and that the costs will increase 8 percent each year
(the final college payment will be made 13 years from now).

Currently, Jamal and Nora have $30,000 in an investment account. They also plan to
contribute a fixed amount at the end of each of the next ten years (t = 1, 2, 3, ... 10).
Their invested money will be in an account which pays 10 percent interest compounded
annually. How much money do Jamal and Nora need to contribute to the account in
each of the next ten years?

In: Finance

You have just turned 22 years old, received your bachelor's degree, and accepted your first job....

You have just turned 22 years old, received your bachelor's degree, and accepted your first job. Now you must decide how much money to put into your retirement plan. The plan works as follows: Every dollar in the plan earns 7% per year. You cannot make withdrawals until you retire on your 65th birthday. After that, you can make withdrawals as you see fit. You decide that you will plan to live to 100 and work until you turn 65. You estimate that to live comfortably in retirement, you will need $100,000 per year, starting at the end of the first year of retirement and ending on your 100th birthday. You will contribute the same amount to the plan at the end of every year that you work. How much do you need to contribute each year to fund your retirement?

Please use financial formula and solve the question, Thanks!

In: Finance

You have just turned 22 years​ old, received your​ bachelor's degree, and accepted your first job....

You have just turned 22 years​ old, received your​ bachelor's degree, and accepted your first job. Now you must decide how much money to put into your retirement plan. The plan works as​ follows: Every dollar in the plan earns 7.0% per year. You cannot make withdrawals until you retire on your 65th birthday. After​ that, you can make withdrawals as you see fit. You decide that you will plan to live to 100 and work until you turn 65.

You estimate that to live comfortably in​ retirement, you will need $100,000 per​ year, starting at the end of the first year of retirement and ending on your 100th birthday. You will contribute the same amount to the plan at the end of every year that you work. How much do you need to contribute each year to fund your​ retirement? Your annual contribution should be. (Round to the nearest​ cent.)

In: Finance

The following information concerns two different partnerships. These problems should be viewed as independent situations. (Do...

The following information concerns two different partnerships. These problems should be viewed as independent situations. (Do not round intermediate calculations.)

Part A
The partnership of Ross, Milburn, and Thomas has the following account balances:
  Cash $ 59,000    Liabilities $ 26,000
  Noncash assets 129,000    Ross, capital 92,000
   Milburn, capital (36,000 ) (deficit)
   Thomas, capital 106,000

This partnership is being liquidated. Ross and Milburn are each entitled to 40 percent of all profits and losses with the remaining 20 percent to Thomas.

a.

What is the maximum amount that Milburn might have to contribute to this partnership because of the deficit capital balance?


         

b.

To whom should the $33,000 cash that is presently available in excess of liabilities be distributed?

Ross
Thomas
Milburn
c.

If the noncash assets are sold for a total of $66,000, what is the minimum amount of cash that Thomas could receive?


          

Part B

The partnership of Sampson, Klingon, Carton, and Romulan is being liquidated. It currently holds cash of $32,000 but no other assets. Liabilities amount to $52,000. The capital balances are as follows:

  Sampson $ 32,000
  Klingon (40,000 )
  Carton 20,000
  Romulan (32,000 )

Profits and losses are allocated on the following basis: Sampson, 40 percent, Klingon, 20 percent, Carton, 20 percent, and Romulan, 20 percent.

a.

If both Klingon and Romulan are personally insolvent, how much money must Carton contribute to this partnership?


          

b-1.

If only Romulan is personally insolvent, how much money must Klingon contribute?


          

b-2. If only Romulan is personally insolvent, how will Klingon's contribution (funds) be disbursed?

          

c.

If only Klingon is personally insolvent, how much money should Sampson receive from the liquidation?


          

In: Accounting

Tokyo AFM immediately expensed incremental insurance contract acquisition costs related directly to the signing of the...

Tokyo AFM immediately expensed incremental insurance contract acquisition costs related directly to the signing of the contract. The company’s accountants argued that this treatment was required in order to be consistent with the company’s premium revenue recognition policy. For example, on June 30, 2001, a policyholder paid an up-front ¥210,000 premium for a two-year property insurance contract for her Tokyo apartment. The contract was based on a product called “Home Umbrella.” It covered a variety of casualty losses, and the company sold it exclusively to individual residential customers.

The principal incremental contract acquisition costs were:
a. A ¥50,000 commission fee paid to the agent who had worked directly with the policyholder.  The fee was due to the agent when the policyholder signed the contract and was paid immediately upon signing.
b. A ¥20,000 cost of marketing efforts incurred over the past six months to promote Home Umbrella through broad-based advertising (50%) and targeted phone calls (50%) to existing Tokyo AFM customers as part of a cross-selling strategy. The policyholder, who had just bought her apartment, was already using Tokyo AFM for her car liability insurance.

Question Would you capitalize any of the above acquisition costs, or would you expense them immediately? If you were to capitalize the costs, over what period would you amortize them?

In: Accounting

Original scenario, I am going to place you in a situation where you need to advise...

Original scenario, I am going to place you in a situation where you need to advise a client on an advertising decision and provide a rationale for your decision.

To make the best recommendation it is important to know about the industry and target demographic.  A catering company generates its revenue by making food for large events such as weddings, anniversary, birthday parties or other large gatherings.  This industry has a very specific market that they should focus their attention and budget on.  Social media is a great way to advertise any business.  The costs are low and can reach a large group of people quickly.  Users can be encouraged to like the page or share it with family and friends for a promotional discount.  This would meet the cost demand and the audience selectivity.  Utilizing a wide array of social media platforms is recommended to reach the largest audience possible.  In addition, I would recommend supplementing the social media ads with TV ads during peak party or wedding time frames like Winter and Summer.  During these time frames brides to be will be feverously searching for the best venues and catering companies for their big days.  By advertising at bridal expos and events the company will be at they can ensure they are placing themselves in the venues that the most customers will be at.  This maximizes their visibility and drives profitability.  Customers who are satisfied will also offer free advertising to others if they had a great experience on their social media pages.   

Please respond in 100-150 words

In: Economics

Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second...

Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows:

Cash $ 6,400 Accounts payable $ 9,600
Accounts receivable 32,000 Unearned revenue 3,840
Supplies 1,500 Long-term note payable 48,500
Equipment 9,500 Common stock 1,600
Land 7,400 Additional paid-in capital 7,000
Building 25,300 Retained earnings 11,560
  1. Rebuilt and delivered five pianos in January to customers who paid $19,000 in cash.
  2. Received a $600 deposit from a customer who wanted her piano rebuilt.
  3. Rented a part of the building to a bicycle repair shop; received $850 for rent in January.
  4. Received $7,200 from customers as payment on their accounts.
  5. Received an electric and gas utility bill for $400 to be paid in February.
  6. Ordered $960 in supplies.
  7. Paid $2,300 on account in January.
  8. Received from the home of Stacey Eddy, the major shareholder, a $920 tool (equipment) to use in the business in exchange for 100 shares of $1 par value stock.
  9. Paid $16,500 in wages to employees who worked in January.
  10. Declared and paid a $2,200 dividend (reduce Retained Earnings and Cash).
  11. Received and paid cash for the supplies in (f).

. Enter the following transactions for January of the second year into the T-accounts, using the letter of each transaction as the reference:

In: Accounting