Jim is a single dad who lives with and provides 100% of the financial support for his three children. Jim's children were 10, 14 and 19 as of the last day of 2015.

Jim's Adjusted Gross Income (AGI) is $96,000 for the year 2015.

How much Child Credit will Jim get on his 2015 tax return?

A. 1050

B. 950

C. 2000

D. 850

2. An investment requires an initial capital outlay of $12,000. The investment is expected to generate future cash flows of $1,000 one year hence, $2000 two years hence, $3,000 three years hence, $4,000 four years hence, $5,000 five years hence. Assume a 10% cost of capital.

This is the homework question but I think its asking for net present value?

Daniel B. Butler and Freida C. Butler, husband and wife, file a joint return. The Butlers live at 625 Oak Street in Corbin, KY 40701. Dan's Social Security number is 111-11-1112, and Freida's is 123-45-6780. Dan was born on January 15, 1967, and Freida was born on August 20, 1968.

During 2018, Dan and Freida furnished over half of the total support of each of the following individuals, all of whom still live at home:

1. Gina, their daughter, age 22, a full-time student, who married on December 21, 2018, has no income of her own and for 2018 did not file a joint return with her husband, Casey, who earned $10,600 during 2018. Gina's Social Security number is 123-45-6788.
2. Willie, their son, age 20, who had gross income of $6,300 in 2018, dropped out of college in October 2018. He had graduated from high school in May 2018. Willie's Social Security number is 123-45-6787.
3. Ben, their oldest son, age 26, is a full-time graduate student with gross income of $5,200. Ben's Social Security number is 123-45-6786.

Dan was employed as a manager by WJJJ, Inc. (employer identification number 11-1111111, 604 Franklin Street, Corbin, KY 40702), and Freida was employed as a salesperson for Corbin Realty, Inc. (employer identification number 98-7654321, 899 Central Street, Corbin, Ky 40701). Selected information from the W–2 Forms provided by the employers is presented below. Dan and Freida use the cash method.

Freida sold a house on December 30, 2018, and will be paid a commission of $3,100 (not included in the $86,000 reported on the W–2) on the January 10, 2019, closing date.

Other income (as reported on 1099 Forms) for 2018 consisted of the following:

The $382 from First Bank was original issue discount. Dan and Freida collected $16,000 on the First Bank CD that matured on September 30, 2018. The CD was purchased on October 1, 2016, for $14,995, and the yield to maturity was 3.3%.

Dan participated on a game show and won a cash prize of $7,000.

In addition to the above information, Dan and Freida's itemized deductions included the following:

Sales tax from the sales tax table is $1,860. Dan and Freida made Federal estimated tax payments of $8,000. All members of the family had health insurance coverage for all of 2018. Dan and Freida do not wish to contribute to the Presidential Election Campaign. The Kentucky income tax rate is 4%.

Required:

Compute Dan and Freida’s 2018 Federal income tax payable (or refund due). Use Form 1040 and Schedules 1, 5, B, E and the Qualified Dividends and Capital Gain Tax Worksheet to complete this tax return. If there is a tax overpayment, the Butlers would like a refund. If additional tax is due, assume no underpayment penalty applies.

It may be necessary to complete the tax schedules before completing Form 1040.

Bug-Off Exterminators provides pest control services and sells extermination products manufactured by other companies. The following six-column table contains the company’s unadjusted trial balance as of December 31, 2018.

The following information in a through h applies to the company at the end of the current year.

a. The bank reconciliation as of December 31, 2018, includes the following facts.

Reported on the bank statement is a canceled check that the company failed to record. (Information from the bank reconciliation allows you to determine the amount of this check, which is a payment on an account payable.)

b. An examination of customers’ accounts shows that accounts totaling $679 should be written off as uncollectible. Using an aging of receivables, the company determines that the ending balance of the Allowance for Doubtful Accounts should be $700.

c. A truck is purchased and placed in service on January 1, 2018. Its cost is being depreciated with the straight-line method using the following facts and estimates.

d. Two items of equipment (a sprayer and an injector) were purchased and put into service in early January 2016. They are being depreciated with the straight-line method using these facts and estimates.

e. On August 1, 2018, the company is paid $3,840 cash in advance to provide monthly service for an apartment complex for one year. The company began providing the services in August. When the cash was received, the full amount was credited to the Extermination Services Revenue account.

f. The company offers a warranty for the services it sells. The expected cost of providing warranty service is 2.5% of the extermination services revenue of $42,760 for 2018. No warranty expense has been recorded for 2018. All costs of servicing warranties in 2018 were properly debited to the Estimated Warranty Liability account.

g. The $15,000 long-term note is an 8%, five-year, interest-bearing note with interest payable annually on December 31. The note was signed with First National Bank on December 31, 2018.

h. The ending inventory of merchandise is counted and determined to have a cost of $11,700. Bug-Off uses a perpetual inventory system.

(Need answers for the following)

4-a. Prepare a single-step income statement for year 2018.

4-b. Prepare a statement of retained earnings (cash dividends during 2018 were $10,000) for year 2018.

4-c. Prepare a classified balance sheet as at 2018

Retrieve the Form 10-K for Papa John’s International for the year ending December 31, 2017. Papa John’s Form 10-K can be accessed through the SEC EDGAR database at https://www.sec.gov/Archives/edgar/data/901491/000155837018001176/pzza-20171231x10k.htm#Item2Properties_626380

Hints: You will need to search the financial statement footnotes to find some of the information. Also, the financial statements are in thousands, except for per share amounts. If a number is in thousands, please indicate this by writing out the full number or writing ‘(in thousands)’. Furthermore, you will not need the information before page 52 in Papa John’s Form 10-K.

1. As of December 31, 2017, what is Papa John’s allowance for doubtful accounts on its accounts receivable? On its notes receivable?

2. What is Papa John’s Goodwill at December 31, 2017?

3. Did Papa John’s current assets increase or decrease for 2017? By how much?

4. What inventory valuation method(s) (FIFO, LIFO, average cost, specific identification) does Papa John’s use?

5. What are the estimated useful lives that Papa John’s uses to depreciate its property and equipment? List the type of property and equipment and its estimated useful life.

6. As of December 31, 2017, what are Papa John’s future expected gross lease costs for each of the following time periods: 2018, 2019, 2020, 2021, 2022, and thereafter?

7. List the individual items and corresponding amounts that are included in Papa John’s Other Long-Term Liabilities at December 31, 2017.

8. How many shares of stock are a part of Papa John’s Treasury Stock at December 31, 2017?

9. What are Papa Johns’ income and other taxes payable at December 31, 2017?

10. Was the auditor’s opinion on Papa John’s financial statements unqualified, qualified, adverse, or a disclaimer?

On January 1, 2018, an investor paid $299,000 for bonds with a face amount of $355,000. The stated rate of interest is 9% while the current market rate of interest is 11%. Using the effective interest method, how much interest income is recognized by the investor in 2018 (assume annual interest payments and amortization)?

Towson Manufacturing had a Work in Process balance of $70,000 on January 1, 2018. The year end balance of Work in Process was $108,000 and the Cost of Goods Manufactured was $800,000. Use this information to determine the total manufacturing costs incurred during the fiscal year 2018. (Round enter as whole dollars only.)

1. company: AGL energy. prepare a presentation to the CEO of the organisation (AGL Energy) discussing i) the limits of the 2018 IFRS Conceptual Framework and ii) how the integrated reporting/sustainability report addresses some of the limits of the 2018 IFRS Conceptual Framework by providing relevant examples from the organisation you selected.