PLEASE NOTE: THE QUESTION HAS BEEN POSTED BEFORE. I WOULD LIKE A FRESH TAKE ON IT AS THE PREVIOUS ANSWER WAS NOT CLEAR ENOUGH. HERE IS THE QUESTION:

Give an example to explain why a US company might wish to enter into a fixed rate currency swap, paying Euros and receiving fixed- rate Sterling.

State University employs a large number of graduate students to work as teaching assistants. The teaching assistants often complain about their work. They feel that faculty and administrators demand too much. A common complaint is their low wages. The graduate students frequently point out that they do much the same work as faculty members, yet they receive only a very small percentage of the pay that faculty members receive. They also claim that faculty members frequently treat them unfairly. Teaching assistants are often asked to do large amounts of grading in very short time periods. Many also feel that faculty members are not very good at communicating expectations.

In response to the dissatisfaction of the teaching assistants, a local union representing public workers has begun efforts to organize a labor union. Union representatives have obtained campaign card signatures from 40 percent of the teaching assistants. An election is scheduled for next month. Union representatives have been busy making a case that the union can help ensure that teaching assistants are treated more fairly. They have publicized statistics showing that unionized workers make significantly more than nonunionized workers. University administrators have decided not to actively oppose union organization. They have simply stated that it is important for teaching assistants to have the opportunity to decide whether they should be represented by a labor union.

Some faculty members are sympathetic to the concerns voiced by graduate students. They publicly state their concern that wages are too low. They also express frustration when they see some of their colleagues take advantage of students by assigning them large amounts of work to complete in short time periods. Other faculty members are less sympathetic. These professors talk about how they were treated even worse when they were graduate assistants. They seem to find joy in looking back and telling war stories about “the old days.” They seem to think that working hard for little pay is a right of passage that helps prepare students for future careers. Overall, the faculty at State University thus seems to be about evenly split in their support for student efforts to unionize.

A majority of the undergraduate students at State University don't seem to know anything about the unionization efforts. A few politically active students have joined public rallies supporting the unionization efforts. Others seem to have used the unionization issue to complain about the quality of teaching provided by graduate students. These students recently met with administrators to complain about having too many graduate students as instructors. Just last week the local newspaper printed an article detailing some of the problems experienced when courses are taught by graduate students.

As a community, State University thus seems to be quite divided over the unionization issue. No matter who prevails in the election, it seems likely that a large number of people will be unhappy with the result.

Question:

Do you think a union would help resolve the complaints of the teaching assistants?

What makes the position of teaching assistant different from many jobs frequently represented by unions?

Do you think the administration's response is appropriate?

If you were a graduate student at State University, would you vote for the union? Why?

The following information applies to the questions displayed below.] The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2020. Account Title Debits Credits Cash 5,000 Accounts receivable 2,000 Inventory 5,000 Equipment 11,000 Accumulated depreciation 3,500 Accounts payable 3,000 Common stock 10,000 Retained earnings 6,500 Sales revenue 0 Cost of goods sold 0 Salaries expense 0 Rent expense 0 Advertising expense 0 Totals 23,000 23,000

The following transactions occurred during January 2021: Jan. 1 Sold merchandise for cash, $3,500. The cost of the merchandise was $2,000. The company uses the perpetual inventory system. 2 Purchased equipment on account for $5,500 from the Strong Company. 4 Received a $150 invoice from the local newspaper requesting payment for an advertisement that Whitlow placed in the paper on January 2. 8 Sold merchandise on account for $5,000. The cost of the merchandise was $2,800. 10 Purchased merchandise on account for $9,500. 13 Purchased equipment for cash, $800. 16 Paid the entire amount due to the Strong Company. 18 Received $4,000 from customers on account. 20 Paid $800 to the owner of the building for January's rent. 30 Paid employees $3,000 for salaries for the month of January. 31 Paid a cash dividend of $1,000 to shareholders.

The following information applies to the questions displayed below.] The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31, 2020. Account Title Debits Credits Cash 5,000 Accounts receivable 2,000 Inventory 5,000 Equipment 11,000 Accumulated depreciation 3,500 Accounts payable 3,000 Common stock 10,000 Retained earnings 6,500 Sales revenue 0 Cost of goods sold 0 Salaries expense 0 Rent expense 0 Advertising expense 0 Totals 23,000 23,000

The following transactions occurred during January 2021: Jan. 1 Sold merchandise for cash, $3,500. The cost of the merchandise was $2,000. The company uses the perpetual inventory system. 2 Purchased equipment on account for $5,500 from the Strong Company. 4 Received a $150 invoice from the local newspaper requesting payment for an advertisement that Whitlow placed in the paper on January 2. 8 Sold merchandise on account for $5,000. The cost of the merchandise was $2,800. 10 Purchased merchandise on account for $9,500. 13 Purchased equipment for cash, $800. 16 Paid the entire amount due to the Strong Company. 18 Received $4,000 from customers on account. 20 Paid $800 to the owner of the building for January's rent. 30 Paid employees $3,000 for salaries for the month of January. 31 Paid a cash dividend of $1,000 to shareholders.

The University of Pittsburgh Medical (UPMS) School grades each class in the following manner:

All students whose score is plus or minus two standard deviations from the mean course score receive a grade of “Pass.”

Students whose score is above two standard deviations from the course mean receive a grade of “Pass with Distinction.”

And, students whose score is below two standard deviations from the course mean receive a grade of “Fail.” Course scores are always assumed to be normally distributed.

Approximately what percentage of medical students in each class receives a “Pass with Distinction”?

Please refer to the USA. irs.gov for any refernce

Form 1040. William A. Gregg, a high school educator, and Mary W. Gregg, a microbiologist, are married and file a joint income tax return for 2019. Neither William nor Mary is over 50 years old, and both have excellent sight. They provide the sole support of their three children: Barry, Kimberly, and Rachel (all under age 17). The following information is from their records for 2019:

salaries and wages, William. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54,000

Federal income tax withheld. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,000
Salaries and wages, Mary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60,000

Federal income tax withheld. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000
Interest income—Home Savings and Loan. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 690

Interest income—City Bank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 220

Tax-exempt interest income—State of Texas Bonds . . . . . . . . . . . . . . . . . . . . . . 1,400
Itemized deductions as follows:

Hospitalization insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 320
Unreimbursed fees of doctors, hospitals, etc. . . . . . . . . . . . . . . . . . . . . . . . . 740

Unreimbursed prescription drugs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 310
Real estate taxes on residence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,300

State income taxes paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,700
State sales taxes paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 720

Interest paid on original home mortgage . . . . . . . . . . . . . . . . . . . . . . . . . . . .18,430
Charitable contribution—Faith Church. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,000

Charitable contribution—State University. . . . . . . . . . . . . . . . . . . . . . . . . . . .200
Quarterly estimated federal taxes paid. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,500

Calculate the 2019 Federal income tax and the tax due (or refund) for the Greggs assuming they file a joint return. Form 1040, along with Schedules A and B, may be completed. Supply fictitious information for the address and Social Security numbers. (Note: Use 2019 tax forms since the 2020 forms may not be available.)

The will of the Nguyen family patriarch established the Nguyen Family Trust after his death in 2018. In financial year 2019-20 the trust carried on a number of income earning activities. These included running a trading business with sales of $100,000 and allowable deductions of $30,000 as well as leasing an office in Singapore which provided $35,000 in rent. The trust incurred $5,000 in deductible expenses and investment income from Australian shares for which it received $7,000 in fully franked dividends. There are three (3) beneficiaries of the trust and all are Australian resident individuals:

• Duc (the father) aged 45 – who is to be paid 25% of the net income of the trust

• Hue (the mother) aged 42 – who is also to be paid 25% of the net income of the trust

• An (the son) aged 17 – who is to have the balance of the trust income accumulated for his benefit and distributed to him if he attains 25 years of age – subject to the trustee being able to pay, in its absolute discretion, such amounts as it deems fit for An’s education, maintenance and advancement in life.

In accordance with the terms of the trust, on 30 June 2020 the trustee distributes the net income of the trust 25% each to Duc and Hue. Duc is an undischarged bankrupt and has other income of $30,000. Hue has no income. During the tax year the trust paid An’s university fees of $10,000 and provided him with a living allowance of $8,000.

a) Calculate the net income of the trust

b) Explain who will pay the tax on the net income of the trust, on what basis and at what rates.