Company projects the following sales for the first three months of the year: $15,800 in January; $12,200 in February; and $11,100 in March. The company expects 80%of the sales to be cash and the remainder on account. Sales on account are collected 50% in the month of the sale and 50% in the following month. The Accounts Receivable account has a zero balance on January 1. Round to the nearest dollar. Prepare a revised schedule of cash receipts if receipts from sales on account are 70%in the month of the sale, 20% in the month following the sale, and 10% in the second month following the sale. What is the balance in Accounts Receivable on March 31? (Leave unused and zero balance account cells blank, do not enter "0".)

Mr. Smith is a resident of the UK. Last year he sold an apartment in Germany. According to the DTC between UK and Germany income derived from immovable property is taxable in the Contracting State in which the property is situated (Article 6). Besides this, Article 13(1) of the same DTC provides that gains arising on the disposal of immovable property are taxable in the Contracting State in which the property is situated. Finally, Article 23 of the tax treaty regarding the exemption method provides as follows:

‘a) Income and property other than that referred to below in point (b) of this paragraph shall be exempt from the UK taxes referred to in Article 2(3)(b), where that income or property may be taxed in Germany under this convention.

b) Notwithstanding the provisions of points (a) and (b) of this paragraph, UK tax on the part of income which is taxable in UK under this convention may be calculated at the rate of tax corresponding to the total amount of taxable income in accordance with UK tax legislation’.

Due to the sale of the apartment, Mr. Smith acknowledged a loss of 500 000 EUR in his income tax return. He stressed that he did not have any income in Germany form which he could deduct the loss. However, in the UK he had capital gains from the sale of shares of 1.000 000 EUR. The UK Tax Agency did not allow him to deduct the losses, which he sustained on the sale of immovable property in Germany from the income charged to tax in the UK.

What are the arguments of each party to support their position?

Linda's salary is $43000 a year. As a part of it's incentive program the company decides to give her a raise of $2000 every year. What is the discounted value of her income for the next 11 years at j₁=6%? *do not round intermediate steps*

A certain homeowner's insurance bill is $1,200 this year. Insurance rates are expected to increase at a rate of 7% per year for the next 10 years. If interest is 10% the equivalent uniform annual insurance bill over the 11-year period (i.e.,on payment now and 10 future payments) is closest to....

a) $9,633

b) $1,572

c) $1,488

d) $6,000

e) $5,121

f) $4,736

g) $1,494

h) $9,112

I) $1,818

j) $2,033

k) $1,616

The price of a car you are interested in buying is $93.45k. You negotiate a 6-year loan, with no money down and no monthly payments during the first year. After the first year, you will pay $1.23k per month for the following 5 years, with a balloon payment at the end to cover the remaining principal on the loan. The annual percentage rate (APR) on the loan with monthly compounding is 5%. What will be the amount of the balloon payment 6 years from now?

Note: The term “k” is used to represent thousands (× $1,000).

Required: Suppose the loan has initially been paid in full (without a balance due at maturity), the amount would have totaled $37k. Calculate the absolute percentage difference between the fully amortized loan and the balloon payment.

What is the value today of $1,800 per year, at a discount rate of 8 percent, if the first payment is received 4 years from now and the last payment is received 25 years from today?

At the end of last year, Edwin Inc. reported the following income statement (in millions of dollars):

Looking ahead to the following year, the company's CFO has assembled this information:

• Year-end sales are expected to be 6% higher than $4.19 billion in sales generated last year.
• Year-end operating costs, excluding depreciation, are expected to increase at the same rates as sales.
• Depreciation costs are expected to increase at the same rate as sales.
• Interest costs are expected to remain unchanged.
• The tax rate is expected to remain at 25%.

On the basis of this information, what will be the forecast for Edwin's year-end net income? Enter your answers as positive values. Enter your answers in millions. For example, an answer of $10,550,000 should be entered as 10.55. Round your answers to two decimal places.

1. In the 2020 accounting year,
   1. The board of directors of some manufacturing and services companies decided to pay stock dividends instead of cash dividends.
   2. On the other hand, the board of directors of majority of companies within the ICT industry decided to pay special cash dividends.
   3. It was also observed that some the management of some companies had decided to repurchase shares while others were engaging in stock splits.
      1. What could be the reason for these decisions and choice of dividend payments by the boards of these companies?
      2. What do you think will be the effect of such decisions on the outstanding number of shares and the share prices of these companies?

LN Consulting is a calendar year, cash basis unincorporated business. The business is not required to provide audited financial statements to any external user. LN's accounting records show the following:

Cash receipts:   

Revenues from service contracts $292,000

Proceeds from sale of mutual fund shares 18,000

Insurance reimbursement for fire loss 7,000

Cash disbursements:   

Administrative salaries $32,000

Professional fees 800

Business meals 1,090

Business entertainment costs 2,000

State and local business taxes 5,000

Interest expense 7,600

Advertising 970

Office expense 1,200

Office rent 14,400

New office equipment 8,300

LN's records reveal the following facts:

• In December, the bookkeeper prepaid $1,500 interest on a business debt. This interest is related to the next taxable year.
• LN disposed of two assets during the year. It exchanged computer equipment for office furniture. (These assets are not like-kind for federal tax purposes.) The original cost of the computer equipment was $13,000, and accumulated MACRS depreciation through date of exchange was $9,700. The office furniture has a $6,000 FMV. It sold 1,200 shares in a mutual fund for $18,000. LN purchased the shares as a short-term investment of excess working capital. The cost of the shares was $16,600.
• An electrical fire completely destroyed a company car. The adjusted basis of the car was $9,100, and LN's property insurance company paid $7,000 in complete settlement of its damage claim. LN used the insurance money to pay various operating expenses.
• MACRS depreciation for assets placed in service in prior years (including the computer equipment and company car) is $4,600. The only asset acquired this year (in addition to the office furniture) was office equipment costing $8,300. The equipment was placed in service on August 19.

On the basis of these facts, compute the taxable income generated by LN Consulting's activities, before any 20 percent (QBI) deduction that might be available to LN's owners.