Problem 3.1: Reliability. Suppose that I have the following three-step system, with the listed reliabilities:

Step 1: .60 Step 2: .90 Step 3: .80

1a) I have to run the system two times in a row, and all steps must work both times. What is its reliability?

1b) Suppose that I have the following two upgrades in mind:

Option A: The system will still work as long as it is reliable at least one of the two times.

Option B: The system must still work both times, but I’ve added a backup to Step 3 that also has reliability of 0.8.

Assume that cost is not a factor: which gives me better reliability?

(a) A gas phase reaction, ? → ? is carried out in a packed bed reactor (ID = 0.8 m) containing Al2O3 catalyst. The catalysts were of spherical shape with a diameter of 6 mm. The reactant A was diluted with inert (70% inert) and fed to the reactor at 10 atm and 200 °C. The volumetric flow rate was varied from 5 - 15 m3 /s. It was assumed that the surface reaction and the external mass transfer influenced the overall conversion in the reactor. Compare the amount of the catalyst required to achieve 50% conversion under different flow rates.

(b) Estimate the weight of the catalyst to achieve 50% conversion when the reaction was carried out at 400 °C for the feed flow rate of 5 m3 /s.

Please provide a step by step solution

Key the names in indexing order using the ARMA rules. In the upper right corner of each card, key the corresponding number for each name

1. James R. Larsen
2. Bob O’Donald
3. Helen Vandermallie
4. Martha Odell-Ryan
5. Sister Catherine
6. George Harris, Ph.D.
7. Mrs. Georgia Harris
8. Father Jenkins
9. Ty Chen
10. Martha Odellman
11. Allens Swap Shop
12. J. T. Larson
13. Herbert Vander Mallie
14. George Harris, M.D.
15. Mary Allen’s Beauty Shop
16. Marshall Field & Company
17. Georgia Harris
18. Allens’ Print Shop
19. Trans-Continent Truckers
20. George Harris
21. James Larson
22. Hubert Vander Mallie
23. George E. Harris
24. Cayuga Industries
25. North East Fuel Supply
26. AAA Batteries
27. CHAM Radio
28. Higgins Cleaners
29. Electronics Laboratory, General Electric Company
30. Niagara Office Supply
31. Over-30 Club
32. Prince Arthur’s Hair Styling
33. C & H Television Repair
34. First Baptist Church
35. Hotel Isabella

36.   James Danforth, Jr.
37. Burns Travel Agency
38. Strathcona County Water Department
39. Norton R. Henson
40. Sister Marie O’Doul
41. The Lone Ranger Riding Supplies
42. The Jefferson Party House
43. El Rancho Inn
44. Cecil Young-Jones
45. RCT Manufacturers
46. Administrative Management Society
47. Hotel Baker
48. Triple-Star Enterprises
49. Miss Robert’s Charm School
50. Acadia University, Wolfville, Nova Scotia
51. Bob Guerin
52. William T. Au
53. Thomas Kaplan, M.D.
54. Irene McGregor
55. Arthur P. Van der Linden
56. Ontario Municipal Board
57. John Wilkins Supply Corp.
58. Southwestern Distributors
59. Department of Employment and Immigration
60. Four Corners Answering Service
61. Reliable Answering Service
62. Montgomery Ward & Co.
63. South East Pipeline
64. Webbers’ Home for the Aged
65. People’s Republic of China
66. Prince Albert Printing Co.
67. The Mercantile Bank of Canada
68. Aero Bolt and Screw Co., Montreal
69. Strong Memorial Hospital
70. .Surv-Ur-Self Pastries, Inc

1) Donald rents out his vacation home for nine months and lives in his vacation home for the remainder of the year. His gross rental income for 2017 is $7,200. The expenses attributable to the vacation home for the entire year are as follows:

Real estate taxes $2,000

INterest on mortgage loan 4,000

Utilities 1,200

Repairs/maintenance 600

Depreciation 3,500

What amount would Donald report as net income or loss from the rental of the vacation home?

2) Wilson and Joan, both in their 30s, file a joint income tax return for 2017. Wilson's wages are $15,000 and Joan's wages are $23,000 for the year. Their total adjusted gross income is $38,000, and Joan is covered by a qualified pension plan at work but Wilson is not.

a) What is the maximum amount that Wilson and Joan may each deduct for contributions to thier individual retirement accounts?

Wilson $

Joan $

b) If Joan's wages are $82,000 for 2017, instead of $23,000, and thier adjusted gross income is $97,000, what is the maximum amount that Wilson and Joan may each deduct for contributions to thier individual retirement accounts?

Wilson $

Joan $

3) Hope srpings, a teacher, loaned Hugh Owens, a friend, $20,000 to invest in real estate. Hugh declared bankruptcy in 2017 and cannot repay the $20,000

a) What is the nature of Hope's loss? ( what does it called ?)

b) Assuming Hope has no other captial transactions, is there a limit on the amount she may deduct for 2017?

Explain

4) Dennis, the owner of Dennis Company, incurs the following expenses while away from home on a three-week business trip during 2017:

Air fare from Chicago to Boston $800

Hotel charges 2,200

Meal charges 880

Dry cleaning and laundry 100

Local transportation 55

Business entertainment 250

Business gift to Boston manager 55

in addition to the above expenses, Dennis incurred the following expenses for a weekend sightseeing trip to Washington D.C.:

Transportation to Washington DC $350

Hotel charges 225

Meal charges 105

Calcuate the amount Dennis may deduct for 2017 as travel expenses for the trip

[PLEASE ANSWER IN EXCEL TEMPLATE BELOW (A/B ON SEPARATE PAGES) AND SHOW FORMULAS/SOLVER INFO]

La Quinta Inn is staffing its receptionists in its biggest hotel in San Antonio. Receptionists work 6-hour shifts at the hotel lobby. There are two types of receptionists: those who speak English as a first language and those who are fully bilingual (English and Spanish). The requirements for the number of receptionists depend on the customer arrivals during various hours. The Inn believes that the need for receptionists between the hours of 7 A.M. and 10 P.M. are as follows:

Receptionists begin work either at 7 A.M., 10 A.M., 1 P.M., or 4 P.M. At least half of the receptionists needed in any time period should speak English as the first language. Further, at least one-quarter of the receptionists needed in any time period should be fully bilingual.

A) How many and what type of receptionists should be hired for each shift to meet the language and staffing requirements, so that the total number of receptionists is minimized?

B) What is the optimal hiring plan from a cost perspective if English-speaking receptionists are paid $30 per hour and bilingual receptionists are paid $35 per hour?

Coastline Community College

Acct C103, Individual Taxation

Summer 2018

Tax Year 2017 Form 1040 Tax Return Project

Based upon Bill and Susan Minor’s information below, complete a Form 1040 for Tax Year 2017.

You will receive 10 points for each correct figure you list on Lines 7, 8a, 12, 21, 37, 40, 42, 43, 63, and 64.Email your completed Form 1040 to me by August 15, 2018.

-In 2017, Bill and Susan Minor had W-2 Wages totaling $99,000, Federal Tax Withheld of $9,000, and State Tax Withheld of $4,000.

-In 2017, Bill and Susan both had health insurance for the entire year through their employers which met the Minimum Essential Coverage requirements under the Affordable Care Act.

-Bill is an auditor at a hotel and Susan is a high school business teacher.

-Bill and Susan will file Married Filing Joint in 2017.

-In 2017, Bill received interest income of $250 from his 1^st Bank of the Third Best Account.He also cashed in a Certificate of Deposit early and the bank assessed a $25 penalty for early withdrawal of savings.

-In 2017, Bill and Susan spent $3,700 making repairs on their home.The repairs included work on their garage door, replacement of the kitchen flooring, and refurbishing their electrical breaker box.

-The Minor’s took the Standard Deduction on their Form 1040 Tax Return in 2016.They don’t know if they can take the Standard Deduction or not in 2017.They want to take the largest deduction they can in 2017, whether that be the Standard Deduction OR the Itemized Deduction.

-In 2017, Susan received a $6,000 inheritance from the estate of her great-great-grandmother.

-Susan and Bill are both 50 years old and neither one is blind or disabled.

-Their grown children are Porsche and Carmen.The kids are out of the house and have their own jobs and apartments.Porsche, who made $96,000 in 2017, is a poor money manager and Bill gave her $3,800 in 2017.

-In 2017, Susan sent her Mom $1,500 to help her Mom buy medication and medical devices.Susan does not and cannot claim her Mom as a Dependency Exemption.

-The Minor’s took fencing lessons in 2017 that cost $2,400.They said these lessons help them “unwind” after a busy workday. Susan liked fencing so much she bought a foil, epee, and saber costing $2,200.A day after buying the fencing equipment, a thief broke into Susan’s fencing locker at the fencing center and stole the foil and saber worth $1,800.Susan filed a police report, had no insurance on the foil and saber, and the property was not recovered.

-In 2017, Susan paid $850 in union dues to the El Camino Real Teachers, Educators, and Mentors Union.

-Bill owed the IRS $4,600 from his 2015 Federal Income Tax Return.He is paying $212 a month on this debt.In 2017, Bill calculated he paid $2,344 in tax and $200 in interest to the IRS.

-Susan helped her friend start a business.The friend plans on paying Susan $4,950 for all the work

she did.This payment will be made in December 2018.

-Susan decided in 2017 to become a self-employed tutor/teacher.She taught 2 kids business planning and

was paid $400.Her ONLY business expenses as a self-employed tutor/teacher were $50 for business cards and $75 for paper, pencils, and supplies.Susan also tells you she paid “Mystic Maria the World’s   7^th Best and Inexpensive Fortune Teller” $540 to predict Susan’s success.Maria reported that Susan would be wildly successful in her tutoring/teaching business and would gross approximately $500 in 2018.

-In 2017, Bill and Susan owned a rental property and calculated Total Rental Real Estate Income on Line 26, Schedule E, of $6,820.

-In 2017, Bill won a $470 cash prize for a contest he entered.Bill said he did NOT get a W-2 or a Form 1099 for the $470 he won.

-The Minor’s received a State Tax Refund of $630 in April 2017 from the State of California.This refund was for Tax Year 2016.

-Bill stated he contributed $2,000 to his Roth IRA in 2017.

-Bill and Susan are members of their local Elks Lodge, which is a non-profit organization, involved in charitable work, and a Qualifying Charitable Organization.The Minor’s pay $140 a year for dues and their only activity with the Elks is going to eat Sunday breakfast, attending dances, and buying drinks at the bar.

-The Minor’s paid $9,850 in Home Mortgage Interest in 2017.They paid a property tax bill of $3,700 in 2017.

-In 2017, Bill drove his personal auto 3,900 miles as a volunteer meal deliverer for Let’s Feed All of the Hungry, a Qualifying Charitable Organization.   

-In 2017, Bill donated 150 hours of time to Goodwill, a Qualifying Charitable Organization. He figures his time is worth $40 an hour.

-Susan has AB- blood type. When the Red Cross Bloodmobile stops by her work, Susan donated blood. In 2017, she donated 6 pints of blood. The local hospital charges $300 a pint for patients who receive AB- Blood.

-In 2017, Bill incurred $2,900 in gambling losses at Lost Wages Casino. In 2017, he won $4,100 in the California Super Big Lotto.

-Bill and Susan calculated they had 6,000 commuting miles to their W-2 jobs in 2017.

-The Minor’s donated $1,600 to Let’s Feed the Whales and Save the Children Fund in 2017. Bill’s friend Dante said the fund was is a scam. Bill went on the IRS Website and found that the fund was a Qualifying Charitable Organization.

- In 2017, Susan sold stock she had in The Coffee Grind Company. Susan’s friend, Alma Cabrera, an Enrolled Agent, and calculated that Susan had a Short-Term Capital Gain of $5,300 from the sale of the stock.

-In 2017, Susan decided to run for the city council. She paid a $255 filing fee and borrowed $15,000 from the local bank to finance her campaign. Susan lost the election.

-In 2017, Bill and Susan paid homeowner’s association dues of $1,400 on their personal residence.

-In 2017, Bill paid a dental bill of $7,500 for removal of 16 of his bad teeth and the filling of 16 of his other teeth.

In 2017, Bill paid $580 for DMV registration fees for his 2002 Chevy S-10 Pickup Truck and Susan’s 2007 Yaris. Bill has determined these DMV fees are deductible on a Schedule A.

In 2017, Susan’s sister, who is a well-known, successful, and highly paid entertainer, gave Susan a Tesla Model S Automobile with a Fair Market Value of $80,000. Susan uses the car to commute to her job and paid $900 in DMV registration fees that she has determined are deductible on a Schedule A.

In 2017, Bill was ticketed for driving his car without a valid registration and no proof of insurance. He paid a fine of $350, which included court costs.

-In 2017, Susan found a gold and diamond ring near hear house. She turned it into the police department and after 30 days, the police gave the property back to Susan since no one claimed it. In November 2017, Susan had the ring appraised and found out the fair market value of this found property was $6,200.

-In 2017, Susan paid a researcher $300 to trace her family history. The researcher reported to Susan she may be the rightful owner of a small farm in Germany worth $1,000,000. Susan has made plans to see if she owns the land, she has set aside $2,500 in a savings account for a title and legal search, and she will hire an attorney in December 2018 to determine her ownership rights.

QUESTION 6

1. Master Limited has the following items in its statement of profit or loss and other comprehensive income for the year ended 30 June 2017:

   Revenue	FC*130,000
   Cost of goods sold	FC45,000
   Other expenses	FC14,000
   Income tax expense	FC12,000

   
   *FC = Foreign Currency.

   All items were earned and incurred evenly across the year. The following exchange rates applied:

   End of reporting period FC1 = $1.44

   Average rate for year                FC1 = $1.42

   The net profit after tax translated into the presentation currency is:

   		$41,549.
   		$40,972.
   		$83,780.
   		$84,940.

0.2 points   

QUESTION 7

1. Banjo Ltd acquired 100% of Wellington Ltd on 1 July 2018. The balance sheet of Wellington Ltd on that date was as follows:

   Balance sheet at 1 July 2018
   		NZ$				NZ$
   Machinery at cost		560,000		Share capital		400,000
   Investment property		400,000		General reserve		200,000
   Receivables		100,000		Retained earnings		600,000
   Cash		140,000				1,200,000
   		1,200,000

   
   The balance sheet of Wellington Ltd as at 30 June 2019 is as follows:

   Balance sheet as at 30 June 2019

   		NZ$				NZ$
   Machinery — carrying value		300,000		Share capital		400,000
   Investment property		400,000		General Reserve		200,000
   Receivables		500,000		Retained earnings		1,000,000
   Cash		600,000		Accounts payable		170,000
   				Income tax payable		30,000
   		1,800,000				1,800,000

   
   Relevant exchange rates are as follows:

   		NZ$		A$
   1 July 2018		1.00	=	0.95
   30 June 2019		1.00	=	0.85
   Average 2018-19		1.00	=	0.90

   If the functional currency of Wellington Ltd is New Zealand dollars and the presentation currency is Australian dollars the total assets of NZ$1,800 000 would translate into Australian dollars as:

   		$1,560,000
   		$1,710,000
   		$1,620,000
   		$1,530,000

0.2 points   

QUESTION 8

1. Alpine Limited has the following items in its statement of profit or loss and other comprehensive income:

   	NZ$
   Revenue	140,000
   Cost of goods sold	85,000
   Interest expense	14,000
   Income tax expense	12,000

   
   All items arose evenly across the year. The following exchange rates applied:
   
   End of reporting period    NZ$1.00 = A$0.90
   Average rate for year NZ$1.00 = A$0.85
   
   The net profit after tax translated into the presentation currency of A$ is:

   		$34,118.
   		$46,750.
   		$24,650.
   		$26,100.

0.2 points   

QUESTION 9

1. Which of the following statements is incorrect?

   		Movements in the foreign currency translation reserve must be disclosed.
   		Exchanges differences included in profit or loss must be disclosed.
   		There is no need to disclose if the presentation currency is different from the functional currency.
   		AASB121/ IAS 21 The Effects of Changes in Foreign Exchange Rates requires disclosures about the translation of financial statements into other currencies.

0.2 points   

QUESTION 10

1. Under AASB 121 The Effects of Changes in Foreign Exchange Rates, an entity must disclose which of the following items in particular?
   
   I. The amount of exchange differences included in profit or loss of the period.
   II. The amount of the exchange difference included directly in share capital during the period.
   III. Whether a change in the functional currency has occurred.
   IV. The reason for using a presentation currency that is different from the functional currency.

   		II and III only.
   		I, II, III and IV.
   		I, III and IV only.
   		I and IV only.

To properly treat patients, drugs prescribed by physicians must have a potency that is accurately defined. Consequently, not only must the distribution of potency values for shipments of a drug have a mean value as specified on the drug's container, but also the variation in potency must be small. Otherwise, pharmacists would be distributing drug prescriptions that could be harmfully potent or have a low potency and be ineffective. A drug manufacturer claims that its drug is marketed with a potency of 5 ± 0.1 milligram per cubic centimetre (mg/cc). A random sample of four containers gave potency readings equal to 4.93, 5.08, 5.03, and 4.89 mg/cc.

(a) Do the data present sufficient evidence to indicate that the mean potency differs from 5 mg/cc? (Use α = 0.05. Round your answers to three decimal places.)

1-2. Null and alternative hypotheses:

H₀: μ = 5 versus H_a: μ < 5H₀: μ ≠ 5 versus H_a: μ = 5    H₀: μ = 5 versus H_a: μ > 5H₀: μ < 5 versus H_a: μ > 5H₀: μ = 5 versus H_a: μ ≠ 5

3. Test statistic:    t =  

4. Rejection region: If the test is one-tailed, enter NONE for the unused region.

5. Conclusion:

H₀ is not rejected. There is insufficient evidence to indicate that the mean potency differs from 5 mg/cc.H₀ is not rejected. There is sufficient evidence to indicate that the mean potency differs from 5 mg/cc.    H₀ is rejected. There is sufficient evidence to indicate that the mean potency differs from 5 mg/cc.H₀ is rejected. There is insufficient evidence to indicate that the mean potency differs from 5 mg/cc.

(b) Do the data present sufficient evidence to indicate that the variation in potency differs from the error limits specified by the manufacturer? (HINT: It is sometimes difficult to determine exactly what is meant by limits on potency as specified by a manufacturer. Since it implies that the potency values will fall into the interval 5.0 ± 0.1 mg/cc with very high probability—the implication is always—let us assume that the range 0.2; or (4.9 to 5.1), represents 6σ, as suggested by the Empirical Rule. Note that letting the range equal 6σ rather than 4σ places a stringent interpretation on the manufacturer's claim. We want the potency to fall into the interval

5.0 ± 0.1

with very high probability.) (Use α = 0.05. Round your answers to three decimal places.)

1-2. Null and alternative hypotheses:

H₀: σ² = 0.0011 versus H_a: σ² < 0.0011H₀: σ² > 0.0011 versus H_a: σ² < 0.0011    H₀: σ² = 0.2 versus H_a: σ² ≠ 0.2H₀: σ² = 0.0011 versus H_a: σ² > 0.0011H₀: σ² = 0.2 versus H_a: σ² > 0.2

3. Test statistic:    χ² =  

4. Rejection region: If the test is one-tailed, enter NONE for the unused region.

5. Conclusion:

H₀ is rejected. There is insufficient evidence to indicate that the variation in potency differs from the specified error limits.H₀ is rejected. There is sufficient evidence to indicate that the variation in potency differs from the specified error limits.    H₀ is not rejected. There is insufficient evidence to indicate that the variation in potency differs from the specified error limits.H₀ is not rejected. There is sufficient evidence to indicate that the variation in potency differs from the specified error limits.

a case study with research

San Pico is a rapidly growing Latin American developing country. The country is blessed with miles of scenic beaches that have attracted tourists by the thousands in recent years to new resort hotels financed by joint ventures of San Pico businessmen and moneymen from the Middle East, Japan, and the United States. Additionally, San Pico has good natural harbors that are conducive for receiving imported merchandise from abroad and exporting merchandise produced in San Pico and other surrounding countries that lack access to the sea. Because of these advantages, many new businesses are being started in San Pico.

Presently, stock is traded in a cramped building in La Cobijio, the nation’s capital. Admittedly, the San Pico Stock Exchange system is rather archaic. Twice a day an official of the exchange will call out the name of each of the 43 companies whose stock trades on the exchange. Brokers wanting to buy or sell shares for their clients then attempt to make a trade with one another. This crowd trading system has worked well for over one hundred years, but the government desires to replace it with a new modern system that will allow greater and more frequent opportunities for trading in each company, and will allow for trading the shares of the many new start-up companies that are expected to trade in the secondary market. Additionally, the government administration is rapidly privatizing many state-owned businesses in an attempt to foster their efficiency, obtain foreign exchange from the sale, and convert the country to a more capitalist economy. The government believes that it could conduct this privatization faster and perhaps at more attractive prices if it had a modern stock exchange facility where the shares of the newly privatized companies will eventually trade.

You are an expert in the operation of secondary stock markets and have been retained as a consultant to the San Pico Stock Exchange to offer your expertise in modernizing the stock market.

Should they implement a modernized floor (outcry) and automated trading system such as the New York Stock Exchange? Provide an explanation as to how this would be feasible or not.

Would a system such as the NASDAQ be more beneficial considering the size of the country? Explain.

Explain the significant role played by the new exchange in facilitating capital market activity.

Explain why in its present state the exchange may or may not promote requisite liquidity and its significance.

Briefly discuss a regulatory framework needed to assure market integrity.

Discuss potential listing requirements.

How would the exchange serve as a barometer of economic activity?