The following information applies to Tammy Taxpayer, employed by Time Travellers Ltd. (a Canadian Controlled Private Corporation).

Gross salary $110,000

Bonus. 50,000

Bonus based on Tammy's hard work negotiating contracts on behalf of the company (of which $15,000 was received on December 25, 2019 and the remainder will be received on January 15, 2020)                    

During 2019, Time Travellers withheld the following amounts from her gross salary:

Registered Pension Plan. $6,000

Charitable Donations - United Way. 2,000

Federal and Provincial Income Taxes. 28,750

• Tammy's employer made a $6,000 matching contribution to her registered pension plan.

• Travelling expenses for a 3 week trip for Tammy were reimbursed by Time Traveller. The cost of the entire trip was $3,000. Tammy spend one week attending a business conference and the other two weeks she stayed on as a vacation

• Time Traveller provided Tammy with a Mercedes Benz, which she used for 10 months of the year for work and pleasure. The following pertains to her automobile usage:

Monthly lease payment. $800

Kilometres driven for employment purposes 29,000 kms

Total kilometres driven during the year 32,000 kms

Operating costs paid by the employer $4,300

• Tammy was required to pay professional association dues of $1,500 for the year.

• Tammy incurred the following expenses while on company business trips throughout the year:

Hotel accommodations $3,500

Airline fare 6,400

Meals 2,300

All of these expenses were charged to Tammy's personal credit card and reimbursed by the employer.

• Tammy was awarded a Shirley Elford glass sculpture, valued at $900, for exceeding her sales targets by 20%.

• Tammy was given one of the limited underground parking spots in her building. The cost of the parking spot is $1,500 and is paid by Time Travellers Ltd.

• Tammy exercised her stock options in 2019. She acquired 2,000 shares on August 1, 2019 for $15 per share when the shares were trading for $22 per share. The options were granted in 2018, when the shares were trading for $14 per share. On November 1, 2019, Tammy sold her shares for $25 per share.

• Time Travellers paid $300 for Tammy's income tax preparation.

REQUIRED:    

Calculate the amount that would be included in calculation of Tammy Taxpayer's Net Employment Income for taxation purposes for the 2019 taxation year. PLEASE SHOW EACH ITEM THAT MAKES UP NET EMPLOYMENT INCOME.

The following information applies to Tammy Taxpayer, employed by Time Travellers Ltd. (a Canadian Controlled Private Corporation).

Bonus based on Tammy’s hard work negotiating contracts on behalf of the company (of which $15,000 was received on December 25, 2019 and the remainder will be received on January 15, 2020)                    

During 2019, Time Travellers withheld the following amounts from her gross salary:

• Tammy’s employer made a $6,000 matching contribution to her registered pension plan.

• Travelling expenses for a 3 week trip for Tammy were reimbursed by Time Traveller. The cost of the entire trip was $3,000. Tammy spend one week attending a business conference and the other two weeks she stayed on as a vacation

• Time Traveller provided Tammy with a Mercedes Benz, which she used for 10 months of the year for work and pleasure. The following pertains to her automobile usage:

• Tammy was required to pay professional association dues of $1,500 for the year.

• Tammy incurred the following expenses while on company business trips throughout the year:

All of these expenses were charged to Tammy’s personal credit card and reimbursed by the employer.

• Tammy was awarded a Shirley Elford glass sculpture, valued at $900, for exceeding her sales targets by 20%.

• Tammy was given one of the limited underground parking spots in her building. The cost of the parking spot is $1,500 and is paid by Time Travellers Ltd.

• Tammy exercised her stock options in 2019. She acquired 2,000 shares on August 1, 2019 for $15 per share when the shares were trading for $22 per share. The options were granted in 2018, when the shares were trading for $14 per share. On November 1, 2019, Tammy sold her shares for $25 per share.

• Time Travellers paid $300 for Tammy’s income tax preparation.

REQUIRED:

Calculate the amount that would be included in calculation of Tammy Taxpayer’s Net Employment Income for taxation purposes for the 2019 taxation year. PLEASE SHOW EACH ITEM THAT MAKES UP NET EMPLOYMENT INCOME.

he newly formed Buffalo School District engaged in the following transactions and other events during the year:levied and collected property taxes of $110 million. 2. It issued $30 million in long-term bonds to construct a building. It placed the cash received in a special fund set aside to account for the bond proceeds. 3. During the year it constructed the building at a cost of $25 million. It expects to spend the $5 million balance in the following year. The building has an estimated useful life of 25 years. 4. It incurred $70 million in general operating costs, of which it paid $63 million. It expects to pay the balance early the following year. 5. It transferred$12million from its general fund to a fund established to account for resources set aside to service the debt. Of this, $10 million was for repayment of the debt; $2 million was for interest. 6. From the special fund established to service the debt, it paid $2 million in interest and $6 million in principal. 7. It collected $4 million in hotel taxes restricted to promoting tourism.Since the resources were restricted they were accounted for in a special restricted fund. During the year, the district spent $3 million on promoting tourism. 8. The district established a supplies store to provide supplies to the district’s various departments by transferring $4 million from the general fund. It accounted for the store in an internal service (proprietary) fund. During the year the store purchased (and paid for) $2 million in supplies. Of these it ‘‘sold’’ $1 million, at cost (for cash),to departments accounted for in the general fund. During the year these departments used all of the supplies that they had purchased. a. Prepare journal entries to record the transactions and other events in appropriate funds. APrepare journal entries to record the transactions and other events in appropriate funds. Assume that governmental funds are accounted for on a modified accrual basis and focus only on current financial resources (and thus do not give balance sheet recognition either to capital assets or long-term debts). Proprietary funds are accounted for on a full accrual basis. b. Prepare a combined balance sheet—one that has a separate column for each of the governmental funds you established. c. Prepare a combined statement of revenues, expenditures, and changes in fund balances for all governmental funds. Prepare a separate statement of revenues, expenses, and changes in fund net position for any proprietary funds you established. d. Prepare a government-wide statement of net position and a government-wide statement of activities in which all funds are consolidated and are accounted for on a full accrual basis. Be sure to include both long-term assets and liabilities on the statement of net position and to depreciate the long-term assets. Also, be sure to adjust for any interfund activity.

The following information applies to Tammy Taxpayer, employed by Time Travellers Ltd. (a Canadian Controlled Private Corporation).

Bonus based on Tammy’s hard work negotiating contracts on behalf of the company (of which $15,000 was received on December 25, 2019 and the remainder will be received on January 15, 2020)                    

During 2019, Time Travellers withheld the following amounts from her gross salary:

• Tammy’s employer made a $6,000 matching contribution to her registered pension plan.

• Travelling expenses for a 3 week trip for Tammy were reimbursed by Time Traveller. The cost of the entire trip was $3,000. Tammy spend one week attending a business conference and the other two weeks she stayed on as a vacation

• Time Traveller provided Tammy with a Mercedes Benz, which she used for 10 months of the year for work and pleasure. The following pertains to her automobile usage:

• Tammy was required to pay professional association dues of $1,500 for the year.

• Tammy incurred the following expenses while on company business trips throughout the year:

All of these expenses were charged to Tammy’s personal credit card and reimbursed by the employer.

• Tammy was awarded a Shirley Elford glass sculpture, valued at $900, for exceeding her sales targets by 20%.

• Tammy was given one of the limited underground parking spots in her building. The cost of the parking spot is $1,500 and is paid by Time Travellers Ltd.

• Tammy exercised her stock options in 2019. She acquired 2,000 shares on August 1, 2019 for $15 per share when the shares were trading for $22 per share. The options were granted in 2018, when the shares were trading for $14 per share. On November 1, 2019, Tammy sold her shares for $25 per share.

• Time Travellers paid $300 for Tammy’s income tax preparation.

REQUIRED:

Calculate the amount that would be included in calculation of Tammy Taxpayer’s Net Employment Income for taxation purposes for the 2019 taxation year. PLEASE SHOW EACH ITEM THAT MAKES UP NET EMPLOYMENT INCOME.

- If this client was in a hospital setting for multiple days, what information could a nurse use to educate the client and what benefits would this provide for the Client? Question must be answered in paragraph form, no short answers can be accepted for the assignment.

"Case Study Mrs. S, a 45-year-old woman, came to your doctor’s office because she had a sore that would not heal on her leg. She is 5 ft 5 in. and weighs 200 lb (body mass index [BMI] = 33.5). Vital signs are temperature 98.6°F, pulse 70 beats per minute, respirations 16 breaths per minute, and blood pressure 160/95 mm Hg. Mrs. S reports a gradual increase in her weight since her third child was born 20 years ago. That baby weighed 12 lb. Two previous pregnancies produced infants weighing 10 and 11 lb. She has no known allergies. None of the children live at home. Mrs. S lives with her husband, who works as a construction laborer. She has been seasonally employed as a hotel maid at a nearby resort. Health insurance coverage is sporadic. They have a new insurance policy now. Mrs. S is the oldest of six children. Her father died of a heart attack at age 60. Her mother died of a stroke at age 62. Both parents reportedly “had a little sugar.” The sister who is closest to Mrs. S in age developed diabetes 3 years ago and is being treated with oral medication. Their youngest sister was diagnosed with type 1 diabetes at age 18 after an episode of mumps. Mrs. S reports a good appetite and a fluid intake of about 3 quarts per day. Her favorite beverage is iced tea with sugar and lemon. She does most of the grocery shopping and cooking. Mrs.S, hit her left ankle with the screen door about 2 months ago. The resulting sore has not healed but has gotten worse. Mrs. S knows that a sore that does not heal is a sign of cancer, which is why she sought medical attention. The ankle now has an open lesion 5 cm in diameter over the lateral ankle bone. The entire foot is swollen to twice the size of the right foot. The bandage over the sore had greenish-yellow drainage on it. A random blood glucose test 3 hours after her last meal shows a glucose level of 400 mg/dL. Her urine glucose was negative for ketones. The physician diagnoses Mrs. S with type 2 diabetes.

The following information applies to Tammy Taxpayer, employed by Time Travellers Ltd. (a Canadian Controlled Private Corporation). Gross salary $110,000 Bonus 50,000 Bonus based on Tammy’s hard work negotiating contracts on behalf of the company (of which $15,000 was received on December 25, 2019 and the remainder will be received on January 15, 2020) During 2019, Time Travellers withheld the following amounts from her gross salary: Registered Pension Plan $6,000 Charitable Donations – United Way 2,000 Federal and Provincial Income Taxes 28,750 Tammy’s employer made a $6,000 matching contribution to her registered pension plan. Travelling expenses for a 3 week trip for Tammy were reimbursed by Time Traveller. The cost of the entire trip was $3,000. Tammy spend one week attending a business conference and the other two weeks she stayed on as a vacation Time Traveller provided Tammy with a Mercedes Benz, which she used for 10 months of the year for work and pleasure. The following pertains to her automobile usage: Monthly lease payment $800 Kilometres driven for employment purposes 29,000 kms Total kilometres driven during the year 32,000 kms Operating costs paid by the employer $4,300 Tammy was required to pay professional association dues of $1,500 for the year. Tammy incurred the following expenses while on company business trips throughout the year: Hotel accommodations $3,500 Airline fare 6,400 Meals 2,300 All of these expenses were charged to Tammy’s personal credit card and reimbursed by the employer. Tammy was awarded a Shirley Elford glass sculpture, valued at $900, for exceeding her sales targets by 20%. Tammy was given one of the limited underground parking spots in her building. The cost of the parking spot is $1,500 and is paid by Time Travellers Ltd. Tammy exercised her stock options in 2019. She acquired 2,000 shares on August 1, 2019 for $15 per share when the shares were trading for $22 per share. The options were granted in 2018, when the shares were trading for $14 per share. On November 1, 2019, Tammy sold her shares for $25 per share. Time Travellers paid $300 for Tammy’s income tax preparation. REQUIRED: Calculate the amount that would be included in calculation of Tammy Taxpayer’s Net Employment Income for taxation purposes for the 2019 taxation year. PLEASE SHOW EACH ITEM THAT MAKES UP NET EMPLOYMENT INCOME

Prem Narayan, a graduate student in engineering, to market a radical new speaker he had designed for automobile sound systems, founded Acoustic Concepts, Inc. Prem established the company’s headquarters into rented quarters in a nearby industrial park. He hired a receptionist, an accountant, a sales manager, and a small sales staff to sell the speakers to retail stores. Prem asked his accountant, Bob Luchinni, to prepare several cost-volume-profit analyses, using the information shown below.

Sales price for one speaker set................................................... $250 Variable manufacturing cost for each speaker set (direct
materials) ................................................................................... $150 Fixed expenses per month (rent, salaries of receptionist, sales

people, accountant, and Prem)................................................... $35,000 Number of speaker sets sold per month..................................... 400

Prem and other management personnel are considering the use of higher-quality components, which would increase variable costs by $10 per speaker. However, the sales manager predicts that the higher overall quality would increase sales to 480 speaker sets per month. Should the higher quality components be used?

The sales manager believes that by reducing the selling price of speakers by $20, and also by increasing the advertising budget by $15,000 per month, that sales will increase to 600 speaker sets per month. Should the changes be made?

The sales manager would like to place the sales staff on a commission basis of $15 per speaker sold, rather than on flat salaries that now total $6,000 per month. The sales manager is confident that the change will increase monthly sales to 460 speaker sets per month. Should the change be made?

Suppose Acoustic Concepts has an opportunity to make a bulk sale of 150 speakers to a wholesaler, if an acceptable price can be worked out. The sale would not disturb the company’s regular sales, nor would if affect fixed operating costs per month. What price should be quoted to the wholesaler if Acoustic Concepts wants to increase its monthly profits by $3,000?

 C.M.=contribution margin, S.P.=sales price, V.C.=variable cost, F.C.=fixed cost

 C.M. per unit = S.P. per unit – V.C. per unit

 The break even point is the point at which the total contribution margin equals fixed costs.

 Break even units sold = F.C. / C.M. Per unit

 Break even sales dollars = F.C. / C.M. Percentage

 C.M. Percentage = C.M. per unit / S.P. per unit, or C.M. (total) / Sales (total)

1. Why can't a monopolist charge any price he wishes for his product? 2. The Government grants a single firm the right to sell food and drink in Yosemite National Park. What are thge tradeoffs associated with such a poicy? 3. Give two examples of natural monopolies. Should the government set price ceilings in natural monopoly markets? Why? 4. Monopolistic competition has some of the same characteristics as monopoly and some of the same characteristics as perfect competiton (hence the name "monopolistic competition"). List a few of these similarities. 5. Why do monopolistically competitive firms end up making zero economic profits? 6. Why does a monopolistically competitive firm choose the level of output where marginal cost equals marginal revenue? 7. Complete this statement by filling in the blanks with the words "increase" or "decrease": The entry of an additional firm in a mon. comp. market _____________ the profit per unit of output because entry _________ the price and _____________the average cost of production. 8. Consider the Utica Slappers, a hockey team that plays in an arena with 8,000 seats. The only cost associated with staging a hockey game is a fixed cost of $6,000: The team incurs this cost regardless of how many people attend a game. The demand curve for hockey tickets has a slope of $0.001 per ticket ($1 divided by 1,000 tickets): Each $1 increase in price decreases the number of tickets sold by 1,000. For example, here are some combinations of price and quantity: Price per ticket $4 $5 $6 $7......Quantity of tickets 8,000 7,000 6,000 5,000. The owner's objective is to maximize the profit per hockey game (total revenue minus the $6,000 fixed cost). a. What price will maximize profit? b. If the owner picks the price that maximizes profit, how many seats in the arena will be empty? c. Is it rational to leave some seats empty? 9. There are a wide variety of breakfast cereals on the marketin grocery stores, they usually take up an entire aisle. As a result, it is possible to purchase many cereals that are highly similar but have small distinguishing characteristics that differentiate them. a. List some cereals that are very close substitutes for one another b. What does society gain from having all of these varieties of breakfast cereal? c. What does society lose by having all of these varieties of breakfast cereal? 10. Briefly differentiate between collusion among firms in an oligopoly and an actual cartel. 11. Give a real world example of a duopoly and a cartel.

Read the following extract and answer the questions that follow. [20 marks]
Joe Gebbia and Brian Chesky were sharing a loft apartment in San Francisco in 2007 when they realised that attendees to a major design conference in town were going to struggle to find a room for the night.
With almost every hotel room in the city booked out, Gebbia and Chesky, who were struggling to pay their rent, seized their chance.
They threw the doors open to their place, offering strangers the chance to sleep on two airbeds on the floor and eat a home-cooked breakfast.
As the Airbnb website puts it: “Two air mattresses, a thousand dollars, three new friends, and many high fives later, the entrepreneurs realized an opportunity.”
With the addition of tech wizard Nathan Blecharczyk, the team decided to change the accommodation model by allowing people to list their own places to stay online, with the new business, Airbedandbreakfast.com, gaining revenue through a fee of between 6% and 12%, depending on the price of the booking.
Initially focusing on large-scale events where accommodation would be scarce, the trio raised cash for the venture in an unusual way – they sold $30,000-worth of special edition breakfast cereals they created, based on then-US presidential candidates Barack Obama and John McCain.
In 2008 the name was shortened to Airbnb and users were able to book whole properties, boats and even private islands, rather than just a couch to crash for the night.
In June last year, the business revealed it had booked its ten millionth night, with 75% of these bookings occurring outside its initial market of the US.

There have been hitches – such as the PR disaster of a woman writing on her blog that her apartment had been trashed by an Airbnb renter. Chesky wrote a contrite response, admitted the company had “dropped the ball” and introduced insurance and a 24-hour helpline to help solve future problems.
Airbnb now features listings in 33,000 cities in 192 countries. It has also raised a very handy $120 million in venture capital and is valued at $1.3 billion.
Chesky told CNN: “Sometimes it takes a fresh pair of eyes to look at a problem and see it as an opportunity, not just the way things are or have to be.”
“I think that being a young entrepreneur is a great opportunity to challenge the status quo and build the world as you think it ought to be.”
Source: https://www.smartcompany.com.au/business-advice/innovation/five-top-business-ideas-that-made-millions/
Accessed: 02/10/19

REQUIRED:
1. With reference to the extract, discuss two methods of generating business ideas that resulted in Airbnb.
2. Use the extract to discuss how a feasibility study can be used to ascertain whether a business idea is an opportunity.