Comment on the President's 2020 Budget (submitted to Congress on March 11) to look at specific proposals (no endorsement!) on the national debt and also what are your thoughts on US national debt.

Let us consider strategic risk. Look at the matrix and identify the two parameters that determine strategic risk. These two parameters are about the threat of opportunistic behavior from third-parties from which a company sources services. They do not necessarily distinguish between offshore and onshore providers. This observation leads us to a question: Now think of the measures that a company can adopt to mitigate strategic risk. Are some of those measures weakened by (or are costlier to implement) in the case of an offshore sourcing arrangement – i.e., where the provider is in say, Asia and the client is in say, the US or Canada?

Based on the 1960–2005 period, if a Canadian company were to import from Brazil and must pay in Brazilian reias when the goods are delivered in 90 days, should the company get the currency through the spot or the futures market? Why? Would it be different if the company had to pay in US$? Explain.

Especially, this part "Would it be different if the company had to pay in US$? ", please explain in detail. thanks

Janice acquired an apartment building on June 4, 2020, for $1,600,000. The value of the land is $300,000. Assume Janice sold the apartment building on November 29, 2026.

If required, round your answers to the nearest dollar.

Click here to access the depreciation table to use for this problem.

a. How is the property classified for MACRS?

b. What is the life of the asset for MACRS?

c. Determine Janice's cost recovery deduction for 2020 and 2026.
2020: $
2026: $

On April 30, 2019, Leo purchased and placed in service a new car that cost $78,600. The business use percentage for the car is always 100%. He does not take the additional first-year depreciation or any § 179.

If required, round your answers to the nearest dollar.

Click here to access the depreciation table of the textbook. Click here to access the limits for certain automobiles.

a. What MACRS convention applies to the new car?

b. Is the automobile considered "listed property"?

c. Leo's cost recovery deduction in 2019 is $ and for 2020 is $.

Silver Cloud Computing is a company that provides cloud computing services. The company commenced operations on March 1, 2016. It acquired financing from the issuance of common stock for $40,000,000 and issuance of 4% bonds that mature in 2026 for $30,000,000. The income statements and balance sheets for the first two years are provided in a separate Excel spreadsheet. All amounts are in thousands.

Required:

The Chief Executive Officer (CEO) is interested in increasing sales and decreasing expenses. You have been requested to prepare a report that provides analysis of the financial statements and recommendations to improve the financial performance of the company. Your report should include the following items:

A. The company was the victim of a cyber attack. It is not yet known the extent of information that was obtained. The company may be subject to lawsuits as a result of the security breach. Discuss the impacts this may have on the company’s financial statements.

B. The CEO would like to pay dividends to the stockholders. Should the company pay dividends to the shareholders and how would this impact the company’s financial statements?

SILVER CLOUD COMPUTING

Income Statements

For the Years Ended February 28, 2018 and 2017

fye 2/28/2018 fye 2/28/2017

(in thousands) (in thousands)

Sales $225,000 $200,000

Sales Discounts 3,375 2,500

Net Sales 221,625 197,500

Wages and Salaries 73,500 70,000

Bad Debt Expense 2,100 2,000

Depreciation 20,000 20,000

Marketing Expense 33,750 30,000

Occupancy Expense 54,000 54,000

Research & Development 22,500 20,000

Total Expenses 205,850 196,000

Income from Operations 15,775 1,500

Interest Expense 1,200 1,200

Income Before Taxes 14,575 300

Income Taxes (40%) 5,830 120

Net Income $8,745 $180

SILVER CLOUD COMPUTING

Balance Sheets

February 28, 2018 and 2017 and February 29, 2016

At Inception

Feb 28 2018 Feb 28 2017 Feb 29 2016

(in thousands) (in thousands) (in thousands)

Cash $55,755 $22,300.00 $10,000

Accounts Receivable 18,000 16,000 -

Net Computer Equipment 20,000 40,000 60,000

Total Assets $93,755 $78,300 $70,000

Accounts Payable $9,000 $8,000 $-

Taxes Payable 5,830 120 -

Long-term Debt 30,000 30,000 30,000

Common Stock 40,000 40,000 40,000

Retained Earnings 8,925 180 -

Total Liabilities & Stockholders Equity $93,755 $78,300 $70,000

After graduating from New York University College and passing your CPA exam, you have opened up an accounting firm that offers tax and consulting services to clients. You have just picked up a new client who is very anxious about his expenses. The client considers his in house accounting services to be too high and he feels that he could save some time and money in that area by telling his accounting staff not to do closing entries. It is your job, in this discussion, to explain to your new client the importance of doing the closing entries and why they are worth doing.

2. Please tell us about permanent and temporary accounts. Please let us know which financial statement contains the permanent accounts and which one contains the temporary accounts. Please provide an example of the two closing entries.

orley Company buys surgical supplies from a variety of manufacturers and then resells and delivers these supplies to hundreds of hospitals. Worley sets its prices for all hospitals by marking up its cost of goods sold to those hospitals by 8%. For example, if a hospital buys supplies from Worley that cost Worley $100 to buy from manufacturers, Worley would charge the hospital $108 to purchase these supplies.

For years, Worley believed that the 8% markup covered its selling and administrative expenses and provided a reasonable profit. However, in the face of declining profits, Worley decided to implement an activity-based costing system to help improve its understanding of customer profitability. The company broke its selling and administrative expenses into five activities as shown:

Worley gathered the data below for two of the many hospitals that it serves—University and Memorial (each hospital purchased medical supplies that had cost Worley $35,000 to buy from manufacturers):

Required:

1. Compute the total revenue that Worley would receive from University and Memorial.

2. Compute the activity rate for each activity cost pool.

3. Compute the total activity costs that would be assigned to University and Memorial.

4. Compute Worley’s customer margin for University and Memorial. (Hint: Do not overlook the $35,000 cost of goods sold that Worley incurred serving each hospital.)

2. GMAT scores are required for admission to JHJ’s MBA program. GMAT scores are known to be normally distributed with a mean of 490 points and a standard deviation of 61 points. a. 25% of the scores of applicants are less than what score? b. 75% of the scores of applicants are less than what score? c. 25% of the scores of applicants are less than what score? d. 80% of the scores of applicants are more than what score? e. Only applicants in the top 10% of all GMAT scores, are admitted to the MBA program. What score is required to be admitted to the MBA program.