1. You are provided with the financial reports (2 year balance sheet and current year profit and… 1 answer below »

1. You are provided with the financial reports (2 year balance sheet and current year profit and loss in as a as a Microsoft® Excel) along with the supplemental information that provides the details required to prepare a tax return for your new tax client – Phoenix Medical, Inc.

2. Fill out pages 1 through 5 of Form 1120 – US Corporation Income Tax Return. Include as many details as you can. Utilize the PDF Form 1120 provided and consult the form instructions where needed.

3. Upload the completed tax return to the assignment tab.

Correctly state the letter or letters of the principle(s), assumption(s), or concept(s) used to just

 

Correctly state the letter or letters of the principle(s), assumption(s), or concept(s) used to justify the accounting procedure followed. These procedures are all correct.

 

 

 

Principle(s), assumption(s), concept(s):

 

 

 

A. Business entity.
B. Conservatism.
C. Earning principle of revenue recognition.
D. Going concern (continuity).
E. Exchange-price (cost) principle.
F. Matching principle.
G. Period cost (or principle of immediate recognition of expense).
H. Realization principle.
I. Stable dollar assumption.

 

 

 

Accounting procedures:

 

 

 

Correctly state the letter or letters of the principle(s), assumption(s), or concept(s) used to justify the accounting procedure followed for the accounting procedures.

 

 

 

1. Inventory is recorded at the lower of cost or market value.
2. A truck purchased in January was reported at 80 percent of its cost even though its market value at year-end was only 70 percent of its cost.
3. The collection of $40,000 of cash for services to be performed next year was reported as a current liability.
4. The president's salary was treated as an expense of the year even though he spent most of his time planning the next two years' activities.
5. No entry was made to record the company's receipt of an offer of $800,000 for land carried in its accounts at $435,000.
6. A supply of printed stationery, checks, and invoices with a cost of $8,500 was treated as a current asset at year-end even though it had no value to others.
7. A tract of land acquired for $180,000 was recorded at that price even though it was appraised at $230,000, and the company would have been willing to pay that amount.
8. The company paid and charged to expense the $4,200 paid to Craig Nelson for rent of a truck owned by him. Craig Nelson is the sole stockholder of the company.

 

    • Posted: 4 years ago
    • Due: 06/11/2015
    • Budget: $5

    Topic: Nike vs Adidas Research Paper – Exercise in Brand Strategy This is a research exercise design

     

    Topic: Nike vs Adidas

    Research Paper ‐ Exercise in Brand Strategy

    This is a research exercise designed to show how the principles of brand management are used to develop more effective marketing plans and programs.

    The objective of this exercise is to appreciate the importance and value of a brand to the organization and all its stakeholders from the perspective of the marketing manager. It is recommended that you get data for your report from the library, current business periodicals, the internet, and other secondary sources.

    1. Each student will select two different brands in the same product category marketed to the individual consumer. The brands could be a tangible good, (e.g. razor blades, soft drinks, computers etc.) or a service (e.g. insurance, banks etc.). No alcohol or tobacco products please. Do not use pain relievers (analgesics) or automobiles.

    2. Brand Selections ‐ must be submitted and approved no later than Midnight Wednesday of Unit 2. No two students can choose the same brands.

    3. Base your analysis on the following ‐ brand equity, brand elements, brand positioning, brand portfolio; targeting, segmentation and marketing mix.

    4. Identify which brand you feel is more effective and support the reasons for your decision based on branding principles.

    Deliverable

    Written Report ‐ each student will prepare a 4‐5 page written analysis (plus separate cover ad reference pages). Use APA format; double‐spaced; 12pt. New Times Roman font with one‐inch margins. Considering this is a research paper, it is critical that you incorporate properly cited references to your external sources of credible supporting materials. You will automatically lose 20 points for non‐ referenced supporting material.

    DUE DATE: no later than midnight Sunday of Unit 4. Late submissions will not be accepted. 

     

     

     

    Rubric for Research Paper

     

    CRITERIA

    Deficient (0 – 13 Points)

    Development Needed to Proficient
    (14 – 16 Points)

    Proficient
    to Exemplary (17 – 20 Points)

    Points Earned (100 Pts.)

    1.

    Identify which brand you feel is more effective and support the reasons for your decision based on branding principles

    Reasons not given or reasons significantly lacking thought or development.

    Reasons are given, but they may lack depth or sufficient development.

    Thoughtful, well- developed, and clearly presented reasons for supporting branding principles

     

    2.

    Analysis on the following – brand equity, brand elements, brand positioning, brand portfolio;

    Does not provide an adequate overview of topics as they relate to brands chosen

    Required information is present. Topics relate to brands. Interrelationship of each principle not shown

    Branding principles are fully detailed and clearly written. Interrelationship clearly demonstrated

     

    3.

    Assessed targeting, segmentation and marketing mix.

    Does not provide an adequate overview of topics as they relate to brands chosen

    Elements of a marketing program are present. relationship to branding principles nor shown

    Interrelationship of marketing strategies and tactics to branding principles clearly demonstrated

     

    4.

    References and use of APA writing method

    Work displays
    no references or no clear citation methods

    There are some references/citations but no clear APA method

    Work displays skilled use of APA citation method

     

    5.

    Preparation and Ongoing Development

    Paper demonstrates a lack of preparation. Mechanics and grammar were poor

    Paper demonstrates that there was sufficient preparation for adequate delivery. Mechanics

    were sound

    Paper demonstrates that there was thorough preparation. The paper was well-designed

    and executed

     

    Total Points:

     
      • Posted: 4 years ago
      • Due: 16/11/2015
      • Budget: $30

      Is proof for the existence of God necessary? Which argument for the existence of God is strongest? W

      Is proof for the existence of God necessary?

      Which argument for the existence of God is strongest? Why?

      What are the foundations of the universe and from where did the universe emerge?

      Can one be moral and not believe in God?

      Can God and real evil be reconciled?

      Are science and religion in conflict?

      Can God’s omniscience and human free will be reconciled?

      Is there a rational argument for atheism?

      After watching the video on Cuba’s economy, discuss the following:1. Can Cuba effectively become a..

      After watching the video on Cuba’s economy, discuss the following:1. Can Cuba effectively become a free market economy?2. Could the US benefit from lifting the embargo on Cuba?3. What are Cuba’s comparative advantages relative to the US?4. What impact does the embargo have on Cuba?5. What do multiple trade theories have to say about Cuba?View Solution:
      After watching the video on Cuba s economy discuss the following

      Presentation: Oral presentation before students and teachers – date of presentation will be announce

      Presentation: Oral presentation before students and teachers – date of presentation will be announced.  Please note that you will graded on not only the final paper and class presentation, but also the intermediate steps. Your failure to submit the required intermediate work can result in a reduction of your grade on the paper or the presentation or both.

      Class Presentation Requirements. All students will be required to make a presentation to their peers on a date to be announced. Do not simply read your paper accompanied by PowerPoint slides. Sound and other creative enhancements may be used. The student will also prepare an appropriate number of handouts to accompany the presentation and to be distributed to the class.

        • Posted: 16 days ago
        • Due: 21/11/2019
        • Budget: $8

        Use the neoclassical theory of distribution to predict the impact on the real wage and the real…

        (i) Use the neoclassical theory of distribution to predict the impact on the real wage and the real rental

        price of capital of each of the following events:

        (a) A wave of immigration increases the labor force.

        (b) An earthquake destroys some of the capital stock.

        (c) A technological advance improves the production function.

        (ii) Suppose that an economy’s production function is Cobb–Douglas with parameter = 0.3.

        (a) What fractions of income do capital and labor receive?

        (b) Suppose that immigration increases the labor force by 10 percent. What happens to total output

        (in percent)? The rental price of capital? The real wage?

        (c) Suppose that a gift of capital from abroad raises the capital stock by 10 percent. What happens

        to total output (in percent)? The rental price of capital? The real wage?

        Attachments:

        Question 2 In an address entitled ‘Introductory comments to the European Parliament’ (made in…

        Question 2

        In an address entitled ‘Introductory comments to the European Parliament’

        (made in Brussels, Belgium) on 11 January 2016, the Chairperson of the IASB, Hans Hoogervorst, made the following comments in relation to the new accounting standard on accounting for leases (IFRS 16) as reported 11

        January 2016 on the IASB website at www.i rs.or

        I would like to make some comments about our upcoming Leases Standard, which we will publish the day after tomorrow. Currently, listed companies around the world have around 3 trillion euros’ worth of leases, especially in sectors such as the airline industry, retail and shipping. Under cunent accounting requirements, over 85 per cent of these leases are labelled as operating leases and are not recorded on the balance sheet. Clearly, the accounting today does not reflect economic reality. Despite operating leases being off balance sheet, there can be no doubt that they create real liabilities. During the financial crisis, some major retail chains went bankrupt because they were unable to adjust quickly to the new economic reality. They had significant long-term operating lease commitments on their stores, and yet had deceptively lean balance sheets. In fact, their off balance sheet lease liabilities were up to 66 times greater than the debt reported on their balance sheet. Moreover, the current accounting for leases leads to a lack of comparability. An airline that leases most of its aircraft fleet looks very different from its competitor that bought most of its fleet, even when in reality their financing obligations may be very similar. There is no level playing field between these companies. These problems will be resolved in the upcoming Leases Standard. All leases will be recognised as assets and liabilities by lessees. The accounting will better reflect the underlying economics. This change is expected to affect roughly half of all listed companies and will not be popular with everyone. Accounting changes are often controversial and can be met with warnings of adverse economic effects and costs of system changes. The IASB has looked at all these possible risks very carefully and we will publish a detailed effect analysis on the Standard. Our conclusion is that the risks and costs of the new Leases Standard are manageable. First of all, IFRS 16 will not put the leasing industry out of business. Leases will remain attractive as a flexible source of finance. It will remain appealing to companies to lease assets so that they do not bear the risks of owning them. While the cosmetic accounting benefits of leasing will disappear, the real business benefits of leasing will not change as a result of the new Standard. We do not deny there will be costs involved in updating systems to implement the new Leases Standard, but we have done our best to keep these costs to a minimum. For example, we are not requiring companies to recognise assets and liabilities for short term and small ticket leases. This should be especially beneficial for smaller companies. In sum, we expect the benefits of the new Leases Standard to greatly outweigh its costs. The new visibility of all leases will lead to better informed investment decisions by investors, and to more balanced lease-versus-buy decisions by management. IFRS 16 will lead to improved capital allocation, which should be beneficial for economic growth.

        REQUIRED

        (a) Explain why the Chairperson of the IASB believes that the former accounting standard for leases (AASB 117/ IAS 17) did ‘not reflect economic reality’.

        (b) What is the reason why, under the fom-rer accounting standard, reporting entities’ ‘off balance sheet (statement of financial position) lease liabilities were up to 66 times greater than the debt reported on their Statement of Financial Position’?

        Attachments:

        A capacitor of 3 F initially uncharged, is connected with a battery of 18 V and a 98 O resistor….

        A capacitor of 3 F initially uncharged, is connected with a battery of 18 V and a 98 O resistor.

        Calculate the maximum charge on the capacitor.