Question 1 (1 point) A corporation purchased a new Hummer (cost $45,000 plus sales tax) for the president?s personal use. Ignoring sales taxes, the maximum it can add to the appropriate CCA class is: Question 1 options: $45,000 to class 10 $45,000 to class 10.1 $30,000 to class 10 $30,000 to class 10.1 none of the above Question 2 (1 point) Corporation UUU reported a gain on the disposal of equipment on its 2015 income statement. For tax purposes the gain is: Question 2 options: added back to reported accounting income deducted from reported accounting income added to the appropriate CCA class deducted from the appropriate CCA class none of the above Question 3 (1 point) A recapture must be included in income: Question 3 options: when a depreciable property is disposed of for more than its cost when a depreciable property is sold for less than its capital cost when there is a positive balance in a CCA class at the year-end when there is a negative balance in a CCA class at the year-end none of the above

Fluent Ltd. has determined that, for the current year, it has Taxable Income before the deduction of CCA of $40,000. It is the policy of the Company to limit CCA deductions to an amount that would reduce Taxable Income to nil. At the end of the year, before the deduction of CCA, the following UCC balances are present: Class 1 (Buildings Acquired In 2005) $475,000 Class 8 95,000 Class 10 102,000 Class 10.1 26,000 There have been no additions to or dispositions from these classes during the year. Which class(es) should be charged for the $40,000 of CCA that will be required to reduce Taxable Income to nil? Explain your conclusion.

The publisher of an online economics Primer course is trying to sell the primer to a group of MBA students and a group of EMBA students in the US. The maximum willingness to pay for the primer in each group of students as well as the number of students in each group is given in the table . Assume the marginal cost is $50. WIllingness to pay Number of students EMBA $300 1,000 MBA $100 2,000 Suppose you can set on price for MBA students and one price for EMBA students. However you know that MBA students are willing to resell the Primer to EMBA students for their purchase price plus $60. MBA students pay $x and they can resell the primer for $(x+60). Assuming there are no other cost involved in this transaction and it cannot be prevented. What are the optimal prices for the two groups of students? A. Charge $300 to EMBA and $240 to MBA B. Charge $240 to EMBA and $100 to MBA C. Charge $240 to EMBA and $240 to MBA D. None of the above

need Managerial Accounting - MBA 520 Summer 1, 2016. MBA 520-81 Summer 1, 2016 answer for problem 5-19A Target pricing and target costing with ABC LO 5-3

Minstrel Music purchased the copyright to a song for $279,000 on July 1. The copyright protects the owners' legal rights for the next 20 years, but producers at Minstrel estimate they will only be able to use the copyright for the next 15 years. Minstrel Music Productions uses the straight-line method of amortization and has a June 30 year-end. A. Prepare the journal entry to record amortization expense for the first year. If required, round your answers to nearest whole value. SEE ATTACHMENT......

I am having trouble filling this sheet out. once I get the general journal I think I can finish the rest

The following facts apply to the pension plan of Boudreau Inc. for the year 2014. Plan assets, January 1, 2014 $490,000 Projected benefit obligation, January 1, 2014 490,000 Settlement rate 8 % Service cost 40,000 Contributions (funding) 25,000 Actual and expected return on plan assets 49,700 Benefits paid to retirees 33,400 Using the preceding data, compute pension expense for the year 2014. As part of your solution, prepare a pension worksheet that shows the journal entry for pension expense for 2014 and the year-end balances in the related pension accounts. BOUDREAU INC. Pension Worksheet—2014 General Journal Entries Memo Record Items Annual Pension Expense Cash Pension Asset/ Liability Projected Benefit Obligation Plan Assets Balance, January 1, 2014 $ Dr.Cr. $ Dr.Cr. $ Dr.Cr. $ Dr.Cr. $ Dr.Cr. Service cost Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Interest cost Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Actual return Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Contributions Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Benefits Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Journal entry, December 31 $ Dr.Cr. $ Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Balance, December 31, 2014 $ Dr.Cr. $ Dr.Cr. $ Dr.Cr.

Question: 1. The actuary for the pension plan of Gustafson Inc. calculated the following net gains and losses. Incurred during the Year (Gain) or Loss 2014 $300,000 2015 480,000 2016 (210,000) 2017 (290,000) Other information about the company's pension obligation and plan assets is as follows. As of January 1, Projected Benefit Obligation Plan Assets (market-related asset value) 2014 $4,000,000 $2,400,000 2015 4,520,000 2,200,000 2016 5,000,000 2,600,000 2017 4,240,000 3,040,000 Gustafson Inc. has a stable labor force of 400 employees who are expected to receive benefits under the plan. The total service-years for all participating employees is 5,600. The beginning balance of accumulated OCI (G/L) is zero on January 1, 2014. The market-related value and the fair value of plan assets are the same for the 4-year period. Use the average remaining service life per employee as the basis for amortization. Compute the minimum amount of accumulated OCI (G/L) amortized as a component of net periodic pension expense for each of the years 2014, 2015, 2016, and 2017. Apply the "corridor" approach in determining the amount to be amortized each year. (Round answers to 0 decimal places, e.g. 2,500.) Year Minimum Amortization of (Gain) Loss 2014 $ 2015 $ 2016 $ 2017 $ 2. Webb Corp. sponsors a defined benefit pension plan for its employees. On January 1, 2014, the following balances relate to this plan. Plan assets $480,000 Projected benefit obligation 600,000 Pension asset/liability 120,000 Accumulated OCI (PSC) 100,000 Dr. As a result of the operation of the plan during 2014, the following additional data are provided by the actuary. Service cost $90,000 Settlement rate, 9% Actual return on plan assets 55,000 Amortization of prior service cost 19,000 Expected return on plan assets 52,000 Unexpected loss from change in projected benefit obligation, due to change in actuarial predictions 76,000 Contributions 99,000 Benefits paid retirees 85,000 Using the data above, compute pension expense for Webb Corp. for the year 2014 by preparing a pension worksheet. WEBB CORP. Pension Worksheet General Journal Entries Memo Record Items Annual Pension Expense Cash OCI—Prior Service Cost OCI— Gain/ Loss Pension Asset/ Liability Projected Benefit Obligation Plan Assets Balance, Jan. 1, 2014 $ Dr.Cr. $ Dr.Cr. $ Dr.Cr. $ Dr.Cr. $ Dr.Cr. $ Dr.Cr. $ Dr.Cr. Service cost Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Interest cost Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Actual return Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Unexpected gain Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Amortization of PSC Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Liability increase Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Contributions Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Benefits Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Journal entry for 2014 $ Dr.Cr. $ Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Accumulated OCI, Dec. 31, 2013 Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Dr.Cr. Balance, December 31, 2014 $ Dr.Cr. $ Dr.Cr. $ Dr.Cr. $ Dr.Cr. $ Dr.Cr.

which company advertisement line was "geography in history"

please can you solve this and also tell me a formula to find cogs after every purchase and sale

) Suppose SSC has decided to distribute $50 million, which it presently is holding in very liquid short-term investments. SSC's value of operations is estimated to be about $1,937.5 million, and it has $387.5 million in debt (it has no preferred stock). As mentioned previously, SSC has 100 million shares of stock outstanding. (1) Suppose instead that SSC has just made a $50 million distribution in the form of a stock repurchase. Now what is SSC's intrinsic value of equity? How many shares did SSC repurchase? How many shares remained outstanding after the repurchase? What is its intrinsic stock price per share after the repurchase?

(1) Assume that SSC has completed its IPO and has a $112.5 million capital budget planned for the coming year. You have determined that its present capital structure (80% equity and 20% debt) is optimal, and its net income is forecasted at $140 million. Use the residual distribution approach to determine SSC's total dollar distribution. Assume for now that the distribution is in the form of a dividend. Suppose SSC has 100 million shares of stock outstanding. What is the forecasted dividend payout ration? What is the forecasted dividend per share? What would happen to the payout ratio and DPS if net income were forecasted to decrease to $90 million? To increase to $160 million?

Nadal Inc. has two temporary differences at the end of 2006. The first difference stems from installment sales, and the second one results from the accrual of a loss contingency. Nadal's accounting department has developed a schedule of future taxable and deductible amounts related to these temporary differences as follows. 2007 2008 2009 2010 Taxable amounts $40,000 $50,000 $60,000 $80,000 Deductible amounts (15,000) (19,000) $40,000 $35,000 $41,000 $80,000 As of the beginning of 2006, the enacted tax rate is 34% for 2006 and 2007, and 38% for 2008-2011. At the beginning of 2006, the company had no deferred income taxes on its balance sheet. Taxable income for 2006 is $500,000. Taxable income is expected in all future years. Requirements: Do future taxable amounts result in deferred tax assets or deferred tax liabilities? Will the 2008 taxable amount increase or decrease income tax expense? Do future deductible amounts result in deferred tax assets or deferred tax liabilities? Will the 2008 deductible amount increase or decrease income tax expense? Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2006. Indicate how deferred income taxes would be classified on the balance sheet at the end of 2006. Do future taxable amounts result in deferred tax assets or deferred tax liabilities? Will the 2008 taxable amount increase or decrease income tax expense? Do future deductible amounts result in deferred tax assets or deferred tax liabilities? Will the 2008 deductible amount increase or decrease income tax expense? Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2006

26. Explain how the following are determined on the sale or exchange of a principal residence: a. Realized gain b. Recognized gain. c. Postponed gain d. Basis of new residence (South-western federal taxation Individual income taxes 2014)

Below question is from Introduction to Federal Income Taxation of Canada: About five years ago, Isabelle, Eden, Samara, and Joy formed a partnership to carry on a snow removal and landscape business. All the partners, except Isabelle, made an initial contribution of $40,000. Isabelle made an initial contribution of $80,000. Each agreed to share in the profits and losses of the business based on their initial capital transaction. At the end of the 2016 fiscal year of the partnership, Isabelle and Samara decided to go their separate ways. Samara received $125,000 for her partnership interest, while Isabelle received $250,000. The tax records for the five years ended December 31, 2015 reflected the following cumulative amounts: Income (before capital gains) from operations for tax purposes....................$750,000 Losses.........................................................................................................................80,000 Capital gains (to 2015)..............................................................................................10,000 Drawings by the partners.........................................................................................730,000 (isabelle=$170,000, Eden=$150,000, Samara=$250,000 and Joy=$160,000) Charitable Donations (added back to Division B income for tax purposes.......15,000 Financial results for the year ended December 31, 2016 are as follows: Net income per financial statements.................................................................$60,000 Charitable Donations (deducted from accounting income)..............................2,000 Drawings: Isabelle.....................................................................................................................10,000 Samara.....................................................................................................................5,000 Eden.........................................................................................................................5,000 Joy...........................................................................................................................4,000 Other information: Isabelle is single, and has interest income of $2,500 for the year 2016 Samara has interest income of $6,600, and is allowed a deduction of $16,000 for child care in 2016. She has made an RRSP contribution in 2016 of $2,700 (her 2015 earned income was $15,000) You have agreed to do the following: Compute the partnership income for the year ended December 31, 2016, and the income to be allocated to the partnersAdvise on the tax consequences to Samara and Isabelle as a result of the disposition of their Partnership interests in 2016Compute Samara's and Isabelle's taxable income and tax payable for 2016 using the hypothetical provincial tax rate table presented below: Taxation income : Tax : $45,282 or less 10% In excess of $45,282 $4,528 + 12% on the next $45,281 In excess of $90,563 $9,962 + 15% on next $49,825 In excess of $140,388 $17,436 + 17% on next $59,612 In excess of $200,000 $27,570 + 17% on remainder