Question & Answer

Name some of the FMS software and control functions

In 2014, Hollis Corporation reported net income of $1,000,000. It declared and paid preferred stock dividends of $250,000. During 2014, Hollis had a weighted average of 190,000 common shares outstanding. Compute Hollis’s 2014 earnings per share.

Why are inventories valued at the lower-of-cost-ormarket? What are the arguments against the use of the LCM method of valuing inventories?

Solve Problem 33.3, except using the following additional information. It is known that the diameter of the filament fed into the extruder workhead is 1.25 mm, and the filament is fed into the workhead from its spool at a rate of 30.6 mm of length per second while the workhead is depositing material. Between layers, the feed rate from the spool is zero.

Name some of the important mechanical and physical properties that affect the machinability of a work material

Why might changes in the unemployment rate not match one-for-one changes in the output gap?

In a turning operation on low carbon steel (175 BHN), cutting speed = 400 ft/min, feed = 0.010 in/rev, and depth of cut = 0.075 in. The lathe has a mechanical efficiency = 0.85. Based on the unit horsepower values in Table 21.2, determine (a) the horsepower consumed by the turning operation and (b) the horsepower that must be generated by the lathe.

Why are agricultural prices subject to greater fluctuations than those of manufactured products?

Jeremy and Alyssa Johnson have been married for five years and do not have any children.  Jeremy was married previously and has one child from the prior marriage.  He is self-employed and operates his own computer repair store.  For the first two months of the year, Alyssa worked for Office Depot as an employee.  In March, Alyssa accepted a new job with Super Toys Inc. (ST), where she worked for the remainder of the year.  This year, the Johnsons received $255,000 of gross income.  Determine the Johnsons’ AGI for 2024 given the following information:

Assume that there are several chemical firms in an industry, each one producing different levels of an effluent, whose damage to the environment depends on the location of the firm. Compare the relative merits of using green taxes, tradable permits and controls as means of achieving the socially optimum levels of effluent from these firms.

How do the tax laws treat family members for purposes of limiting the number of owners an S corporation may have?

What are the three basic steps in the conventional powder metallurgy shaping process?

Money that individual and institutional investors previously invested in stocks is now being invested in private equity funds. Explain why this should result in improved business conditions. (LO5)

Use a stock valuation framework to explain why the Sarbanes-Oxley Act (SOX) could improve the valuation of a stock. Why might SOX cause a reduction in the valuation of a stock? (See the chapter appendix). (LO1)

Economists sometimes refer to the ‘twin characteristics of economic growth’. What are these characteristics?

Assume a calendar-year corporation has a deficit in current E&P of ($120) and positive accumulated E&P of $120. Under this circumstance, a cash distribution of $120 to the corporation’s sole shareholder on June 30 will not be treated as a dividend because E&P on December 31 is $0. True or false? Explain.

Explain why Congress allows taxpayers to deduct interest forfeited as a penalty on the premature withdrawal from a certificate of deposit.

What are the functions of a grinding fluid?

(i) What do you understand by the term financialisaton? (ii) How might we assess the financial well-being of households?

1.      Rufus is a one-quarter partner in the Adventure Partnership. On January 1 of the current year, Adventure distributes $13,000 cash to Rufus in complete liquidation of his interest. Adventure has only capital assets and no liabilities at the date of the distribution. Rufus’s basis in his partnership interest is $18,500. a.    What are the amount and character of Rufus’s recognized gain or loss? b.   What are the amount and character of Adventure’s recognized gain or loss? c.    If Rufus’s basis is $10,000 at the distribution date rather than $18,500, what are the amount and character of Rufus’s recognized gain or loss?

Matt and Lori recently were divorced.  Although grief stricken, Matt was at least partially comforted by his monthly receipt of $10,000 alimony.  He was particularly excited to learn from his friend, Denzel, that the alimony was not taxable.  Use an available tax service to determine if Denzel is correct.  Would your answer change if Matt and Lori continued to live together?

Explain Congress’s rationale for depreciation recapture.

Would the adoption of improved working conditions necessarily lead to higher labour costs per unit of output?

On July 1, 2014, Crowe Co. pays $15,000 to Zubin Insurance Co. for a 3-year insurance policy. Both companies have fiscal years ending December 31. For Crowe Co., journalize the entry on July 1 and the adjusting entry on December 31.

Indicate three reasons why a company might sell its receivables to another company.