Question & Answer

1.    : Studies of women leaders suggest that many of them view power differently than men do and prefer a collaborative, relationship-oriented use of power. If this is the case, what does it suggest about women leaders’ abilities to accomplish goals? What does it suggest about women’s ability to rise to higher organizational levels? Discuss.

Briefly discuss the convergence efforts that are underway in the area of intangible assets.

Think of two things that are provided free of charge. In each case, identify whether and in what form a shortage might occur. In what ways are/could these shortages be dealt with? Are they the best solution to the shortages?

The net income per books of Linda Patrick Company was determined without knowledge of the errors indicated. Net Income Error in Ending Year per Books Inventory 2009 $50,000 Overstated $ 3,000 2010 52,000 Overstated 9,000 2011 54,000 Understated 11,000 2012 56,000 No error 2013 58,000 Understated 2,000 2014 60,000 Overstated 8,000 Instructions Prepare a worksheet to show the adjusted net income figure for each of the 6 years after taking into account the inventory errors.

Cameron purchases stock in Corporation X and in Corporation Y. Neither corporation pays dividends. The stocks both earn an identical before-tax rate of return. Cameron sells the stock in Corporation X after three years, and he sells the stock in Corporation Y after five years. Which investment likely earned a greater after-tax return? Why?

In a surface grinding operation wheel diameter = 150 mm and infeed = 0.07 mm. Wheel speed = 1450 m/min, workspeed = 0.25 m/s, and crossfeed = 5 mm. The number of active grits per area of wheel surface = 0.75 grits/mm2 . Determine (a) average length per chip, (b) metal removal rate, and (c) number of chips formed per unit time for the portion of the operation when the wheel is engaged in the work.

Suppose in the previous problem that a roll spot-welding operation is performed instead of seam welding. The interface resistance increases to 100 micro-ohms, and the center-to-center separation between weld nuggets is 25 mm. Given the conditions from the previous problem, with the changes noted here, determine (a) the proportion of energy generated that goes into the formation of each weld nugget, and (b) the rotational speed of the electrode wheels. (c) At this higher rotational speed, how much does the wheel move during the current on-time, and might this have the effect of elongating the weld nugget (making it elliptical rather than round)?

Recording transactions in the accounting system requires knowledge of the important characteristics of the elements of financial statements, such as assets and liabilities. In addition, accountants must understand the inherent uncertainty in accounting measures and distinctions between related accounting concepts that are important in evaluating the effects of transactions on the financial statements. Instructions Go to http://aaahq.org/asclogin.cfm to log in and provide explanations for the following items. (Provide paragraph citations.) When you have accessed the documents, you can use the search tool in your Internet browser. (a) The three essential characteristics of assets. (b) The three essential characteristics of liabilities. (c) Uncertainty and its effect on financial statements. (d) The difference between realization and recognition.

Karen Sepan, a recent graduate of the local state university, ispresently employed by a large manufacturing company. She has been asked by Jose Martinez, controller, toprepare the company’s response to a current Preliminary Views published by the Financial Accounting Standards Board (FASB). Sepan knows that the FASB has a conceptual framework, and she believes that these concept statements could be used to support the company’s response to the Preliminary Views. She has prepared a rough draft of the response citing the objective of financial reporting. Instructions (a) Identify the objective of financial reporting. (b) Describe the level of sophistication expected of the users of financial information by the objective of financial reporting.

An injection molded polyethylene part has a dimension of 2.500 in. A new material, polycarbonate, is used in the same mold. What is the expected corresponding dimension of the polycarbonate molding?

Corbett’s AMTI is $650,000.  What is his AMT exemption under the following alternative circumstances?

Helaina was just hired by Acme Corporation and has decided to purchase disability insurance. This insurance promises to pay her weekly benefits to replace her salary should she be unable to work because of disability. Disability insurance is also available through Acme as part of its compensation plan. Acme pays these premiums as a nontaxable fringe benefit, but the plan promises to pay about 10 percent less in benefits. If Helaina elects to have Acme pay the premiums, then her compensation will be reduced by an equivalent amount. Should tax considerations play a role in Helaina's choice to buy disability insurance through Acme or on her own? Explain.

It has been suggested that tax policy favors deductions for AGI compared to itemized deductions.  Describe two ways in which deductions for AGI are treated more favorably than itemized deductions

Define precipitation hardening.

Describe the record-keeping requirements for deducting business expenses, including mixed-motive expenditures.

Explain why the failure of Lehman Brothers caused prices on credit default swap contracts to increase. (LO7)

Spartan Corporation redeemed 25 percent of its shares for $2,000 on July 1 of this year, in a transaction that qualified as an exchange under §302(a).  Spartan’s accumulated E&P at the beginning of the year was $2,000. Its current E&P is $12,000.  Spartan made dividend distributions of $1,000 on June 1 and $4,000 on August 31.  Determine the balance in Spartan’s accumulated E&P at the beginning of next year.  See Rev. Rul. 74-338 and Rev. Rul. 74-339 for help in making this calculation.

Describe a situation in which a former C corporation that elected to be taxed as an S corporation may have its S election automatically terminated, but a similarly situated corporation that has always been taxed as an S corporation would not.

Indicate in general journal form how the items below would be entered in a worksheet for the preparation of the statement of cash flows. (a) Net income is $317,000. (b) Cash dividends declared and paid totaled $120,000. (c) Equipment was purchased for $114,000. (d) Equipment that originally cost $40,000 and had accumulated depreciation of $32,000 was sold for

SBT partnership distributes $5,000 cash and a parcel of land with a fair market value of $40,000 and a $25,000 basis to the partnership to Sam (30 percent partner). What factors must Sam and SBT consider in determining the tax treatment of this distribution?

1.       : Explain the basic idea underlying the contingency view. How would you go about identifying key contingencies facing an organization?

1. Trace through the effect of an adverse supply shock, such as a rise in oil prices. 2. What determines the amount that national income fluctuates when there is a temporary shift in the DAS curve?

Seven years ago, Halle (currently age 41) contributed $4,000 to a Roth IRA account. The current value of the Roth IRA is $9,000. In the current, year Halle withdraws $8,000 of the account balance to use as a down payment on her first home. Assuming Halle is in the 24 percent marginal tax bracket, how much of the $8,000 withdrawal will she retain after taxes to fund her house down payment?

In a certain centerless grinding operation, the grinding wheel diameter = 8.5 in, and the regulating wheel diameter = 5.0 in. The grinding wheel rotates at 3500 rev/min and the regulating wheel rotates at 150 rev/min. The inclination angle of the regulating wheel = 3°. Determine the throughfeed rate of cylindrical workparts that have the following dimensions: diameter = 1.25 in and length = 8.0 in

What is wave soldering?