Acct Unit 1 Homework Assignment 06/12/15 Question 1: Brady Brothers, a partnership, has total assets of $350,000 and $100,000 of owners’ equity. What are the partnership’s total liabilities? $350,000 – Liabilities = $100,000 $350,000 - $100,000 = $100,000 - $100,000 Answer: $250,000 = Liabilities Question 2: During the first month of operation, Brady Brothers made sales to customers totaling $12,000 but received only $6,000 from customers in cash. Brady Brothers incurred $8,000 for operating expense but only paid $5,000 in cash for those expenses. What was Brady Brothers cash basis income?
* June 2011, Netcrawler granted Michelle an employee stock option, valid until 2013 to acquire up to 1,000 common shares of Netcrawler at $20 per share. * April 30, 2012, Michelle exercised her stock option and acquired 1,000 common shares of Netcrawler at $20. * Michelle already owned 1,000 Netcrawler shares she previously brought from ex-employee for $10,000 * On same day she exercised her option, Michelle sold all 2,000 Netcrawler shares for $70,000 to an arm’s length party. Issue to analyze Michelle will like to know the tax consequence of her buying 1,000 shares of Netcrawler and selling 2,000 shares in the same year. Analysis based on above information Michelle is deemed to have received a benefit under 7(1), an employee acquiring the shares of an employer is said to not be dealing at arm’s length.
September 22 2013 TAX FILE MEMORANDUM To: Tax Memorandum – Junk File Subject: TaxQuestions@homesale Summary of Facts: Mr. Junkiewicz and his wife bought their current home in year 2000 with $300,000 cash. There was no mortgage. Improvements made to the house was a $25,000 sun room paid in cash. They are in the 30% percent tax bracket. In 2013 the couple sold their house for $500,000 and bought a new house for $700,000 in cash.
We estimated how many customers we need to breakeven each year. Cash flow Projection for five years Cash Flow Analysis Year 1 Beginning Balance $0 Capital $10,000 Revenue (10 Clients) 59,700 $66,700 Disposables Purchases 49,700 Administrative $7,400 (Advertising 200, Other costs 200, Airlines 1,000, Office 6000) Wages $4,000 (2,000 each for Benny and Janet) $61,100 Ending Balance $5,600 Year 2 Beginning Balance $5,600 Revenue (15 Clients) $89,550 $93,150
Five days after the meeting Torricelli gave $10,000 contribution to Blagojevich’s reelection campaign. • Also used his campaign funds to influence there issues linked to his business which helped the New Jersey State Senate pass a cable television bill that included the weekend provisions sought by Cabletelevision and helped favor Cabletelevision , which made a $162,000 contribution to Torricelli campaign in 2002. • Federal Government permits retired officials to give leftover campaign funds to charities, candidates, and political parties. • Torricelli only contributed to the people he knew or with whom he shared policy
A commitment was made for 29 of the 47 luxury suites in the new ballpark at prices from $600,000 and $800,000 and will have a 74 seat club which would be priced at $700 per ticket. For ordinary seats, the club would send out a relocation plan. There would be about 11000 non-premium seats at field level and 12000 at the main level. In the final season of the current stadium, the team had 162 legend seats priced at $1000 a game. Behind that are 3000 Field Champion seats, which were sold for $250 a game this year as part of seasons tickets.
ASX Release For Release: 8 February 2013 ANZ pro forma cash profit excel template ANZ advised at the time of its Full Year Result in October 2012 that the Group would be adopting Cash Profit reporting in Financial Year 2013. To assist analysts and investors, ANZ has today released a pro forma FY12 Cash Profit template. As usual a set of key table templates containing prior period numbers will be provided ahead of the 2013 Half Year result. A short teleconference hosted by the Chief Financial Officer Shayne Elliott and Deputy Chief Financial Officer Shane Buggle will be held at 12.45pm to discuss the template released today. A replay will be available on the ANZ website later this afternoon.
Clay Club Minutes: Tuesday October 9, 2012 1. Meeting began at 4:50 and attendance sheet was passed around. 2. SOFA Chicago Trip will be November 1st through 4th: - Confirm that you will attend: Clay Club members must confirm that they are going by Tuesday, October16. Be sure to include your first and last name and your banner ID #.
This is an interview that was conducted on Friday May 12, 2013 at 8:30 P.M. in Murfreesboro, TN at the home of Barry Ferguson. Barry was chosen for the interview because of his many changes in political views, his available schedule, the friendship that we have, and because he lives next door to me making it convenient. . Barry owns a title company and is also a semi-retired professional musician. When Reagan was elected in 1980 Barry had just come of Tammy Wynette’s tour and was 23 years old.
[1] The observatory and accompanying exhibits were opened to the public on May 14, 1935. In its first five days of operation the observatory logged more than 13,000 visitors. Dinsmore Alter was the museum's director during its first years; today, Dr. Ed Krupp is the Director of the Observatory. Contents [hide] 1 Exhibits 1.1 Renovation and expansion 2 Visiting Griffith Observatory 3 Filming location 4 Popular culture references 5 Gallery 6 See also 7 References 8 External links [edit] Exhibits The first exhibit visitors encountered in 1935 was the Foucault pendulum, which was designed to demonstrate the rotation of the Earth. [3] The exhibits also included a twelve-inch (305 mm) Zeiss refracting telescope in the east dome, a triple-beam coelostat (solar telescope) in the west dome, and a thirty-eight foot relief model of the moon's north polar region.