...Homework 6 Chapter 5 5-11) The Supreme Court ruled in the Corn Products case that the gain due to the future contracts are ordinary rather than capital gains and losses because they purchased the future contracts to ensure that they had an adequate supply of raw materials. This allowed for the delivery of the corn to be accepted when needed for the manufacturing and the contracts that were not needed were sold. 5-49) 2008 2009 2010 2011 AGI $50,000 $65,000 $69,200 $86,000 (40,000+4,000+6,000) (50,000+5,000+10,000) (60,000+7,000+2,200) (70,000+10,000+6,000) STCL -$5,000 $2,000 $2,000 -$2,000 (9000-4000) (5000-3000) (7000-5000) (12000-10000) LTCL $1,000 -$11,000 $1,200 -3,500 (6000-5000) (21000-10000) (2200-1000) (9500-6000) 5-50) Michigan should lower the cost in order to offset the losses. By them bankrupt they don’t have anything that is worthy of someone purchasing. In turn, they can gift each business to another person or company in order to get rid of them and not have anything else to do with the losses. They are giving them the extra raw materials as well. In turn, the new parties can turn the businesses around and hopefully allow the businesses to make money. They still have to deal with the bankruptcy, so they can keep what stock they have and once the businesses turn around they can conclude what’s due, if anything due to the...
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...This short story follows the main character Sissie during four different summers at the lakefront. Joyce Carol Oates numbered separated each summer which was easy to follow. Each summer shows the growth of Sissie and her transition from a young teenage girl to more mature young woman nineteen years of age. The first summer Oates shows the shy innocence of Sissie. A young teenage girl that sticks closer to her mother as she observes her father, mother and friends hanging out at the lakefront tavern. It seems to be a holiday of some sorts, Sissy sits close to her mother, “I lean against Ma’s warm leg” (Oates 286) and she observes the adults sitting out and looking at the parade, drinking beer, talking and playing cards. Her innocence as a young teenager is shown when she was offered a sip of beer. She did not like the taste and thought it to be ugly. At the end of section for the first summer, Oates shows Sissy’s innocence as more of an observer instead of being more involved. As she stands on the...
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...her new productivity? c) What will be the percentage increase in productivity if Lori makes the change? PX 1.7 George Kyparisis (using data from Problem 1.6) determines his costs to be as follows: Labor: $10 per hour Resin: $5 per pound Capital expense: 1% per month of investment Energy: $.50 per BTU Show the percent change in productivity for one month last year Versus one month this year, on a multifactor basis with dollars as the common denominator. PX 1.9 Lillian Fok is president of Lakefront Manufacturing, A producer of bicycle tires. Fok makes 1,000 tires per day with the following resources: Labor: 400 hours per day @ $12.50 per hour Raw material: 20,000 pounds per day @ $1 per pound Energy: $5,000 per day Capital costs: $10,000 per day a) What is the labor productivity per labor-hour for these tires at? Lakefront Manufacturing? b) What is the multifactor productivity for these tires at? Lakefront Manufacturing? c) What is the percent change in multifactor productivity if Fok can reduce the energy bill by $1,000 per day without cutting production or changing any other inputs? PX 1.11 Munson Performance Auto, Inc., modifies 375 autos per year. The manager, Adam Munson, is interested in obtaining a measure of overall performance. He has...
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...her new productivity? c) What will be the percentage increase in productivity if Lori makes the change? PX 1.7 George Kyparisis (using data from Problem 1.6) determines his costs to be as follows: Labor: $10 per hour Resin: $5 per pound Capital expense: 1% per month of investment Energy: $.50 per BTU Show the percent change in productivity for one month last year Versus one month this year, on a multifactor basis with dollars as the common denominator. PX 1.9 Lillian Fok is president of Lakefront Manufacturing, A producer of bicycle tires. Fok makes 1,000 tires per day with the following resources: Labor: 400 hours per day @ $12.50 per hour Raw material: 20,000 pounds per day @ $1 per pound Energy: $5,000 per day Capital costs: $10,000 per day a) What is the labor productivity per labor-hour for these tires at? Lakefront Manufacturing? b) What is the multifactor productivity for these tires at? Lakefront Manufacturing? c) What is the percent change in multifactor productivity if Fok can reduce the energy bill by $1,000 per day without cutting production or changing any other inputs? PX 1.11 Munson Performance Auto, Inc., modifies 375 autos per year. The manager, Adam Munson, is interested in obtaining a measure of overall performance. He has...
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...The Socio-Economical and Environmental Revitalization of Waukegan, its Lakefront & Superfund Sites Waukegan is a Suburb of 8 miles south of the Wisconsin boarder and north of Chicago along the lakefront. Waukegan is the 9th largest city in Illinois with a population of 88,826 people. It is the 5th largest city along Lake Michigan’s west shoreline. Waukegan has been known as the “rustbelt” of Lake Michigan. This is due to its history of industry. Through the involvement of Local & Federal Agencies, Companies and the Community Waukegan has made strides in the last 30 years to clean up 3 Superfund Sites, setting a stage for the city to Revitalize and become the “French Rivera of the Midwest” like Mayor Robert Sabonjian had envisioned in 1986. In 2003 the city of Waukegan created a Master Plan and from that a general implementation of their Master Plan. This includes strengthen the existing Downtown by activating storefronts on Genesee Street to support and respond to the re-opening of the Genesee Theatre and create a parking structure to support the Genesee Theatre (completed). The Harbor front transformation will begin with the reconfiguration of the Amstutz Expressway and rail lines and yards. They will also work to unlock the Lakefront for public use and future private investment. Next they will work to create new opportunities in Downtown and the South Lakefront by redeveloping three Sheridan Road sites in downtown for a variety of uses ranging from housing to office...
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...Assignment 1: At the Lakefront Due Week 5 and worth 200 points Think about your own personal tax situation. Then using this as a starting point, research tax implications for the three (3) situations below. Write an 8-10 page paper in which you: 1.Determine the best way to address a $280K windfall from a business trip to Las Vegas in which you incurred $1,846 in expenses. 2.Describe how you would minimize tax exposure on the purchase of an undeveloped lakeshore lot valued at $280,000. 3.Discuss the best way to address running your $36,000 race boat (that you built at your new lakefront property) into a pier – completely totaling your investment. Your assignment must: •Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. •Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are: •Explain the key components of the federal income tax system. •Conduct basic tax research and tax planning on individual federal taxation issues. •Demonstrate how to determine individual income tax. •Describe the inclusions and exclusions of gross income. •Analyze deductions...
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...boxes/40 hours | | New productivity =3.125 boxes per day | | | | | c) What will be their unit increase in productivity per hour? | | | | Productivity per hour at 120 boxes = 3 boxes | | Productivity per hour at 125 boxes = 3.125 boxes | | Increase in productivity = 3.125-3 | | Increase in productivity = 0.125 boxes per day | | | d) What will be their percentage change in productivity? | | | | Productivity 120 boxes= 3 boxes per hour | | Productivity 125 boxes= 3.125 boxes per hour | | Change in productivity = 3.125-3/3 | | Change in productivity = 0.125/3 | | Change in productivity = 0.0416 or 4.167% | | | | The increased of productivity = 4.167% | 1.9 Lillian Fok is president of Lakefront Manufacturing, | a producer of bicycle tires. Fok makes 1,000 tires per day with the | following resources: | | | | | | | | | Labor: | 400 hours per day @ $12.50 per hour | | Raw material: | 20,000 pounds per day @ $1 per pound | | Energy: | $5,000 per day | | Capital costs: | $10,000 per day | | | | | |...
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...A Call to Action Feven Berhane Honors 1000 Thursday Seminar December 1, 2011 America promises so many opportunities and wealth, that here, a homeless man like Chris Gardner could become a millionaire. Yet when one walks down the streets of a city, it seems that this amazing story is, rather, an extremely rare occurrence. This idea set with the backdrop of a picture perfect suburb can perhaps hold true. However, when it is juxtaposed with makeshift homes made of tents and a couple of personal belongings, this promise seems nothing but shallow. There are many homeless individuals, and now a growing number of families, living on our streets, and their future is bleak. This is a terrible reflection of a country that has so great to offer so something must be done to try to solve this issue. In Detroit, through services like transition homes and shelters, Detroit Rescue Missions Ministries, though not perfect, is doing an efficient job dealing with homelessness. To understand the impact Detroit Rescue Missions Ministries (DRMM) has had, it is important to understand homelessness and its causes. There are “643,067 people experiencing homelessness on any given night” in this country and 37% are families (End Homelessness). Homelessness is caused by poverty and the inability to afford housing. The U.S. Department of Housing and Urban Development (HUD) “calculates that a family with one full-time, minimum-wage worker can't afford a two-bedroom apartment anywhere in the country”...
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...The Chicago River essentially has been known in different parts of the city to be very dirty and unhealthy to the environment. In 1850, those who were wealthy in Chicago lived alongside Lake Michigan because there was less exposure to pollution, while the poor people lived along the river since they couldn’t afford to live on the lakefront and that was the only space left. As Chicago began to expand, the sewage would flow directly into the river, first through trenches and roads, and then through the sewers. Waste and materials were also dumped into the river causing people to believe that this was the source for Cholera, Typhoid fever, and other waterborne...
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...America was a prideful place and was aware of its growing strength. The fair was to celebrate the 400th anniversary of Christopher Columbus’s arrival in the new world, it fair ran for 6 months and had 30 million visitors, it was also the 15th world’s fair to date and Americas second world’s fair. The fair had an effect on the architecture, Chicago’s self-image and the American industrial optimism. The goal of the world’s fair in Chicago was to beat the one in France when the revealed the Eiffel Tower. There were many errors along the way due to the cost of more money and the poor planning. The fairs influence on American culture included products and inventions that were then introduced in a festive atmosphere, it also was a success to American...
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...A stereotypical part of everyone’s American dream is the ability to go to a college or university and obtain a degree and further their lives. Since this idea was popular enough to become a stereotype, people must have a reason for including it. Mine is simple, I have a passion. My earliest memories of my obsession with the natural world stem from when I must of been four or five, waddling around my uncle’s backyard. I engrossed myself in every detail of his lakefront backyard, flowering bladderwort on the lake, tiny juvenile American toads hopping around my feet, and towering pitch pines above my head; I was in heaven. Next I start exploring the 171 acres of wildlife refuge known as Cedar Run, sitting right in my own backyard. Visiting the...
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...Hunter, 3rd Legislative District, Business Manager & Fundraising committee; See English Accounting & Tax Services, Chicago Housing Authority Alumni, Member, DuSable High School Alumni Association, Butterflies Breast Cancer Awareness Walk-A-Thon and Cathedral Missionary Baptist Church. Martina is a member of Apostolic Church of God, Chicago, IL. One of her favorite bible verses is Proverbs 3:5-6 - Trust in the Lord with all your heart, and lean not on your own understanding: In all your ways acknowledge Him, And He shall direct your paths.” She is a proud mother of one adult son and grandmother of three wonderful teen grandsons. In her spare time, she enjoys, family and friends, traveling, Zumba, Chicago Style Stepping, walking on lakefront and being a Chauffeur for her grandsons. ...
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...around a pole. The car is missing a rear view mirror, has a shattered windshield, dented in the hood, and bent at an impossible angle. It is almost folded completely in half. At first glance it gives the viewer the impression that it is two cars, not one, because we can see both the front and the back at the same time. When I saw it first, I couldn’t help but wonder if it was placed there for drunk driving awareness, to remind casual lake visitors that life is precious and short, or simply there because some artist really wanted to bend a car. Regardless of the reason, the car makes the viewer feel uncomfortable. It brings emotions associated with crisis, fear, and death. These are emotions that dramatically clash with the charming lakefront. The whole statue just feels odd, unbalanced, and out of place. This building is beautiful. It almost resembles a flying fairy tale ship that will take you away to a magical land. The shape on the lake side looks like a massive white and glass boat coming out of a see of manicured green grass. The illusion that it is going to fly away is fitting because it has giant wings that open and close every day at sunrise and sunset. The magnitude of the wings and their elegant suspension system is specifically designed to be a focal point. It is an incredible piece of art on the skyline of Milwaukee. The building’s giant blue windows very in shapes and sizes. They create an uneven slanted linear pattern across the sides of the building...
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...a mixture of bookstore and coffee house. Coffee house, business mission Novel Beans is an exclusive bookstore plus coffee house mixture that is opening in the downtown area of Madison, Wisconsin. Novel Beans is situated on a fine trafficked street straight in the main shopping area of Madison, situated close to the capitol construction. The society is completed up of eclectic shops, restaurants, bars and companies that are geared in the direction of the ample university residents that live openly in this area. Madison has the University of Madison, Madison Area Technical College and a mixture of lesser known tech schools in the area that create a residents of tens of thousands students that reside inside the capital and lakefront region. A large mass of these students rely on bicycles, mopeds or walking to obtain to classes and their employment, and most of them go across...
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...ACCOUNTING HOMEWORK September 16 2014 Toolbox Practice Problem 1 Elaine Consulting incorporated on February 1, 2015. The company engaged in the following transactions during its first month of operations. Feb. 1 Issued capital stock in exchange for $800,000 cash Feb. 5 Borrowed $100,000 from the bank by issuing a note payable. Feb. 8 Purchased land, building, and office equipment for $750,000. The value of the land was $150,000, the value of the building was $540,000, and the value of the office equipment was $60,000. The company paid $200,000 cash and issued a note payable for the balance. Feb. 11 Purchased office supplies for $800 on account. The supplies will last for several months. Feb. 14 Paid the local newspaper $500 for a full-page advertisement. The ad will appear in print on February 18. Feb. 20 Several of the inkjet printer cartridges that were purchased on February 11 were defective. The cartridges were returned and the office supply store reduced the company’s outstanding A/P balance by $200. Feb. 22 Performed consulting services for $14,000 cash. Feb. 24 Billed clients $16,000. Feb. 25 Paid salaries of $12,000 Feb 28 Paid the entire outstanding balance owed for office supplies purchased on February 11. REUIRED 1. Prepare journal entries for the above transactions. 2. Post each entry to the appropriate ledger accounts (use the T-account format). 3. [Prepare a trial balance—we will do this during class] Toolbox Practice Problem 2 Hult...
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