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ACC 547 To exceed, you must read/Uophelpdotcom - Flashcards

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Class:ACCT 351COM - COMM ACCTG
Subject:Accounting
University:California State University - Northridge
Term:Fall 2014
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ACC 547 Entire Course

 For more course tutorials visit

www.uophelp.com

 

ACC 547 Week 1 Individual Assignment Personal Budget, Balance Sheet, and Cash Flow Statement

ACC 547 Week 2 - Problem Set # I5-67, I5-61

ACC 547 Week 2 Individual Assignment Week Two Problem Set 72 , 49 (Ch 2), 40 (Ch 3) 41 (Ch 4)

ACC 547 Week 3 Individual Assignment Problem 67 (Ch. 5), 66 (Ch. 6), 81 (Ch. 8)

ACC 547 Week 3 - DQ I6-23  Problems: I8-40, C3-38, C3-58, & C3-59 ,I10-52 Tax Strategy I13-65

ACC 547 Week 4 Learning Team Assignment Week Four Problem 16 (Ch 14)

ACC 547 Week 4Problems I14-42, Problem C5-36, Problem C6-41, Problem C7-43, Case Study C4-60 Summarize

ACC 547 Week 5 Individual Assignment Week Five Problem 83 (Ch. 15), 39 (Ch. 19)

 

 

ACC 547 Week 1 Individual Assignment Personal Budget, Balance Sheet, and Cash Flow Statement

For more course tutorials visit

www.uophelp.com

 

 

Choose a client or yourself. For confidentiality purposes, use a fictitious name.

Prepare a personal budget, balance sheet, and cash flow statement.

Write a memo that includes the following:

 

  • A summary of the facts, including ages of the client, spouse, and dependents; educational background; income status of client and spouse; and two major concerns and goals.

 

  • Summary of key items and findings from the personal budget, balance sheet, and cash flow statement.

 

Recommendations and support for improving the financial situation

 

ACC 547 Week 2 - Problem Set # I5-67, I5-61

For more course tutorials visit

www.uophelp.com

 

As a political consultant for an aspiring politician, you have been hired to evaluate thefollowing statements that pertain to capital gains and losses. Evaluate the statement andprovide at least a one-paragraph explanation of each statement. As you prepare youranswer, consider the fact that the aspiring politician does not have much knowledgeabout taxation.

  • a.The tax on capital gains is considered a voluntary tax.
  • b.On October 22, 1986, the Tax Reform Act of 1986 was passed, which eliminated the60% of net capital gain deduction (i.e., an individual taxpayer with $10,000 of netcapital gain was entitled to a $6,000 deduction when computing AGI) before January1, 1987. Many state governments enjoyed a substantial increase in 1986 tax revenue.
  • c.High-income taxpayers receive the most benefit from preferential treatment for capitalgains.

Comprehensive Problem I5-61

Betty incurs the following transactions during the current year. Without considering thetransactions, her 2006 AGI is $40,000. Analyze the transactions and answer the follow-ing questions:

•On March 10, 2006, she sells a painting for $2,000. Betty is the artist, and she com-pleted the painting in 2001. Her basis for the painting is $50.

•On June 18, 2006, she receives $28,500 from the sale of stock purchased by her unclein 1996 for $10,000, which she inherits on February 20, 2006, as a result of heruncle’s death. The stock’s FMV on that date is $30,000.•On July 30, 2006, she sells land for $25,000 that was rec
ACC 547 Week 2 Individual Assignment Week Two Problem Set 72 , 49 (Ch 2), 40 (Ch 3) 41 (Ch 4)

For more course tutorials visit

www.uophelp.com

 

Complete the following problems located in Taxation of Individuals and Business Entities:

 

  • Problem 72 (Ch. 2)
  • Problem 49 (Ch. 3)

Comprehensive Problems 40 & 41 (Ch. 4)

 

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ACC 547 Week 3 - DQ I6-23 Problems: I8-40, C3-38, C3-58, & C3-59 ,I10-52 Tax Strategy I13-65

For more course tutorials visit

www.uophelp.com

 

Complete the following in Federal Taxation Comprehensive:

o    Discussion Question I6-23
o    Problems I8-40, C3-38, C3-58, & C3-59
o    Case Study I10-52
o    Tax Strategy Problem I13-65

 

Discussion Question I6-23

Under the related party rules of Sec. 267, why has Congress imposed the concept of constructive
ownership?

Problem I8-40

Amount and Character of Loss Transactions. On September 30 of the current year Silver
Fox Corporation files for bankruptcy. At the time, it estimates that the total FMV of its
assets is $725,000, whereas the total amount of its outstanding debt amounts to
$950,000. Silver Fox Corporation has been engaged in the resale of tax preparation and
tax research-related books and software for several years.
a. At the time of the bankruptcy, Silver Fox is owned by Randall, who purchased the
stock from an investor for $250,000 several years ago. Randall is single. What are the
amount and character of the loss sustained by Randall upon Silver Fox’s bankruptcy?

ACC 547 Week 3 Individual Assignment Problem 67 (Ch. 5), 66 (Ch. 6), 81 (Ch. 8)

For more course tutorials visit

www.uophelp.com

 

 

Complete the following problems located in Taxation of Individuals and Business Entities:

 

  • Comprehensive Problem 67 (Ch. 5)
  • Comprehensive Problem 66 (Ch. 6)

Comprehensive Problem 81 (Ch. 8)

 

ACC 547 Week 4 Learning Team Assignment Week Four Problem 16 (Ch 14)

For more course tutorials visit

www.uophelp.com

 

Complete, individually, Problem 61 in Ch. 14 of Taxation of Individuals and Business Entities.

Respond to all the questions. Support your answers with calculations, as needed.

Discuss your results with your team.  

Decide on a final group submission.

Submit your completed team assignment. 

 

ACC 547 Week 4Problems I14-42, Problem C5-36, Problem C6-41, Problem C7-43, Case Study C4-60 Summarize

For more course tutorials visit

www.uophelp.com

 

ACC 547 Week 4Problems I14-42, Problem C5-36,Problem C6-41, Problem C7-43, Case Study C4-60 Summarize

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ACC 547 Week 5 Individual Assignment Week Five Problem 83 (Ch. 15), 39 (Ch. 19)

For more course tutorials visit

www.uophelp.com

 

Complete the following problems located in Taxation of Individuals and Business Entities:

 

  • Comprehensive Problem 83 (Ch. 15)
  • Problem 39 (Ch. 19)

 

Respond to all questions. Support your answers with calculations, as needed.

 

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 ACC 547 Entire Course

 For more course tutorials visit

www.uophelp.com

 

ACC 547 Week 1 Individual Assignment Personal Budget, Balance Sheet, and Cash Flow Statement

ACC 547 Week 2 - Problem Set # I5-67, I5-61

ACC 547 Week 2 Individual Assignment Week Two Problem Set 72 , 49 (Ch 2), 40 (Ch 3) 41 (Ch 4)

ACC 547 Week 3 Individual Assignment Problem 67 (Ch. 5), 66 (Ch. 6), 81 (Ch. 8)

ACC 547 Week 3 - DQ I6-23  Problems: I8-40, C3-38, C3-58, & C3-59 ,I10-52 Tax Strategy I13-65

ACC 547 Week 4 Learning Team Assignment Week Four Problem 16 (Ch 14)

ACC 547 Week 4Problems I14-42, Problem C5-36, Problem C6-41, Problem C7-43, Case Study C4-60 Summarize

ACC 547 Week 5 Individual Assignment Week Five Problem 83 (Ch. 15), 39 (Ch. 19)

 

 

 ACC 547 Week 1 Individual Assignment Personal Budget, Balance Sheet, and Cash Flow Statement

For more course tutorials visit

www.uophelp.com

 

 

Choose a client or yourself. For confidentiality purposes, use a fictitious name.

Prepare a personal budget, balance sheet, and cash flow statement.

Write a memo that includes the following:

 

  • A summary of the facts, including ages of the client, spouse, and dependents; educational background; income status of client and spouse; and two major concerns and goals.

 

  • Summary of key items and findings from the personal budget, balance sheet, and cash flow statement.

 

Recommendations and support for improving the financial situation

 

 ACC 547 Week 2 - Problem Set # I5-67, I5-61

For more course tutorials visit

www.uophelp.com

 

As a political consultant for an aspiring politician, you have been hired to evaluate thefollowing statements that pertain to capital gains and losses. Evaluate the statement andprovide at least a one-paragraph explanation of each statement. As you prepare youranswer, consider the fact that the aspiring politician does not have much knowledgeabout taxation.

  • a.The tax on capital gains is considered a voluntary tax.
  • b.On October 22, 1986, the Tax Reform Act of 1986 was passed, which eliminated the60% of net capital gain deduction (i.e., an individual taxpayer with $10,000 of netcapital gain was entitled to a $6,000 deduction when computing AGI) before January1, 1987. Many state governments enjoyed a substantial increase in 1986 tax revenue.
  • c.High-income taxpayers receive the most benefit from preferential treatment for capitalgains.

Comprehensive Problem I5-61

Betty incurs the following transactions during the current year. Without considering thetransactions, her 2006 AGI is $40,000. Analyze the transactions and answer the follow-ing questions:

•On March 10, 2006, she sells a painting for $2,000. Betty is the artist, and she com-pleted the painting in 2001. Her basis for the painting is $50.

•On June 18, 2006, she receives $28,500 from the sale of stock purchased by her unclein 1996 for $10,000, which she inherits on February 20, 2006, as a result of heruncle’s death. The stock’s FMV on that date is $30,000.•On July 30, 2006, she sells land for $25,000 that was rec
 ACC 547 Week 2 Individual Assignment Week Two Problem Set 72 , 49 (Ch 2), 40 (Ch 3) 41 (Ch 4)

For more course tutorials visit

www.uophelp.com

 

Complete the following problems located in Taxation of Individuals and Business Entities:

 

  • Problem 72 (Ch. 2)
  • Problem 49 (Ch. 3)

Comprehensive Problems 40 & 41 (Ch. 4)

 

 ACC 547 Week 3 - DQ I6-23 Problems: I8-40, C3-38, C3-58, & C3-59 ,I10-52 Tax Strategy I13-65

For more course tutorials visit

www.uophelp.com

 

Complete the following in Federal Taxation Comprehensive:

o    Discussion Question I6-23
o    Problems I8-40, C3-38, C3-58, & C3-59
o    Case Study I10-52
o    Tax Strategy Problem I13-65

 

Discussion Question I6-23

Under the related party rules of Sec. 267, why has Congress imposed the concept of constructive
ownership?

Problem I8-40

Amount and Character of Loss Transactions. On September 30 of the current year Silver
Fox Corporation files for bankruptcy. At the time, it estimates that the total FMV of its
assets is $725,000, whereas the total amount of its outstanding debt amounts to
$950,000. Silver Fox Corporation has been engaged in the resale of tax preparation and
tax research-related books and software for several years.
a. At the time of the bankruptcy, Silver Fox is owned by Randall, who purchased the
stock from an investor for $250,000 several years ago. Randall is single. What are the
amount and character of the loss sustained by Randall upon Silver Fox’s bankruptcy?

 ACC 547 Week 3 Individual Assignment Problem 67 (Ch. 5), 66 (Ch. 6), 81 (Ch. 8)

For more course tutorials visit

www.uophelp.com

 

 

Complete the following problems located in Taxation of Individuals and Business Entities:

 

  • Comprehensive Problem 67 (Ch. 5)
  • Comprehensive Problem 66 (Ch. 6)

Comprehensive Problem 81 (Ch. 8)

 

 ACC 547 Week 4 Learning Team Assignment Week Four Problem 16 (Ch 14)

For more course tutorials visit

www.uophelp.com

 

Complete, individually, Problem 61 in Ch. 14 of Taxation of Individuals and Business Entities.

Respond to all the questions. Support your answers with calculations, as needed.

Discuss your results with your team.  

Decide on a final group submission.

Submit your completed team assignment. 

 

 ACC 547 Week 4Problems I14-42, Problem C5-36, Problem C6-41, Problem C7-43, Case Study C4-60 Summarize

For more course tutorials visit

www.uophelp.com

 

ACC 547 Week 4Problems I14-42, Problem C5-36,Problem C6-41, Problem C7-43, Case Study C4-60 Summarize

 ACC 547 Week 5 Individual Assignment Week Five Problem 83 (Ch. 15), 39 (Ch. 19)

For more course tutorials visit

www.uophelp.com

 

Complete the following problems located in Taxation of Individuals and Business Entities:

 

  • Comprehensive Problem 83 (Ch. 15)
  • Problem 39 (Ch. 19)

 

Respond to all questions. Support your answers with calculations, as needed.

 

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