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Corporate Finance
Jim Matthews, vice president for marketing of the J. R. Nickel Company, is planning advertising campaigns for two unrelated products. These two campaigns need to use some of the same resources.
Consider the following nonlinear programming problem. Maximize.......Profit = x5 - 13x4 + 59x3 - 107x2 + 61x subject to 0 ≤ x ≤ 5 a. Formulate this problem in a spreadsheet and then use the
Consider the following nonlinear programming problem. Maximize..........Profit = 100x6 - 1,359x5 + 6,836x4 - 15,670x3 - 15,870x2 - 5,095x subject to 0 ≤ x ≤ 5 a. Formulate this problem in a
Reconsider the portfolio optimization problem considered in Section 8.5, where the goal was to select the portfolio that beat the market for the largest number of quarters over the last six years.a.
Reconsider the portfolio optimization problem considered in Section 8.5, where the goal was to select the portfolio that beat the market for the largest number of quarters over the last six years. a.
The J. P. Atkins Company will soon be introducing a new product. Estimates have been made of the monthly profit that would be generated by this product for each of four alternative values of the
Consider the following three cases for how the profit from an activity varies with the level of the activity.a. For each case, draw the profit graph by plotting the profits for the various levels of
List the steps of intelligence creation and use.
The Chiplet Corporation is about to launch the production and marketing of a new microchip that is more powerful than anything that is currently on the market. Not surprisingly, the profitability of
The following table shows the estimated daily profit from a new product for several of the alternative choices for the production rate.Production Rate (R)
Read the referenced article that fully describes the management science study summarized in the application vignette presented in Section 8.2. Briefly describe how nonlinear programming was applied
You are using the moving-average forecasting method based on sales in the last three months to forecast sales for the next month. When making the forecast for last month, sales for the third month
After graduating from college with a degree in mathematical statistics, Ann Preston has been hired by the Monty Ward Company to apply statistical methods for forecasting the company's sales. For one
You are using the moving-average forecasting method based on the last four observations. When making the forecast for the last period, the oldest of the four observations was 1,945 and the forecast
Reconsider the Super Grain Corp. case study as presented in Section 3.1. The advertising firm, Giacomi & Jackowitz, now has suggested a fourth promising advertising medium-radio commercials-to
Refer to Problem 1.1. A sales forecast has been obtained that indicates that 4,000 units of the new product could be sold. This forecast is considered to be quite reliable, but there is considerable
Consider a resource-allocation problem having the following data.Contribution per unit = profit per unit of the activity.a. Formulate a linear programming model for this problem on a spreadsheet.b.
A reliable sales forecast has been obtained indicating that the Special Products Company (see Section 1.2) would be able to sell 30,000 iWatches, which appears to be enough to justify introducing
What is an RDW?
Consider a resource-allocation problem having the following data.Contribution per unit = profit per unit of the activity.a. Formulate a linear programming model for this problem on a spreadsheet.b.
The Omega Manufacturing Company has discontinued the production of a certain unprofitable product line. This act created considerable excess production capacity. Management is considering devoting
Ed Butler is the production manager for the Bilco Corporation, which produces three types of spare parts for automobiles. The manufacture of each part requires processing on each of two machines,
Consider the following algebraic formulation of a resource-allocation problem with three resources, where the decisions to be made are the levels of three activities (A1, A2, and A3). Maximize Profit
Read the referenced article that fully describes the management science study summarized in the application vignette presented in Section 3.3. Briefly describe how linear programming was applied in
Consider a cost-benefit-trade-off problem having the following data.a. Formulate a linear programming model for this problem on a spreadsheet.b. Use the spreadsheet to check the following solutions:
Consider a cost-benefit-trade-off problem having the following data.a. Formulate a linear programming model for this problem on a spreadsheet. b. Make five guesses of your own choosing for the
Fred Jonasson manages a family-owned farm. To supplement several food products grown on the farm, Fred also raises pigs for market. He now wishes to determine the quantities of the available types of
Maureen Laird is the chief financial officer for the Alva Electric Co., a major public utility in the Midwest. The company has scheduled the construction of new hydroelectric plants 5, 10, and 20
Web Mercantile sells many household products through an online catalog. The company needs substantial warehouse space for storing its goods. Plans now are being made for leasing warehouse storage
How is descriptive analytics different from traditional reporting?
Consider the following algebraic formulation of a cost- benefit-trade-off problem involving three benefits, where the decisions to be made are the levels of four activities (A1, A2, A3, and
Larry Edison is the director of the Computer Center for Buckly College. He now needs to schedule the staffing of the center. It is open from 8 am until midnight. Larry has monitored the usage of the
Joe purchased a van for $30,000 on February 1, 2015, for use with his business, Crew Airport Transport. Joe elected to take the § 179 deduction for the entire cost. On January 1, 2017, Joe sold the
In 2017, Colossus Corporation incurred a net capital loss in the amount of $25,000. Colossus had the following net capital gains in the previous five years: 2016: $7,000 2015: $2,000 2014:
Using the facts of Problem 12, determine the 2016 end-of-year balance in Mini's deferred tax asset and deferred tax liability balance sheet accounts. Mini, Inc., earns pretax book net income of
One income exclusion that some states allow that the federal government does not is for lottery winnings. Does your state have an exclusion for lottery winnings? If so, how does it work? Why do you
The Federal government incurs a cost for every item that is deductible in the computation of taxable income. These costs, which take the form of forgone tax revenue, are often referred to as "tax
Go to www.taxfoundation.org, and determine Tax Freedom Day for your state and a neighboring state for the years 1950, 1960, 1970, 1980, 1990, 2000, and 2010. Report your results as a line graph?"
Although the Federal income tax law is complex, most individual taxpayers are able to complete their tax returns without outside assistance. Gather data as to the accuracy of this statement.
Joey lives in North Carolina, a common law state. He is a shareholder in an S corporation. If he marries a nonresident alien, will the S election terminate? Would your answer change if he lived in
What are possible ways to report actionable information in real time to the concerned users of the system?
On January 1, Bobby and Alicia own equally all of the stock of an electing S corporation called Prairie Dirt Delight. The company has a $60,000 loss for the year (not a leap year). On the 219th day
Many state income tax returns contain checkoff boxes that allow taxpayers to make donations to a multitude of local charitable causes. On what grounds can such provisions be criticized?
Quail Corporation anticipates that being positively perceived by the individual who is elected mayor will be beneficial for business. Therefore, Quail contributes to the campaigns of both the
Isaac and 121 of his close friends want to form an S corporation. Isaac reasons that if he and his friends form a partnership, the partnership then can establish an S corporation and act as a single
As of January 1, 2016, Kirk owned all 300 shares of Cork, Inc., a calendar year S corporation. On September 1, 2016 (243 days after January 1), Kirk sold 50 shares each to Steve and Moe and kept the
Shareholders of Rayle Co, a calendar year corporation whose S status was terminated during 2017, are looking to reapply for the S status as soon as possible. What is the earliest year a new S
USCo, a domestic corporation, reports worldwide taxable income of $500,000, including a $300,000 dividend from ForCo, a wholly owned foreign corporation. ForCo's undistributed E & P totals $1
Chock, a U.S. corporation, purchases inventory for resale from distributors within the United States and resells this inventory at a $1 million profit to customers outside the United States. Title to
Willa, a U.S. corporation, owns the rights to a patent related to a medical device. Willa licenses the rights to use the patent to IrishCo, which uses the patent in its manufacturing facility located
Mary, age 60, reported adjusted gross income of $150,000 for the year. Mary also incurred $20,000 in medical expenses. In computing Mary's alternative minimum tax, what is the adjustment for Mary's
Why is it difficult to justify BI applications?
Which of the following is excluded from gross income on an individual's 2017 tax return? a. January 2018 rent received in December 2017. b. Value arising from personal use of company vehicle in
Bob owns a collection agency. He purchases uncollected accounts receivable from other businesses at 60% of their face value and then attempts to collect these accounts. During the current year, Bob
On the night of October 14, 2017, a hurricane caused serious damage to Paige's personal vehicle and to the roof of her personal residence, a townhome. Just prior to the hurricane, Paige had a
Before any debt cancellation, PeppersCo holds business land with a $2.4 million fair market value, a $1 million tax basis, and a related mortgage of $3 million. In lieu of foreclosure, the lender
Determine the treatment of a loss on rental property under the following facts: Basis ................................................ $650,000 FMV before the loss ...............................
Lee, a married individual, is an employee with three rental properties in which Lee does not actively participate. In 2017, Property 1 had a net loss of $10,000, Property 2 had a net gain of $25,000,
Hank's home is burglarized on December 22, 2017. Personal property with a fair market value of $40,000 and an adjusted basis to Hank of $25,000 is stolen. Hank paid an independent appraiser $700 on
Sophia lives several blocks from her parents in the same residential subdivision. Sophia is surprised to learn that her ad valorem property taxes for the year were raised, while those of her parents
Sengupta died on February 1, 2017, and bequeathed two different assets to a beneficiary, Roberts. Asset One was distributed to Roberts on April 24, 2017; Asset Two was distributed to Roberts on
On June 1, 2017, Gary gave Gertrude a gift of stock worth $10,000, paying no gift tax on the transaction. Gary had purchased the stock for $7,500 in 2013. On October 1, 2017, Gertrude sold the stock
What processing technique is applied to process Big Data?
What is a code of ethics? Find a code of ethics for your school, university, or place of employment and identify its key tenets.
A local government imposed a new 2 percent tax on the gross receipts of businesses operating within its jurisdiction. XYZ Company, which manufactures soap and other toiletries, responded to the tax
Mr. W is a professional golfer who played 23 tournaments in 14 different states and earned $893,000 total prize money for the year. When he is not traveling, Mr. W lives with his family in Tucson,
Identify the tax policy issue that you believe is the most important in today's society.
Does the after-tax cost of a deductible expense increase or decrease as the taxpayer's marginal income tax rate increases?
In what circumstance is the before-tax cost of an expenditure equal to its after-tax cost?
Does the NPV of future cash flows increase or decrease as the discount rate increases?
Refer to the facts in problem 3. Company WB is considering engaging a CPA to prepare a request for a private letter ruling from the IRS concerning the tax consequences of the business opportunity.
Ms. O is the chief financial officer for Firm XYZ. The marketing department requested approval for an $80,000 cash expenditure. The request points out that the expenditure would be deductible.
At the beginning of the year, Mr. L put $50,000 cash into Investment X. At the end of the year, he received a check for $2,800, representing his annual return on the investment. Mr. L's marginal tax
What is an ODS?
If a trial court decision has been appealed and the appellate court reversed the trial court's decision, which of the two court decisions is considered authoritative? Briefly explain your answer.
Which of the following statements regarding secondary authorities is FALSE? a. Secondary authorities are an excellent starting point in the tax research process. b. Secondary authorities attempt to
Indicate whether each of the following items of IRS administrative guidance should be cited and relied on in researching a tax issue for a taxpayer to whom the item was not directly issued. a.
Guenther is researching a tax issue involving the deductibility of costs to remodel an office building. He has found several authorities permitting such costs to be deducted, and several others
Marvin is researching the tax rules related to Individual Retirement Accounts. He is very confused by the information he has found in the IRC and Treasury regulations regarding deductibility of IRA
Allison works full time as a dental hygienist. She devotes her spare time to designing and creating stained glass pieces. During the past year, she has sold 10 of her pieces at local craft fairs and
Marybeth works as a financial analyst at a brokerage firm. At night, she is taking courses to complete her MBA degree. Her firm pays 50 percent of her tuition cost for these courses, and Marybeth
Natalie appeared on a game show last year and won a car valued at $30,000. After driving it for six months, she sold it for $24,000.
In researching the taxability of noncash compensation, a tax researcher identifies a judicial decision that seems to address the issue at hand. However, the decision was rendered in 1978, and the
Find and provide a citation for the IRC section that defines a capital asset. Be precise in your reference [e.g., Section 61(a)(1), not Section 61].
Dane City's total assessed valuation for all of the property in its jurisdiction is $4,000,000,000. It needs $20,000,000 in revenue for the services it provides its citizens. Joe owns property that
Cameron owns an antique car that she inherited from her father. She is planning to sell it over the Internet and is wondering about the tax consequences of such a sale. If you were to research this
In researching a tax issue, you locate the case Stern, Sidney B. & Vera L., 77 T.C. 614, which seems relevant to your issue. However, before completing your research check the Citator for subsequent
Find and provide a citation for the IRC section that defines taxable income. Be precise in your reference [e.g., Section 61(a)(1), not Section 61].
Find and provide a citation for the IRC section that provides an exclusion from gross income for interest earned on investments in state and local bonds. Be precise in your reference [e.g., Section
Firm LK bought a warehouse of used furniture to equip several of its clerical offices. An employee discovered a cache of gold coins in a desk drawer. A local court declared Firm LK the rightful owner
Corporation DB operates three different lines of business. Can the corporation elect a different overall method of accounting for each line, or must the corporation adopt one overall method?
In 2016, Firm K paid $129,000 real property tax to Jurisdiction J and deducted the payment. In 2017, it successfully contested the property tax assessment. As a result, Jurisdiction J refunded
Corporation WJ began business in 2015 and reported taxable income in both 2015 and 2016. In 2017, WJ incurred a $25,000 net operating loss. It wants to carry the NOL back as a deduction against 2016
Corporation DS owns assets worth $550,000 and has $750,000 outstanding debts. One of DS's creditors just informed DS that it is writing off a $15,000 account receivable from DS because it believes
BL Inc. has been in business since 2000. This year BL's new CPA discovered that it is using an incorrect accounting method for a certain expense. BL is willing to change to the correct accounting
If a taxpayer has $40,000 of employee salary in 2016, how much will be withheld for the Social Security and Medicare taxes?
If the tax law did not allow farming businesses to deduct soil and water conservation expenditures but required capitalization of these costs, in what year or years would farmers recover these costs?
Firm PY purchased industrial equipment from a Canadian vendor. The firm paid $12,800 to transport the equipment to its manufacturing plant in Florida and a $1,700 premium for insurance against
In 2015, Firm Z elected to expense the $8,000 cost of a machine, which it reported as the only item of equipment placed in service that year. This year, the IRS audited Firm Z's 2015 return and
TCJ bought a 10-acre tract of undeveloped land that it intends to improve and subdivide for sale to real estate customers. This year, TCJ paid $4,300 to a local company to clean up the land by
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