Green Belt Certification: Introduction Phase
This type of approach is useful when there is a
need for a process that does not currently
exist.
Quick Win
DMAIC
Process Design
Process Redesign
Infrastru
PROBLEMS 29. a. Amount realized Adjusted basis Realized loss Recognized loss $210,000 (250,000) ($ 40,000) ($ 0)
Presuming both properties are held as investments, the exchange qualifies for 1031 post
PROBLEMS 31. Since Sue-Jen elected to treat the cutting as a sale, the recognized gain and loss are calculated as follows: a. and b. 2007: $0 recognized gain or loss. 2008: A 1231 gain of $30,000 is r
PROBLEMS 33. The at-risk rules limit Freds deductions. He can deduct $35,000 in 2008, thereby reducing his at-risk amount to $15,000 ($50,000 original investment $35,000 deducted). He will be limited
CHAPTER 9
INVENTORIES: ADDITIONAL VALUATION ISSUES
TRUE-FALSEConceptual
Answer
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PROBLEMS 28. The $50,000 in medical bills paid by Eds employer cannot qualify as a nontaxable gift. (However, medical expenses subject to the 7.5% floor may qualify as an itemized deduction for Ed.) T
PROBLEMS 33. Since these expenses relate to Sandras law practice, all are deductible in calculating her AGI. Therefore, they reduce AGI by $4,225. Conference registration ($800 + $800) Airline tickets
PROBLEMS 31. Cost of asset $100,000
Less: Greater of allowed and allowable cost recovery: 2007 $ 455 2008 3,636 Basis at the end of 2008 Less: Cost recovery for 2009 ($100,000 3.636% .5/12) Basis on d
PROBLEMS 19. All the assets are capital assets because they do not fit any of the items listed in 1221 as not capital assets. The antique truck is a collectible. Therefore, the $12,000 loss ($35,000 s
PROBLEMS 32. Hoffman, Smith, and Willis, CPAs 5191 Natorp Boulevard Mason, OH 45040 January 29, 2009 Mr. John Johnson 100 Tyler Lane Erie, PA 16563 Dear Mr. Johnson: This letter is to inform you of th
CHAPTER 7
CASH AND RECEIVABLES
TRUE-FALSEConceptual
Answer
T F F F F T F F T T T F F T F F T F T F
No.
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20.
Description
Items consider