ACC 470/570 Winter 2011
Graded Homework 1:
This assignment is due in class on Thursday Wednesday January 26th. The assignment is
to be completed individually. You may consult with classmates to discus
ACC 470/570 Winter 2016
Graded Homework 1:
This assignment is due in class on Wednesday January 27th. The assignment is to be
completed individually. You may consult with classmates to discuss the pro
ACC 470/570 Fall 2013
Graded Homework 1:
This assignment is due in class on Thursday October 17th. The assignment is to be
completed individually. You may consult with classmates to discuss the proble
ACTG 351
Columbia On-Line Networks Case
Due:
Monday, April 15 (at the beginning of class). Also, please be prepared to
discuss the case and your solution in class on this date.
Required:
Refer to the
Solutions to Graded Homework 1
Problem 1:
Cash sales
Municipal bond interest income
Cost of goods sold
Cash payments for utilities
Cash payments for rent
Tax depreciation
Political contribution
OID in
ACC 470/570 Winter 2015
Graded Homework 1:
This assignment is due in class on Wednesday January 28th. The assignment is to be
completed individually. You may consult with classmates to discuss the pro
Solutions to Chapter 3 Problem Assignments
Check Your Understanding
1. [LO 3.1] Realization Principle
Solution: Income is not recognized (included in gross income) until the taxpayer has
realization.
Graded Homework 2
This assignment is due at the beginning of class on Monday February 14th. The assignment is to
be completed individually. You may consult with classmates to discuss the problems, but
Group Activity: Choice of
Ashley runs a small business in Boulder, CO, that makes snow skies. She
Entity to grow substantially over the next 3 years. Because
expects the business
she is concerned abou
Solutions to Chapter 5 Problem Assignments
Check Your Understanding
1. [LO 5.1] Trade or Business
Solution: To be a qualified trade or business, an activity must have a profit motive (to make
money) a
ACTG 470/570
Winter 2015
Practice Problems for Exam 1
(Solutions are on pages 4 and 5)
1. Dorothy purchased a certificate of deposit for $10,000 on January 1, 2014. The
certificate matures in 3 years
1
Term Project 2
Xinyang Tian & Jia Zou
Due: 3/15
Instructor: Christopher Gibbs
E-mail: [email protected]
U.S. Financial Crisis
A very disastrous financial crisis occurred in the US, which began in De
5. Timing of Expense Deduction
Solution: Businesses are not permitted to use reserves for expenses for tax purposes. Aloha
can only deduct the repair expenses in the year the repairs are performed, if
Solutions to Chapter 2 Problem Assignments
18. [LO 2.3] Marginal Tax Rates
Beta Corporation anticipates $800,000 of taxable income for the year before considering
additional projects. What marginal ta
ACTG 470/570
Fall 2013
Practice Problems for Exam 1
(Solutions are on pages 4 and 5)
1. Dorothy purchased a certificate of deposit for $10,000 on January 1, 2013. The
certificate matures in 3 years wh
Solutions to Chapter 6 Problem Assignments
Check Your Understanding
1. [LO 6.1] Basis
Solution: Lindas basis is $30,000, the fair market value at the date of death.
2. [LO 6.1] Depreciation
Solution:
19. Student Loan Interest
Solution: Her deduction is $1,667.50
$130,000 AGI - $120,000 threshold = $10,000 excess
$10,000 excess/$30,000 phase out range = 33.3% phase out
$2,500 maximum ($2,500 x 33.3
Solutions to Chapter 4 Problem Assignments
Check Your Understanding
1. [LO 4.1] Excessive Compensation
Solution: No. Jenny's excess $8,000 [($15 - $7) x 1,000 hours] salary over what other
employees w
18. Taxable Income
Solution: Taxable income = $49,000
$450,000 Gross receipts
minus
145,00 Cost of goods sold
0
equals $305,000 Gross income
plus
20,00 Gain on sale
0
minus
276,00 Expenses
0
equals $4
Solutions to Chapter 8 Problem Assignments
Check Your Understanding
1. [LO 8.1] Gain/Loss Deferral
Solution: Gain or loss on disposal of an asset is usually deferred by adjusting the basis of the
asse
Problem 1
Year
0
1
2
3
4
5
Net
Present
Value
Year
1
2
3
4
5
Net
Present
Value
Cashflow
-80,000
12,000
Cashflow
-80,000
12,000
Tax Benefit
from
Depreciation
Deduction*
Discount
Factor
5600
8960
5376
32
ACTG470/570
Chapter11PracticeProblem
Paul and Donna Decker are married taxpayers, ages 44 and 42, who file a joint return for 2013.
Paul and Donna have two children, Larry and Jane, ages 17 and 18. La
Solutions to Chapter 1 Problem Assignments
Check Your Understanding
1. [LO 1.1] Consumption Taxes
Solution: Consumption taxes are spending taxes. They are taxes that are not levied until a
person deci
Chapter 11: Taxation of Individuals 3
Solutions to Chapter 11 Problem Assignments
Check Your Understanding
1. Deductions for AGI
Solution: Student loan interest: Taxpayers can deduct up to $2,500 of q
20-Nov-12
Capital Gains and Taxes Paid on Capital Gains
(dollar amounts in millions)
Returns with Positive Net Capital Gains, 1954-2009 [1]
Total Realized
Taxes
Average Effective
Year
Capital
Paid on
Bureau of Labor Statistics
Labor Force Statistics from the Current Population Surve
Original Data Value
Series
LNU04000000
Id:
Not Seasonally Adjusted
Series
(Unadj) Unemployment Rate
title:
Labor
Une