a.     What is Sarah’s 2013 gift tax​ liability?

(Select one)

Minus:  (Select one)

Minus: (Select one)

Gift Tax liability:          

b.   What is her 2013 gift tax liability under the assumption that she made the $235,000 of taxable gifts in 1974 instead of​ 1997?

 

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In 2012, the General Social Survey included a question that asked respondents if they had “often/sometimes” been the subject of gossip at work. Out of 606 men, 75 said yes they had “often/sometimes” been the subject of gossip at work. Out of 580 women, 67 said yes they had “often/sometimes” been the subject of gossip at work. What is the pooled proportion for the null hypothesis Ho:p1-p2=0 vs. alternative hypothesis Ha: p1-p2 does not equal 0?

 

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In 2011, the internal auditors of KJI Manufacturing discovered the following material errors made in prior years:1. Equipment was purchased on June 30, 2009, for $100,000. The purchase was incorrectly recorded as a debit to repair and maintenance expense. The equipment has a useful life of five years and no residual value.2. On March 31, 2010, $50,000 was paid to a contractor to landscape the area around a manufacturing plant including the installation of a sprinkler system. The expenditure was debited to the Land account. The landscaping is expected to have a 20-year useful life and no residual value.KJI uses the straight-line method of depreciation for all depreciable assets.Required:1. Prepare the journal entries at December 31, 2011 to correct the errors (ignore income taxes).2. Prepare the journal entries to record 2011 depreciation for any assets recorded in requirement 1.

QUESTION:the internal auditors of KJI Manufacturing discovered the following material errors made in prior years:1. Equipment was purchased on June 30, 2009, for $100,000. The purchase was…

 

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In 2011, pop music sensation One Direction became the first English music group to reach the number one spot on the Billboard 200 chart with a debut album. Assembled by Simon Cowell in 2010 and introduced on Cowell’s The X Factor television series, One Direction quickly amassed tween fans in England and the United States through a unique interactive marketing campaign. According to the campaign’s narrative, a One Direction superfan who went by the moniker “1DCyberpunk” stole the band’s laptop, promising only to give it back when fans proved their support by completing a series of social media-based challenges. Active participants were rewarded with exclusive content and events, culminating in a massive online album listening party during which the laptop was finally returned.

Emma Hall, “U.K. Boy Band One Direction Rises Via Social Media,” Advertising Age, April 12, 2012, http://adage.com/article/global-news/u-k-boy-band-direction-rises-social-media/234105 (Accessed March 25, 2013).

What is likely the target market for this campaign?

 

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29. In 2011, P Company sells land to its 80% owned subsidiary, S Company, at a gain of $50,000. What is the effect of this sale of land on consolidated net income assuming S Company still owns the land at the end of the year?consolidated net income will be the same as if the sale had not occurred. consolidated net income will be $50,000 less than it would had the sale not occurred. consolidated net income will be $40,000 less than it would had the sale not occurred. consolidated net income will be $50,000 greater than it would had the sale not occurred.

 

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