energy is transferred from the sun to earth mainly by a) molecular collisions b)density currents c)electromagnetic waves d) red shifts

search any topic from internet to stimulate your idea and creativity.  You might identify the main problems that the user faced in their daily life or analyze the weaknesses of existing THE college SIS and COLLEGE learning systems. Then you will provide creative solution using innovative technology/system (upgrade the system functionality into Intelligent System or Business Intelligent System). To realize the designs, gives added value to your system design. Each group should able to present the idea of how the system works into graphic/ visual (interface design).  

 

• Use the following information to complete Phillip and Claire Dunphy’s 2012 federal income tax return. If information is missing, use reasonable assumptions to fill in the gaps. Ignore the alternative minimum tax for this problem.

• Any required forms, schedules, and instructions can be found at the IRS Web site (www.irs.gov). The instructions can be helpful in completing the forms.  The following forms are required:

o   1040

o   Schedule C

o   Schedule D

o   Form 4562

o   Form 4797

o   Form 8949

o   Schedule SE

·        AMT (alternative minimum tax) is NOT  part of this Project; You do NOT have to calculate AMT!!!

·        Also, you do NOT need to depreciate the Artwork

•  

Facts:

1. Phillip and Claire are married and file a joint return. Phillip is self-employed as a real estate agent, and Claire is a flight attendant. Phillip and Claire have three dependent children. All three children live at home with Phillip and Claire for the entire year.

The Dunphys provide you with the following additional information:

• The Dunphys do not want to contribute to the presidential election campaign.

• The Dunphys live at 3701 Brighton Avenue, Los Angeles, CA  90018.

• Phillip’s birthday is 11/5/1965 and his Social Security number is 321-44-5766.

• Claire’s birthday is 5/12/1968 and her Social Security number is 567-77-1258.

• Haley’s birthday is 11/6/1999 and his Social Security number is 621-18-7592.

• Alex’s birthday is 2/1/2001 and her Social Security number is 621-92-8751.

• Luke’s birthday is 12/12/2005 and his Social Security number is 621-99-9926.

• The Dunphys do not have any foreign bank accounts or trusts.
1. Claire is a flight attendant for Western American Airlines (WAA), where she earned $57,000 in salary. WAA withheld federal income tax of $6,375, state income tax of $1,800, Los Angeles city income tax of $675, Social Security tax of $3,600, and Medicare tax of $825.
2. Phillip and Claire received $300 of interest from State Savings Bank on a joint account. They also received a qualified dividend of $395 on jointly owned stock in Xila Corporation.
3. Phillip’s real estate business is named “Phillip Dunphy Realty.” His business is located at 645 Grove Street, Los Angeles, CA 90018, and his employer identification number is 93-3488888. Phillip’s gross receipts during the year were $730,000. Phillip uses the cash method of accounting for his business. Phillip’s business expenses are as follows:

Advertising	$ 5,000
Professional dues	800
Professional journals	200
Employee wages	48,000
Insurance on office contents	1,120
Accounting services	2,100
Miscellaneous office expense	500
Utilities and telephone	3,360
Payroll taxes	3,600
Depreciation	To be calculated

On March 20, Phillip moved his business out of the old offices at 1103 Allium Lane into a newly constructed and equipped office on Grove Street. Phillip sold the old office building and all its furnishings. Phillip’s expenditures for the new office building are as follows:

Date Acquired	Asset	Cost
3/20	Land	$300,000
3/20	Office building	2,500,000
3/20	Furniture	200,000
4/1	Computer system	350,000
6/1	Artwork	150,000

Phillip computes his cost recovery allowance using MACRS. He would like to use the §179 immediate expensing, but he has elected to not claim any bonus depreciation. Phillip has never claimed §179 or bonus depreciation before. The assets Phillip sold on March 20 are as follows:

Date Acquired	Asset	Sales Price	Original Cost	Accumulated Depreciation as of Beginning of the Year
5/1/05	Office building	$940,000	$900,000	$129,825
5/1/05	Land	200,000	100,000	0
7/1/05	Furniture	50,000	239,000	206,998
8/13/07	Furniture	10,000	324,000	222,782
4/12/08	Office equipment	100,000	120,000	67,524
5/13/10	Computers	$ 30,000	50,000	10,000

Phillip has never sold any assets relating to his business before this transaction.

1. The Dunphys sold 60 shares of Fizbo Corporation common stock on September 3, for $65 a share (minus a $50 total commission). The Dunphys purchased the stock on November 8, 2010, for $90 a share. They also sold a painting for $13,000 on March 1. Claire purchased the painting for $20,050 on September 1, 2004, as an investment.
2. The Dunphys filed their 2011 federal, state, and local returns on April 14, 2012. They paid the following additional 2011 taxes with their returns: federal income taxes of $630, state income taxes of $250, and city income taxes of $75.
3. The Dunphys made timely estimated federal income tax payments of $16,000 each quarter during 2012. They also made estimated state income tax payments of $1,000 each quarter and estimated city income tax payments of $300 each quarter. The Dunphys made all fourth-quarter payments on December 31, 2012. They would like to receive a refund for any overpayments.

Assignment 2: LASA 1—Capital Budgeting and Dividend Policies

 

Cramer Industries has identified several investment opportunities that will become available over the next three years and would like you to evaluate these projects.  They have asked that you use the NPV and IRR methods to determine if these independent projects are acceptable.  Each of these investments will occur one year apart and the cash flows will start one year after the investment is made.

 

Table-1:

 

Project	Cash Flows/Year (in thousands)	Length of Project	Cost and Date when Cost is incurred
A	$ 2,300.00	5 years	$ 12,000.00 @t=1
B	$ 3,000.00	5 years	$ 17,000.00 @t=2
C	$ 2,800.00	5 years	$ 13,000.00 @t=3
D	$ 2,100.00	5 years	$ 15,000.00 @t=4

 

Cramer currently has 2,000,000 shares outstanding and pays a dividend of $2 per share.

 

With a high degree of certainty, Cramer has projected their income for the next four years as follows, which includes the annual cash flows from the investments selected above:

 

Table-2:

 

Year	Income After Taxes
1	$6,000.00
2	$8,000.00
3	$5,000.00
4	$7,000.00

 

Questions:

 

1. What is the NPV for each project at the time the investment would be made? Explain your findings.
2. What is the IRR for each project at the time the investment would be made?  Explain your findings
3. Which investments should be selected?  Justify your conclusions.
4. What will the dividends per share and the external financing required, if the current dividend per share is maintained?  Justify your conclusions.
5. What will the dividends per share and the external financing required, if the dividend per share payout ratio of 50% is maintained?  Explain your answers.
6. If the dividend policy is considered a residual decision, what will be the dividends per share and external financing requirement in each year?  Explain your answers.
7. Under which policy will external financing be minimized?  Justify your conclusions.

 

Present your analysis of the assigned problems in Excel format. Enter non-numerical responses in the same worksheet using textboxes.

 

By Wednesday, June 29, 2016 deliver your assignment to the M3: Assignment 2 Dropbox.

 

Create the file with the following name: LastnameFirstInitial_M3A2.Excel.xls.

 

Assignment 2 Grading Criteria	Maximum Points
Correctly calculated the NPV for each project and explained its meaning and significance to the firm.	20
Correctly calculated the IRR for each project and explained its meaning and significance to the firm.	20
Correctly selected the projects in which the company should invest and justified the conclusions.	20
Correctly determined the external financing requirement, assuming the current dividend policy is maintained and justified the response.	24
Correctly determined the external financing requirement, assuming that a 50% payout ratio is maintained and justified the response.	24
Correctly determined the external financing requirement, assuming it is a residual decision and justified the response.	24
Correctly identified the dividend policy that minimizes the external financing level and justified the response.	24
Written Components: Organization (12) usage and mechanics (12) APA elements (16) Style (4)	44
Total:	200

What are the three “democratizations,” and how is it that they make us more

 

free, according to Friedman? Pick two of them to explain in detail. How do these 

 

relate to “GOLDEN” characterization of the golden straightjacket? What makes the 

 

straightjacket a “STRAIGHTJACKET”, if it involves the democratizations? What do you 

 

think about these ideas? Why?