Mrs. Yang is considering buying a share of stock in a firm

1. Mrs. Yang is considering buying a share of stock in a firm that has the following two possible payoffs with the corresponding probability of occurring. The stock has a purchase price of Php 7.50. You forecast that there is a 30% chance that the stock will sell for Php 15.00 at the end of one year. The alternative expectation is that there is a 70% chance that the stock will sell for Php 5.00 at the end of one year. What is the expected percentage return on this stock, and what is the return variance?

2. Mr. Lee is considering buying a share of stock in a firm that has the following two possible payoffs with the corresponding probability of occurring. The stock has a purchase price of Php 25.00. You forecast that there is a 40% chance that the stock will sell for Php 35.00 at the end of one year. The alternative expectation is that there is a 60% chance that the stock will sell for Php 15.00 at the end of one year. What is the expected percentage return on this stock, and what is the return variance?

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On November 21, 2016, a fire at Hodge Company’s warehouse caused

On November 21, 2016, a fire at Hodge Company’s warehouse caused severe damage to its entire inventory of Product Tex. Hodge estimates that all usable damaged goods can be sold for $16,000. The following information was available from the records of Hodge’s periodic inventory system:

Inventory, November 1$120,000   Net purchases from November 1, to the date of the fire 144,000   Net sales from November 1, to the date of the fire 224,000

Based on recent history, Hodge’s gross profit ratio on Product Tex is 30% of net sales.

Required: Calculate the estimated loss on the inventory from the fire, using the gross profit method.

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Royal Gorge Company uses the gross profit method to estimate ending

Royal Gorge Company uses the gross profit method to estimate ending inventory and cost of goods sold when preparing monthly financial statements required by its bank. Inventory on hand at the end of October was $60,300. The following information for the month of November was available from company records:

Purchases$128,000   Freight-in 4,800   Sales 270,000   Sales returns 8,500   Purchases returns 7,500

In addition, the controller is aware of $8,500 of inventory that was stolen during November from one of the company’s warehouses.

Required: Calculate the estimated inventory at the end of November, assuming a gross profit ratio of 40%.

Calculate the estimated inventory at the end of November, assuming a markup on cost of 100%. make into two different tables

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Campbell Corporation uses the retail method to value its inventory

Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2016:

CostRetail  Merchandise inventory, January 1, 2016$390,000 $320,000   Purchases 587,000  980,000   Freight-in 28,000      Net markups    40,000   Net markdowns    6,000   Net sales    1,000,000

Required: Determine the December 31, 2016, inventory that approximates average cost, lower of cost and net realizable value.

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A fire destroyed a warehouse of the Goren Group, Inc., on May 4, 2016

A fire destroyed a warehouse of the Goren Group, Inc., on May 4, 2016. Accounting records on that date indicated the following:

Merchandise inventory, January 1, 2016$1,920,000   Purchases to date 5,820,000   Freight-in 420,000   Sales to date 8,400,000

The gross profit ratio has averaged 20% of sales for the past four years.

Required: Use the gross profit method to estimate the cost of the inventory destroyed in the fire.

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Almaden Valley Variety Store uses the retail inventory method to estimate

Almaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2016 are as follows:

CostRetail  Beginning inventory$18,000 $26,000   Purchases 108,600  171,000   Freight-in 1,920      Purchase returns 7,000  10,000   Net markups    9,000   Net markdowns    6,000   Normal spoilage    4,800   Net sales    158,000

Required: Complete the table below to estimate the ending inventory and cost of goods sold for 2016, applying the conventional retail method.

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San Lorenzo General Store uses a periodic inventory system and the retail

San Lorenzo General Store uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the month of October 2016:

CostRetail  Beginning inventory$53,000 $68,000   Net purchases 13,755  33,400   Net markups    3,000   Net markdowns    1,700   Net sales    50,000

Required: Complete the table below to estimate the average cost of ending inventory and cost of goods sold for October.

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LeMay Department Store uses the retail inventory method to estimate

LeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to one of its largest departments for the month of March 2016:

CostRetail  Beginning inventory$41,000 $61,000   Purchases 208,000  401,000   Freight-in 9,270      Purchase returns 4,500  6,500   Net markups    5,900   Net markdowns    3,600   Normal breakage    6,500   Net sales    281,000   Employee discounts    1,900

Sales are recorded net of employee discounts.

Required: Compute estimated ending inventory and cost of goods sold for March applying the conventional retail method.

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BeBe Hassell is a successful tax attorney in New Orleans, Louisiana

Tax Research:

BeBe Hassell is a successful tax attorney in New Orleans, Louisiana. She purchases a vacation home, or “camp” on Lake Pontchartrain, just north of the city, to enjoy on the weekends with her husband, Gabe, and four children. Gabe is a professor of journalism at the University of New Orleans. Because of poor reception, she and Gabe install a tall, 30 foot antenna tower alongside the camp, at a cost of $4,000.00. They notice over a period of five years, that the tower is battered by wind and waves, and tilts more each year and the metal is weakened a bit more each year by the salty brackish water and the salt air. The tower becomes visibly in poor condition. Almost five years to the day after the tower is installed, there is a near-miss from a hurricane and no great damage is done, except their tower is toppled and ruined. Nearby neighbors with newer towers mostly find that their towers survived the storm, although a couple of the new towers of nearby camps also had their towers destroyed by the storm, which was powerful enough to destroy even new towers if it happened to hit hard at that spot.

Assignment:

For a loss to count as a casualty loss deduction, it must be the result of a sudden, unexpected or unusual event, not a “wearing out” or deteriorating over time. Can BeBe and Gabe take a casualty deduction for this loss? Please do the following:

1. Research this on the internet, using IRS publications, Google or other search engine, and other sources you find on the internet.

2. Write a memo to the me, describing the situation, and also describing the results of your research. Restate the facts, then state what you see as the issue. Then describe the sources that you located that gave you good information on this issue, and describe what each resource said about this situation. If you can, cite the Internal Revenue Code section that discusses casualty losses.

3. Give your conclusion. Is the antenna loss deductible or not, and why or why not?

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Financial benchmarking seeks to measure how the medical practice

Financial benchmarking seeks to measure how the medical practice organizational performance and how it stacks up against competitors and where it does not. The end result should be where to focus your efforts.

Use each question as a HEADING in your assignment. Discuss each question separately.

1. What will or are you benchmarking in your practice?

2. Why is it important?

3. What knowledge will you gain?

4. How will you use this information to improve the practice performance?

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