Acct553 Course Experience Tradition / snaptutorial.com

1
Acct553 Course Experience Tradition /
snaptutorial.com
The Best way to predict the Future is to create
it.....To Best way....
www.snaptutorial.com
2
Acct553 Course Experience Tradition /
snaptutorial.com
ACCT 553 Entire Course For more classes
visit www.snaptutorial.com   Please check the
Details under individual Assignments ACCT 553
Week 1 Homework ACCT 553 Week 2 Homework ACCT
553 Week 3 Homework ACCT 553 Week 3 Homework ES
(Quiz, Set 1)
3
Acct553 Course Experience Tradition /
snaptutorial.com
ACCT 553 Final Exam (New) For more classes
visit www.snaptutorial.com   1. (TCO E) Zelda
Zayer has been a widow for over 3 years and files
a return as a single taxpayer. Items of income
received by Zelda in 2011 were as follows. (TCO
E) Distinguish between realized gains and losses
and recognized gains and losses. (Points
17) (TCO F) Describe the current tax law for sale
of residence. (Points 17)
4
Acct553 Course Experience Tradition /
snaptutorial.com
ACCT 553 Midterm Exam For more classes
visit www.snaptutorial.com   1. (TCO C) Under
current accounting practice, intangible assets
are classified as (Points 5) 2. (TCO C) Which of
the following intangible assets should not be
amortized? (Points 5) 3. (TCO C) The intangible
asset goodwill may be (Points 5)
5
Acct553 Course Experience Tradition /
snaptutorial.com
ACCT 553 Week 1 Homework For more classes
visit www.snaptutorial.com   Chapter 1 (5 pts) 1.
Briefly discuss the purpose of the Sixteenth
Amendment Chapter 2 (5 pts) 2. Explain the two
"safe harbors" available to an Individual
taxpayer to avoid a penalty for underpayment of
estimated tax.
6
Acct553 Course Experience Tradition /
snaptutorial.com
ACCT 553 Week 2 Homework For more classes
visit www.snaptutorial.com   Chapter 4 1.Your
brother is short on cash and cannot pay his rent
this month. You pay his rent for him. Is this
taxable income to your brother? Do you get a
deduction? (2 pts) 2.Which of the following items
would beexcluded from income? (a) 100 bill found
under the sugar caddy at the restaurant (b)
Inheritance of a car from your grandmother valued
at 5,000. (c) Loan from your father-in-law to
start your business, (d) Child Support received
totaling 16,500. (4 pts) Chapter 5
7
Acct553 Course Experience Tradition /
snaptutorial.com
ACCT 553 Week 3 Homework ES (Quiz Set 2) For
more classes visit www.snaptutorial.com   1. A
business bad debt is deductible for tax purposes
as a(n) Your Answer 2.
Which of the following items is not subject to
federal income tax? 3. Sam owes Bob 8,000.
Bob cancels (forgives) the debt. The cancellation
is
8
Acct553 Course Experience Tradition /
snaptutorial.com
ACCT 553 Week 3 Homework For more classes
visit www.snaptutorial.com   Chapter 7 1. In your
"own" words, please describe what a "Suspended
Loss" is, how it is generated and when it is
becomes deductible. (5 pts) 2. Please describe
"Active Participation" as it relates to a
taxpayer's involvement in an investment in Real
Estate. (5 pts). Chapter 8
9
Acct553 Course Experience Tradition /
snaptutorial.com
ACCT 553 Week 4 Homework For more classes
visit www.snaptutorial.com   Chapter 14 1. Please
describe the concept of "double taxation" and
discuss which entity(ies) are subject to this
type of taxation. (5 pts) 2. What type of
taxpayers are considered "eligible" taxpayers
with regard to special ordinary loss treatment of
IRC Section 1244 stock? (5 pts.) 3. Please
describe how the treatment of capital
gains(losses) differ for a C Corporation as
compared to an
10
Acct553 Course Experience Tradition /
snaptutorial.com
ACCT 553 Week 4 You Decide For more classes
visit www.snaptutorial.com   Jane Smith Case
How is the 300,000 treated for purposes of
federal tax income? Jane Smith Tax Issues
(a) What are the different tax consequences
between paying down the mortgage debt and
assuming a new mortgage debt for federal income
tax purposes?
11
Acct553 Course Experience Tradition /
snaptutorial.com
ACCT 553 Week 5 Homework For more classes
visit www.snaptutorial.com   Chapter 14 1. Please
explain how Charitable Contributions come into
play in determining "Corporate" taxable income.
(5 pts) 2. What happens to a loss on the
Corporate Tax Return (Form 1120)? Does it pass
through to the shareholders? Is it available for
future or past periods? Please explain in detail.
(5 pts.)
12
Acct553 Course Experience Tradition /
snaptutorial.com
ACCT 553 Week 5 Quiz For more classes
visit www.snaptutorial.com   1. (TCO E) For
federal tax purposes, royalty income not derived
in the ordinary course of a business is
classified as 2. (TCO F) When comparing
corporate and individual taxation, the following
statements are true, except 3. (TCO H) Al and
Amy file a joint return for the 2012 tax year.
Their adjusted gross income is 80,000. They had
a net investment income of 8,000. In 2012, they
had the following interest expenses  
13
Acct553 Course Experience Tradition /
snaptutorial.com
ACCT 553 Week 6 Assignment You Decide For more
classes visit www.snaptutorial.com   ACCT 553
Week 6 You Decide Mark, and John Case Part I
Discuss the various forms of organization that
are available to Penelope, Mark, and John Part
II Make your recommendation as to what form of
organization you believe will be best, and be
sure to explain the reasoning for your choice.
14
Acct553 Course Experience Tradition /
snaptutorial.com
ACCT 553 Week 6 Homework For more classes
visit www.snaptutorial.com   Miyasyke,Inc.,acalend
aryearScorporation,hasfiveequalshareholdersattheen
dofthetaxyear.Miyasykehad 75,000oftaxableincome.M
iyasykemadedistributionsto itsshareholdersof32,00
0each,foratotalof160,000. Eachshareholder'sbasisi
n theScorporationis100,000atthebeginningofthetaxy
ear.Whatamountfrom Miyasykeshould be includedin
eachshareholder'sgrossincome?
15
Acct553 Course Experience Tradition /
snaptutorial.com
ACCT 553 Week 7 Homework For more classes
visit www.snaptutorial.com   Chapters 10-11-12 1.
Please explain the distinction between a
"realized" gain and a "recognized" gain. (5
pts) 2. Are there any limits to the deductibility
of losses on sales and exchanges between related
parties? What code section defines this
limitation? (5 pts.) 3. What is the basis of
property received (i.e. new property) in a
like-kind exchange? What is the holding period
for the new asset? (5 pts.)
16
Acct553 Course Experience Tradition /
snaptutorial.com
ACCT 559 Week 7 Course Project Part 3 For more
classes visit www.snaptutorial.com   ACCT 559
Week 7 Course Project Part 3
17
Acct553 Course Experience Tradition /
snaptutorial.com
The Best way to predict the Future is to create
it.....To Best way....
www.snaptutorial.com