Write a program that can be used to calculate the federal tax

Write a program that can be used to calculate the federal tax. The following is an example: For single people the standard exemption is $4’000 and for married people it is $7’000. A person can also put up to %6 of his or hers gross income in a pension plan. The tax rates are as follows: if the taxable income is: 1. Between $0-$15’000 it is 15% 2. %15’001-$40’000 $2’225 plus 25% of the income over $15’000 3. Over $40’000 the tax is $8’460 plus 35% of the income that is over $40’000 Prompt the user to enter the following information: 1. Marital status 2. If the marital status is married: ask for the number of children under the age of 14 3. Gross salary (if married and both have income enter combined gross salary.) 4. Percentage of gross income contributed to a pension fund. Your program must consist of at least the following functions: 1. The function getData: this will ask the user to enter the relevant data 2. The Function taxAmount: this will compute and returns the tax owed. To calculate the taxable income subtract the sum of the standard exemption, the amount contributed to the pension plan, and the personal exemption, which is $1’500 per person. (if married couple has 2 childern it would be $1’500 * 4 = $6’000)

Download : Federal Tax Calculation.cpp 

Tested on VB 2010 (zipped file >> open federalcalculation.sln file >> press f5 to run project.)

Write your own version of a class template that will create a dynamic stack of any data type

Write your own version of a class template that will create a dynamic stack of any data type. Be sure to include push, pop, isFull, and isEmpty methods.

The push and pop methods should throw an exception if the stack is full or empty, respectively.

In addition, include a copy constructor and an overloaded assignment operator.

Demonstrate the class with a driver program.

You may not use containers from the STL.

Scoring: Points:
---------------------------
push method: 1
pop method: 1
constructor: 1
destructor: 1
copy constructor: 1
overloaded
assignment op. 1
isFull method: 1
isEmpty method: 1
demonstration: 2

Download : Linked List Stack Class.cpp

Write your own version of a class template that will create a dynamic queue of any data type

Write your own version of a class template that will create a dynamic queue of any data type. Demonstrate the class with a driver program.

The enqueue and dequeue methods should throw exceptions if the queue is full and empty, respectively.

In addition, include a copy constructor and overloaded assignment operator.

You may not use containers from the STL.

---------------------------
Scoring: Points:
---------------------------
enqueue method: 1
dequeue method: 1
constructor: 1
copy constructor: 1
destructor: 1
assignment operator: 1
isempty method: 1
isfull method: 1
demonstration: 2

Download : Linked List Queue Class.cpp

060322RR - Business and Finance Basics 2



1. Federal Express bought material handling equipment for its hub operations that cost $180,000. Using the
MACRS, what is the depreciation expense in year 3 (using a five-year class)?
A. $15,360
B. $34,560
C. $43,560
D. $40,000
2. What is a sinking fund?
A. It aids in meeting a future obligation.
B. It doesn't compound its money.
C. It's not really an annuity.
D. It requires one lump sum payment at the beginning.
3. Megan Mei is charged 2 points on a $120,000 loan at the time of closing. The original price of the home
before the down payment was $140,000. How much do the points in dollars cost Megan?
A. $8,200
B. $4,200
C. $2,800
D. $2,400
4. What does an amortization schedule show?
A. The increase to principal
B. The increase in loan outstanding
C. The balance of interest outstanding
D. The portion of payment broken down to interest and principal
5. Dick Hercher bought a home in Homewood, Illinois, for $230,000. He put down 20% and obtained a
mortgage for 25 years at 8%. What is the total interest cost of the loan?
A. $242,411.00
B. $242,144.00
C. $184,000.00
D. $327,372.80
6. A new piece of equipment costs $18,000 with a residual value of $600 and an estimated useful life of
five years. Assuming twice the straight-line rate, the book value at the end of year 2 using the decliningbalance
method is
A. $18,000.
B. $7,200.
C. $11,520.
D. $6,480.
7. In an ordinary annuity, when does the interest on a yearly investment start building interest?
A. At the beginning of the first period
B. After the second period ends
C. At the end of the first period
D. During the first period
8. Lee Company has a current ratio of 2.65. The acid test ratio is 2.01. The current liabilities of Lee are
$45,000. Assuming there are no prepaid expenses, the dollar amount of merchandise inventory is
A. $28,008.
B. $28,800.
C. $90,540.
D. $90,450.
9. Which one of the following methods is not based on the passage of time?
A. Units-of-production method
B. None of these
C. Declining-balance method
D. Straight-line method
10. A truck costs $16,000 with a residual value of $1,000. It has an estimated useful life of five years. If
the truck was bought on July 3, what would be the book value at the end of year 1 using straight-line rate?
A. $14,500
B. $12,500
C. $1,500
D. $16,000
11. Jen purchased a condo in Naples, Florida, for $699,000. She put 20% down and financed the rest at
5% for 35 years. What are Jen's total finance charges?
A. $457,425.60
B. $606,823.20
C. $600,000.00
D. $626,863.20
12. Dan Miller bought a new Toyota truck for $28,000. Dan made a down payment of $6,000 and paid
$390 monthly for 70 months. What is the total finance charge?
A. $11,300
B. $27,300
C. $13,300
D. $5,300
13. If a car is depreciated in four years, what is the rate of depreciation using twice the straight-line rate?
A. 25%
B. 50%
C. 100%
D. 75%
14. Given a mortgage of $48,000 for 15 years with a rate of 11%, what are the total finance charges?
A. $54,576
B. $50,236.80
C. $5,023.68
D. $545.76
15. Use the following information to answer the question:
Cost of car: $26,000
Residual value: $6,000
Life: 5 years
Using the given information, determine the depreciation expense for the first year straight-line method?
A. $4,400
B. $6,000
C. $4,000
D. $5,200
16. Open credit in a revolving charge plan results in
A. as many charged purchases till credit limit is reached.
B. the U.S. Rule being applied to each purchase.
C. as many cash purchases till credit limit is reached.
D. one purchase per month.
17. John Sullivan bought a new Brunswick boat for $17,000. He made a $2,500 down payment on it. The
bank's loan was for 60 months, and the finance charges totaled $4,900. What is his monthly payment?
A. $332.33
B. $323.33
C. $232.33
D. $313.33
18. The acid test ratio does not include
A. cash.
B. inventory.
C. supplies.
D. accounts receivable.
19. A $104,000 selling price with $24,000 down at 81∕2% for 25 years results in a monthly payment of
A. $654.60.
B. $546.06.
C. $644.80.
D. $645.60.
20. Jay Corporation has earned $175,900 after tax. The accountant calculated the return on equity as
12.5%. Jay Corporation's stockholders' equity to the nearest dollar is
A. $14,720.
B. $140,720.
C. $140,720,000.
D. $1,407,200.
21. Ted Williams made deposits of $500 at the end of each year for eight years. The rate is 8%
compounded annually. Using the tables in the Business Math Handbook that accompanies the course
textbook, calculate the value of Ted's annuity at the end of eight years.
A. $4,318.30
B. $2,873.30
C. $5,318.30
D. $2,837.03
End of exam
22. An annuity due can use the ordinary annuity table if one extra period is added and
A. two payments are added to total value.
B. three payments are subtracted from total value.
C. one payment is added to total value.
D. one payment is subtracted from total value.
23. At the beginning of each year for 14 years, Sherry Kardell invested $400 that earns 10% annually.
What is the future value of Sherry's account in 14 years?
A. $13,100
B. $12,309
C. $14,000
D. $12,709
24. Abe Aster bought a new split level for $200,000. Abe put down 30%. Assuming a rate of 111∕2% on a
30-year mortgage, use the tables in the Business Math Handbook that accompanies the course textbook to
determine Abe's monthly payment.
A. $1,423.80
B. $1,387.40
C. $1,982.00
D. $1,367.80
25. Depreciation expense in the declining-balance method is calculated by the depreciation rate
A. divided by book value at beginning of year.
B. times accumulated depreciation at year end.
C. times book value at beginning of year.

Download above 25 A+ Answers : Click here 

The Balance Sheet of Watson company as of december 31 20x1 follows

1. Comprehensive budgeting
The balance sheet of Watson Company as of December 31, 20X1, follows.
WATSON COMPANY 
Balance Sheet 

December 31, 12X1 
Assets 
Cash $4,595 
Accounts receivable 10,000
Finished goods (575 units x $7.00) 4,025
Direct materials (2,760 units x $0.50) 1,380
Plant & equipment $50,000 
Less: Accumulated depreciation 10,000 40,000
Total assets $60,000 
Liabilities & Stockholders' Equity 
Accounts payable to suppliers $14,000 
Common stock $25,000 
Retained earnings 21,000 46,000
Total liabilities &. stockholders' equity $60,000 

The following information has been extracted from the firm's accounting records:
1. All sales are made on account at $20 per unit. Sixty percent of the sales are collected in the month of sale; the remaining 40% are collected in the following month. Forecasted sales for the first five months of 20X2 are: January, 1,500 units,- February, 1,600 units; March, 1,800 units; April, 2,000 units; May, 2,100 units.

2. Management wants to maintain the finished goods inventory at 30% of the following month's sales.

3. Watson uses four units of direct material in each finished unit. The direct material price has been stable and is expected to remain so over the next six months. Management wants to maintain the ending direct materials inventory at 60% of the following month's production needs.

4. Seventy percent of all purchases are paid in the month of purchase; the remaining 30% are paid in the subsequent month.

5. Watson's product requires 30 minutes of direct labor time. Each hour of direct labor costs $7.

Instructions:
a. Rounding computations to the nearest dollar, prepare the following for January through March:

1) Sales budget
2) Schedule of cash collections
3) Production budget
4) Direct material purchases budget
5) Schedule of cash disbursements for material purchases
6) Direct labor budget

b.Determine the balances in the following accounts as of March 31:
1) Accounts Receivable
2) Direct Materials
3) Accounts Payable

Chapter 7 Problem 1
2. Basic flexible budgeting 
Centron, Inc., has the following budgeted production costs:

Direct materials $0.40 per unit 
Direct labor 1.80 per unit 
Variable factory overhead 2.20 per unit 
Fixed factory overhead 
Supervision $24,000 
Maintenance 18,000
Other 12,000

The company normally manufactures between 20,000 and 25,000 units each quarter. Should output exceed 25,000 units, maintenance and other fixed costs are expected to increase by $6,000 and $4,500, respectively.
During the recent quarter ended March 31, Centron produced 25,500 units and incurred the following costs:

Direct Materials $10,710 
Direct Labor 47,175
Variable factory overhead 51,940
Fixed factory overhead
Supervision 24,500
Maintenance 23,700
Other 16,800
Total production costs $174,825 


Instructions:
a. Prepare a flexible budget for 20,000, 22,500, and 25,000 units of activity. 

b. Was Centron's experience in the quarter cited better or worse than anticipated? Prepare an appropriate performance report and explain your answer. 

c. Explain the benefit of using flexible budgets (as opposed to static budgets) in the measurement of performance. 

Chapter 7 Problem 5
3. Straightforward variance analysis 
Arrow Enterprises uses a standard costing system. The standard cost sheet for product no. 549 follows.

Direct materials: 4 units @ $6.50 $26.00 
Direct labor: 8 hours @ $8.50 68
Variable factory overhead: 8 hours @ $7.00 56
Fixed factory overhead: 8 hours @ 2.5 20
Total standard cost per unit $170.00 

The following information pertains to activity for December: 

1. Direct materials acquired during the month amounted to 26,350 units at $6.40 per unit. All materials were consumed in operations. 

2. Arrow incurred an average wage rate of $8.75 for 51,400 hours of activity. 

3. Total overhead incurred amounted to $508,400. Budgeted fixed overhead totals $1.8 million and is spread evenly throughout the year. 

4. Actual production amounted to 6,500 completed units. 

Instructions: 
a. Compute Arrow's direct material variances. 
b. Compute Arrow's direct labor variances. 
c. Compute Arrow's variances for factory overhead.

Download .XLS file containing the tutorial answer : Click HERE

Corporate Finance Exam 060590

Part A: Answer each of the following questions in one to three sentences, and perform calculations as requested.


1.   The following table summarizes a portion of U.S. federal corporate tax rates for the 2007 tax year. Explain whether corporate tax rates are progressive, regressive, of flat. Use a very simple example from the table to make your position and explanation clear.



Taxable Income More than


Taxable Income Less than


Tax Rate
$0


$50,000


15%
$50,001


$75,000


25%
$75,001


$100,000


34%


1.   Recall that the net present value (NPV) and internal rate or return (IRR) techniques take the time value of money into consideration. Compare and contrast these two techniques, focusing on IRR when the NPV is positive, zero and negative. Be sure to include a discussion of NPV discount rate in your response.


2.   Recall that the security market line (SML) illustrates the relationship between systematic risk and expected returns. Perhaps the most famous and practical application of the SML is the capital asset pricing model (CAPM), as follows:

E(R1) = RF + [E(RM) – RF] X βi

1.   Define each of the variables or terms in this equation.

2.   Calculate the E(Ri), assuming that E(RM) equals 12% Rf equals 6% and βi equals 1.2.

1.   Describe the differences between an ordinary annuity, an annuity due, and perpetuity.

2.   Assume that a project has a negative net present value (NPV) of $500 and an internal rate or return (IRR) of 10%. Is the discount rate used to calculate the NPV higher than, lower than, or equal to 10%? Compare and contrast these two techniques, using this example, and focusing on IRR when the NPV is positive, zero and negative.
Part B: Answer each of the following questions in a composition of 1-2 paragraphs, or perform calculations as requested. Each answer is worth 20 points.


1.   Explain the concept of venture capital. Include a definition of the term venture capital, describe who will need to obtain venture capital financing, and explain the type of return that’s required from a venture capital firm.


2.   In a typical loan amortization, the principal component of a fixed payment increases and the interest component decreases with each payment. The following figure illustrates this relation for a hypothetical 30-year mortgage.


Interest


Component


Of payment

Principal

Component

Of payment
Assume that someone borrows $5,000 at an interest rate of 9 percent per year for five years, and agrees to make interest and principal payments in the amount of $1,285.46 at the end of each year. Prepare a loan amortization schedule for each of the five years, showing the beginning principal balance, the total payment of $1,285.46, the interest component of the payment, the principal component of the payment, and the ending principal balance. Fill in the blank spaces in the following framework to complete your answer:

LOAN AMORTIZATION SCHEDULE


For a Loan of $5,000 at 9% interest, Over 5 years


Year


Beginning Balance


Total Payment


Interest Paid


Principal Paid


Ending Balance


1


$50,000


$1,285.46


?


?


?


2


?


$1,285.46


?


?


?


3


?


$1,285.46


?


?


?


4


?


$1,285.46


?


?


?


5


?


$1,285.46


?


?


?






6427.30


?


$50,000


?










1.   The weighted average cost of capital (WACC) can be related to the basic accounting equation, as follows:

A = L + OE
Compare and contrast the WACC to this basic accounting equation. Does the WACC contain a profit component? How does the WACC relate to the discount rate used in a net present value (NPV) computation, using a case where NPV equals zero to make your point?

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