What are the nature and amount of Melaney’s losses? Property
a. What are the nature and amount of Melaney’s losses?
Property
Type of Gain or Loss
Amount Before
Any Limitations
a.
Uncollectible loan
to friend
Long-term capital loss X
22,000
X
b
Worthless Oak
corporate bonds
Ordinary loss X
50,000
X
C.
Loss on $ 1244
corporate stock
Long-term capital loss X
10,000
X
b. What is Melaney’s AGI for 2019 assuming that she has $65,000 of ordinary gross income from sources other than those discussed?
12,000
c. What are the nature and amount of Melaney’s loss carryforwards?
She has $
5,000
in short-term capital loss carryforward and $
32,000
in long-term capital loss carryforward.
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The following information applies to the questions displayed below.
The following information applies to the questions displayed below.]
Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company’s inventory balances were as follows:
Raw materials$77,500Work in process$32,800Finished goods$34,800
The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company’s predetermined overhead rate of $12.75 per direct labor-hour was based on a cost formula that estimated $510,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year:
- Raw materials were purchased on account, $654,000.
- Raw materials use in production, $618,800. All of of the raw materials were used as direct materials.
- The following costs were accrued for employee services: direct labor, $460,000; indirect labor, $150,000; selling and administrative salaries, $270,000.
- Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods warehousing), $417,000.
- Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $360,000.
- Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year.
- Jobs costing $1,539,250 to manufacture according to their job cost sheets were completed during the year.
- Jobs were sold on account to customers during the year for a total of $3,172,500. The jobs cost $1,549,250 to manufacture according to their job cost sheets.
rev: 09_28_2018_QC_CS-140681
10. What is the cost of goods available for sale during the year?
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Hickory Company manufactures two products—13,000 units of Product
Hickory Company manufactures two products—13,000 units of Product
Y and 5,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all $729,000 of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z:
Activity Cost PoolActivity MeasureEstimated Overhead CostExpected ActivityMachiningMachine-hours$231,60012,000MHsMachine setupsNumber of setups$55,900130setupsProduct designNumber of products$77,0002productsGeneral factoryDirect labor-hours$364,50014,400DLHs
Activity MeasureProduct YProduct ZMachine-hours6,3005,700Number of setups4090Number of products11Direct labor-hours9,0005,400
rev: 03_28_2018_QC_CS-122670
12. Using the ABC system, what percentage of the Machining costs is assigned to Product Y and Product Z? (Round your “Percentage” answers to 2 decimal places.)
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Beverly has a warehouse and sales office in the Gulf Coast Region.
Beverly has a warehouse and sales office in the Gulf Coast Region.
The damage caused by Hurricane William (Hurricane), a Category 5 hurricane, has rendered the warehouse inoperable and has also forced the company to rent temporary office space in Houston to accommodate its sales force. Beverly reached a settlement with its insurance carrier related to the damage from the hurricane and received proceeds of $15 million from its insurance carrier in connection with its claim for reimbursement. Beverly plans to use the insurance proceeds to fund its defined-benefit pension plan, rather than to rebuild the destroyed facility.
Required:
a. Determine the appropriate cash flow statement treatment — classification (e.g., operating, investing,
financing) — for the above transactions.
b. What international accounting standard (IFRSs) applies to cash flow statement presentation?
In general, how do those guidelines compare to U.S. GAAP in these particular situations?
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ounding region and intends to complete construction and open each of the new stores over the next three years.
1. ounding region and intends to complete construction and open each of the new stores over the next three years. As a result of this growing need to obtain new, readily available capital, Beverly entered into a three-year revolving line of credit (the “Facility”) with its bank on January 1, 2010. The line of credit has a maximum borrowing capacity of $100 million.
Required:
1a. Should Beverly present the borrowing and payment activity related to its revolving line of credit as
cash flows from operating, investing, or financing activities for the year ended December 31, 2010?
1b. Based on the following facts and circumstances, determine whether Beverly should present its
borrowing and payment activity under the Facility on a net or gross basis within the financing
activities section of its statement of cash flows for the year ended December 31, 2010.
• The line of credit has a maximum borrowing capacity of $100 million, and
under the terms of the agreement, all draws are considered to be due on demand.
• On July 15, 2010, Beverly drew $60 million on the Facility.
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Terrorism and Counterterrorism
The 1916 Easter Rising is associacted with what group? | The IRA | ||
2. | According to Bernard Lewis, the Middle East is not a geographical region. T or F | True | |
3. | According to Islam, Mohammed was born in which city? | Mecca | |
4. | According to _______, terrorists seldom behave like normative street criminals. | D. Douglas Bodrero | |
5. | According to the text, in what year was Mohammed born? | 570 AD | |
6. | According to the text, ____ is the only group that has made an effort to obtain a nuclear device. | Al Qaeda | |
7. | According to the text, the definition of ______ changes with social and historical circumstances. | anarchism | |
8. | According to the text, the _____ have conducted more suicide bombings than any other group. | LTTE Black Tigers | |
9. | After the September 11 attacks, the federal government immediately budgeted $4.8 billion to protect the _____ industry | aviation | |
10. | Alienation is the process that changes a person’s socially acceptable behavior into terrorism. T or F | False | |
11. | Al Jazeera is Lebanon’s national television network. T or F | True | |
12. | All countries have prospered through globalization. T or F | False | |
13. | Although most of the country is in Asia, _____ was accepted as a partner in NATO | Turkey | |
14. | Although theological divisions with Sunnis would eventually arise and the Shi’ites themselves would split into competing sects, the first division in Islam was political. T or F | ? | |
15. | Ambiguity strengthens the ability to create a sustainable news frame. T or F | False | |
16. | American television reports on terrorism are highly objective. T or F | ? | |
17. | _____ and ______ are the primary influences upon single-event terrorists such as suicide bombers. | Ideology, religion | |
18. | Anthrax is considered a | bacteria | |
19. | Any virtual network that allows communication is known as: | New Media | |
20. | The ____ are ethnic Turkmen, mostly Sufi Muslims, and they have lived in and governed parts of Xinjiang province for 200 years. | Uighurs | |
21. | ____ are not fighting an international jihad for a caliphate? they want independence. | ? |
22. | As the world moves closer to a global economy, terrorists have found that striking _____ increases the effectiveness of operations. | economic targets | |
23. | _______, as used by John Horgan, refers to the psychological and social factors that motivate people to join and remain in terrorist groups. | Routes to terrorism | |
24. | ____ attacks are susceptible to antibiotics. | Bacterial | |
25. | Beijing claims that ___ is/are attempting to overthrow Chinese rule in Xinjiang province and establish an Islamic state. | International jihadists | |
26. | The Black and Tan War is associated with which organization? | The IRA | |
27. | The British began creating the modern nation of Nigeria in ____ when they assumed control of the area’s coast. | 1845 | |
28. | Censorship, regulation, and gathering data from communication threaten the basis of democracy. T or F | False | |
29. | Che Guevara designed practical guides for small urban terrorism. T or F | True | |
30. | The classic approach in television is the reporting frame. | True | |
31. | Concealing the source of illegal income in confusing, sometimes multiple financial actions is known as: | layering | |
32. | Congress mandates that all radioactive waste from America’s nuclear power plants be transported to a repository in what state? | Nevada | |
33. | Criminals become involved in terrorist groups for economic gain, and they have a low level of commitment to a cause. T or F | False | |
34. | _____ criminology focuses on the common actions of lawbreakers. | Practical | |
35. | The Cuban Revolution did not create guerilla warfare. T or F | True | |
36. | The current struggles in Ireland largely started in 1969 when riots broke out in Londonderry and Belfast after the annual Apprentice Boys parade. T or F | ? | |
37. | Daly says that the Taliban believes that the most effective way to destroy the Pakistan government is to attack | economic targets | |
38. | The definition of terrorism fluctuates according to the interests of the group defining the term. T or F | True | |
39. | The definition of terrorism is not only produced from various social constructs, but also developed through the application of ____: | Political power | |
40. | The domestic terror bombing in Oklahoma City occurred in: | 1995 |
41. | ______ do not support centralized control of the economy. | Anarchists | |
42. | Ebola virus is considered a _____. | Hemorrhagic fever | |
43. | Economic support for terrorism always involves money. T or F | False | |
44. | The Economists reports that terrorism is _______ in terms of the causalities and destruction terrorist events cause. | Cost-effective | |
45. | _____ enter the body through ingestion, respiration, or contact. | Nerve agents | |
46. | The ETA ceased all activity throughout Europe | False | |
47. | The ETA death squads evolved into Anti-terrorist Liberation Group (GAL) | true | |
48. | ETA terrorism was at its peak in the 1960s | True | |
49. | Ethnic terrorists are usually more nationalistic than their religious counterparts. T or F | True | |
50. | Ethnic terrorists try to forge a(n) ______________ identity | National | |
51. | The Euskadi Ta Askatasuna (ETA) is Europe’s longest surviving ethnic conflict. T or F | True | |
52. | The first talk of anti-money laundering statutes began to appear in the 1970s, and it was finally outlawed in 1986. T or F | True | |
53. | The followers of Ali are known as Sunnis T or F | False | |
54. | Following the split of the Islamic faith, the family of ____assumed control of the Islamic movement and ruled the first Arab empire. | Uthman | |
55. | Gender-Biased reports do not weaken our ability to respond to terrorism. T or F | False | |
56. | Globalization has facilitated a global underground economy – providing for illegal trade routes for drugs, arms smugglers, contraband dealers, and human traffickers. T or F | True | |
57. | Guerilla tactics were used throughout the Napoleonic Wars. T or F | True | |
58. | Guerilla warfare originated in Spain. T or F | True | |
59. | Gulf states include only those Arab kingdoms bordering the Dead Sea. T or F | False | |
60. | Habub Akdas established al Qaeda in | Turkey | |
61. | HEU stands for ____. | Highly enriched uranium | |
62. | Hezbollah and Hamas use the Latin American drug trade to raise funds. T or F | True |
63. | If calculated by the sheer number of attacks, separatists present more of a threat to Europe than any other form of terrorism. T or F | ? | |
64. | In 1949, Xinjiang province was ____ Uighur, but it may be less than 50 percent today. | 90 percent | |
65. | In 1969, Colonel Muammar Gadhafi seized power in a military coup, claiming Libya as an anti-Western socialist state. T or F | True | |
66. | In 2003, Al Qaeda began targeting oil facilities in what country? | Saudi Arabia | |
67. | The ______ in eastern Turkey conducted the least deadly attacks in the course of modern suicide bombing, killing an average of two people per incident. | ? | |
68. | The initial split of the Islamic faith into the Sunnis and Shi’ites was based on the issue of _______. | Leadership | |
69. | In terms of terrorism, law enforcement agencies, intelligence organizations, and military forces need to take a practical criminological approach to terrorism. T or F | True | |
70. | The internet has no real impact on news coverage, and generally does not offer any more information than that of the established media in reporting an event. T or F | False | |
71. | ____ is 99 percent Muslim and was the home of the last caliphate. | Turkey | |
72. | A _____ is a collection of particular people who are attacked by terrorist simply because they belong to a particular unit. | group target | |
73. | ____ is a tradition of orthodox Muslims who follow the Prophet and the early elders of the faith. | Salafism | |
74. | _____ is considered a founding father of criminology. | Cesare Beccaria | |
75. | ____is considered a non-contagious bacterial infection. | Anthrax | |
76. | Ismalis believe that there were twelve Imams who followed Mohammed. T or F | True | |
77. | ____ is the site of a battle between the Muslims of Medina and the merchants of Mecca in 624. | Baadr | |
78. | It is hard to trace some money because it is hidden in underground networks. T or F | True | |
79. | It is popularly believed that the term money laundering first appeared in the 1920s. T or F | True | |
80. | J. Bowyer Bell refers to _______ terrorism, which is a form of violence that occurs in Africa where arbitrary national boundaries have been drawn through ethnic and tribal divisions. | endemic | |
81. | Leaders of the Irgun studied and incorporated the tactics of Marighella. T or F | ? |
82. | Lone wolves represent the most complex form of terrorism. T or F | True | |
83. | Luckily for counterterrorist forces, terrorists do not comprehend the power of the Internet. T or F | False | |
84. | Mainstream Muslims following the caliph were conventionally called Sunnis, while the followers of Ali became known as Shi’ites. T or F | True | |
85. | The major factor in deciding to employ suicide terrorists is the ____ of the group | Religious beliefs | |
86. | Many international terrorist groups move money through an ancient trading network called the hawala system. T or F | True | |
87. | Many scholars agree that the narcotics trade is a primary source of money for terrorist organizations. T or F | True | |
88. | The Mau Mau movement is based in which of the following countries? | Kenya | |
89. | The Mau Mau movement originated in: | Kenya | |
90. | The Mau Mau uprising was a(n) _____ resistance movement by a tribe displaced by colonial agricultural policies. | urban | |
91. | The meaning of terrorism has changed with political tides in Western history. T or F | True | |
92. | Modern Spain emerged from the unification of several Hispanic kingdoms in the late 1700s. T or F | ? | |
93. | Modern terrorism, as defined in the text, surfaced with violent anarchists in the late ____. | 1800s | |
94. | Modern terrorism developed out of the _____. | French Revolution | |
95. | Mohammed was born in Mecca T or F | True | |
96. | Most Basques were interested in cultural identity, not class revolution. T or F | true | |
97. | The most damaging Sikh attack was on an Indian _____. | temple | |
98. | Most dirty-bomb scenarios are based on the premise that a agent will be used with a conventional explosive. | ? | |
99. | Most Muslims in Nigeria were originally _____ and remain so today. | Sufis | |
100. | The motivations of criminals and terrorists are the same. T or F | False | |
101. | Muslims believe Mohammed created the perfect Islamic community at _____. | Medina | |
102. | Muslims believe that Jews, Christians, and Zoroastrians worship the same deity. T or F | True | |
103. | Nationalistic terrorists adopted the tactics, but not the ideology of: | anarchist |
104. | Nerve agents, blood agents, choking agents, and blistering agents are all examples of ____ agents. | Chemical | |
105. | New media is any virtual network that allows communication, including blogs, internet postings, and social networks. T or F | True | |
106. | New Networks have challenged the West’s hold on international news. T or F | True | |
107. | Nidal Malik Hasan is considered a lone wolf. T or F | True | |
108. | On August 15, 1969, fighting in Ireland was focused in which two cities? | Belfast and Londonderry | |
109. | One fact that influenced the adoption of violent action by anarchists was the invention of dynamite. T or F | True | |
110. | The only persons to practice terrorism in the name of their religion are Muslim fanatics. T or F | ? | |
111. | On November 5, 2009, U.S. Army Major Nidal Malik Hasan went on a shooting spree in ______, killing 13 people. | Fort Hood, TX | |
112. | Organized crime and terrorism are identical. T or F | False | |
113. | PKK terrorists combined nationalism with ____. | ideology | |
114. | The PKK was founded in 1974 to fight for an independent ____. | Kurdistan | |
115. | The political party of the IRA is known as | The Provisionals | |
116. | Presenting illegally gained money in the formal economic system as if it were the result of a legal activity is known as: | integration | |
117. | Putting criminal proceeds in the legitimate financial system is known as: | placement | |
118. | The Quran is a codified version of the communication Mohammed received from the angel _____. | Gabriel | |
119. | Radicalization is a process that is not specifically applicable to any national, political, religious, or ideological group. T or F | True | |
120. | Radicalization is the process that changes a person’s socially acceptable behavior into terrorism. T or F | True | |
121. | Radicalization is the result of persecution, precedent, poverty, and perseverance. T or F | True | |
122. | ________ refers to the psychological process of adopting extremist positions. | Radicalization | |
123. | Reporting frames form the basis for communicating symbols. T or F | False |
124. | Research has shown that the media has virtually ignored domestic security issues. T or F | True | |
125. | The reserve force of the Royal Ulster Constabulary (RUC) was known as______. | The Provisionals | |
126. | Rohan Gunaratana sees that suicide bombings have which three things in common? | Secrecy, reconnaissance, and rehearsal | |
127. | The Salafi movement refers to those people who impose Islam with force and violence. T or F | True | |
128. | “Selective terrorism” as s strategy was developed by ________. | Michael Collins | |
129. | Sending unsecure e-mail is the most common usage of the Internet by terrorists. T or F | True | |
130. | Sikhism embodies elements of ____ and Hinduism. | Islam | |
131. | Small terrorist groups tend to be weak, while larger groups have more staying power. T or F | True | |
132. | The social context surrounding the term terrorism influences how it is defined. T or F | True | |
133. | Some Islamic countries refer to their legislative body as a majlis. t or F | ? | |
134. | “Stay tuned” is an example of a televisions network’s drama pattern. T or F | ? | |
135. | Steganography is frequently said to be one of the Internet’s greatest vulnerabilities in light of criminal and terrorists communication. T or F | True | |
136. | The struggles of separatist movements have shaped modern terrorism. T or F | True | |
137. | Studies have shown American news media to have strong conservative bias. T or F | True | |
138. | Sunnis comprise an estimated ____ percent of all Muslims today. | 85-90 | |
139. | Sunnis compromise an estimated 85-90 percent of all Muslims today. T or F | True | |
140. | ______’s work On Crimes and Punishment is the classic Enlightenment study of criminology. | Cesare | |
141. | Television and the internet give terrorists an immediate international audience. T or F | True | |
142. | Television generates the same stereotypes for female terrorists and politicians. T or F | True | |
143. | Television impacts the way women are viewed in terrorist organizations. T or F | True |
144. | The term terrorism is not loaded with politically explosive meanings. T or F | False | |
145. | Terrorism began as government repression in which country? | France | |
146. | Terrorism came into existence during the American Revolution. T or F | False | |
147. | Terrorism is an organizational process. T or F | True | |
148. | Terrorism is difficult to define because it is not a physical entity that has dimensions to be measured, weighed, and analyzed. T or F | True | |
149. | ____ terrorism refers to the artificial mixing of rival ethnic groups, tribes, nationalities, or cultures in a nation- state. | Endemic terrorism | |
150. | Terrorist operations are extremely costly. T or F | True | |
151. | Terrorists are treated differently from criminals and other enemies of the state. T or F | True | |
152. | Terrorists financing refers to the methods terrorist groups use to raise the material needed to support operations and organizations. T or F | True | |
153. | Terrorists groups have a special relationship with the news media. T or F | True | |
154. | Terrorists may select targets of opportunity, but the target has a primarily ______ value. | Symbolic | |
155. | Terrorists often move in the same circles as organized criminals, smugglers, and drug dealers. T or F | False` | |
156. | Terrorists rarely use the Internet for propaganda. T or F | False | |
157. | Terrorists use the Internet for target selections. T or F | True | |
158. | There are four types of biological agents: (1) natural poisons, or toxins that occur without human modification? (2) viruses? (3) bacteria? and (4)_____. | Plagues | |
159. | There is no consensus about the definition of radicalization. T or F | False | |
160. | There is no difference between separatist violence, ideological terrorism, and religious terrorism. T or F | true | |
161. | To finance its operations, the IRA developed an organized crime network known as a : | Capone discovery | |
162. | Turkey has lost 40,000 people to ____ since 1980. | terrorism | |
163. | The type of nuclear bomb used at Hiroshima employed | highly enriched uranium | |
164. | The United States has experienced ____ notable biological attacks since 1980. | two |
165. | The violence of the French Revolutionary period is colloquially known as _____. | The Reign of Terror | |
166. | The way that people view reality is known as a(n): | Social construct | |
167. | The Weather Underground was a left-wing domestic terrorist group. T or F | True | |
168. | What biological agent infected citizens through the mail in the wake of the attacks on September 11, 2001? | Anthrax | |
169. | When terrorists move goods, people, weapons, money, or contraband they must do so in underground networks. T or F | True | |
170. | When terrorists raise money, they usually commit the crime after they get the funds. T or F | True | |
171. | Which of the following is not an example of layering money? | putting the money in a checking account | |
172. | Which of the following is NOT a target for cyberterrorism? | Freeways | |
173. | Which of the following is NOT a target of transnational attack? | Consumerism | |
174. | Which of the following is not a way that money is laundered? | exchange | |
175. | Which of the following is not true of criminals? | They plan their schemes extensively. | |
176. | Which of the following is not true of terrorists? | They run when confronted with force. | |
177. | Which of the following is the process of converting the proceeds of crime into assets that can be used in the formal economy? | Integration | |
178. | Which of the following refers to the methods used to find terrorist groups or operations? | Terrorist financing | |
179. | Which of the following religions were not founded in th Middle East? | Hinduism | |
180. | Which of the following terrorist organizations is most likely to use the black market peso exchange? | FARC | |
181. | Which organization is viewed as having set the stage for modern separatist terrorism? | IRA | |
182. | While the media enhances the power of terrorism, it does not cause it. T or F | True | |
183. | Who are the four major prophets of Islam? | Abraham, Moses, Jesus, and Mohammed |
184. | Who is considered thee father of communism? | Karl Marx | |
185. | Who of the following authored The Communist Manifesto? | Marx and Engles | |
186. | Zaidi Shi’ites compose the majority of Shi’ite Muslims. T or F | ? | |
187. | The Zionist movement took place at the same time the Ottoman Empire was forming. T or F | True |
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