Solve the problems 5 and 6 presented in the following quest…
Solve the problems 5 and 6 presented in the following questions using MS Excel. Present each problem in a new separate worksheet and rename the sheet per Problem Number. ( 5 points) Save your Excel file using your name in this format: Lastname_Firstname_midterm.xlsx (5 points) Problem 5 Create a pie chart of the following data. Add Chart titles, legend and data labels in the outside edge. Which two categories together make up 60%? (25 points) Category Amount ($) Rent 1200 Groceries 400 Utilities 200 Transportation 150 Entertainment 250 Savings 300
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Note: use the following fact pattern for the next five questions. Assume the requirements of Sec. (§) 351 are satisfied. Danielle, Farrah, Colin, and Earl form Magnolia Inc. (a C corporation). Danielle contributes land and a building used in her business in return for stock worth $40,000. Magnolia also assumes the $60,000 mortgage on these assets. Danielle originally purchased the building for $50,000. Farrah contributes a truck in return for stock worth $5,000 and a $5,000 cash payment. Colin contributes cash for stock worth $40,000. Earl receives stock worth $10,000 in exchange for the performance of services. Shareholder (S/H) Transfer to Corp. FMV Basis to S/H Stock Rec’d (by S/H) Other Prop. Rec’d (by S/H) Danielle Land $30,000 $12,000 $40,000 (debt relief—$60,000) Building $70,000 $38,000 Farrah Truck $10,000 $15,000 $5,000 $5,000 cash Colin Cash $40,000 $40,000 $40,000 None Earl Services n/a n/a $10,000 None All contributed assets were held for multiple years prior to the formation of Magnolia. [question 1 of 5] What amount and character of gain (loss) is recognized by Danielle?
Read DetailsThis year, Holly Inc. donates equipment purchased last year….
This year, Holly Inc. donates equipment purchased last year. On the contribution date, the equipment has a $4,000 fair value and $0 adjusted basis. Holly’s charitable contribution deduction for this property is $0. (assume no special rule applies)
Read DetailsNote: assume the requirements of Sec. (§) 351 are satisfied….
Note: assume the requirements of Sec. (§) 351 are satisfied. Danielle, Farrah, Colin, and Earl form Magnolia Inc. (a C corporation). Danielle contributes land and a building used in her business in return for stock worth $40,000. Magnolia also assumes the $60,000 mortgage on these assets. Danielle originally purchased the building for $50,000. Farrah contributes a truck in return for stock worth $5,000 and a $5,000 cash payment. Colin contributes cash for stock worth $40,000. Earl receives stock worth $10,000 in exchange for the performance of services. Shareholder (S/H) Transfer to Corp. FMV Basis to S/H Stock Rec’d (by S/H) Other Prop. Rec’d (by S/H) Danielle Land $30,000 $12,000 $40,000 (debt relief—$60,000) Building $70,000 $38,000 Farrah Truck $10,000 $15,000 $5,000 $5,000 cash Colin Cash $40,000 $40,000 $40,000 None Earl Services n/a n/a $10,000 None All contributed assets were held for multiple years prior to the formation of Magnolia. [question 2 of 5] What is Danielle’s basis and holding period in the stock received?
Read DetailsSilverbell Corp. donates two assets to a public charity in D…
Silverbell Corp. donates two assets to a public charity in December of this year. The first asset is stock purchased four years ago for $27,000 with a fair value on the contribution date of $47,000. The second asset is a painting purchased in February of this year for $13,000 with a fair value on the contribution date of $16,000. What is Silverbell’s charitable contribution deduction? (ignore any income limitations)
Read DetailsA. What function would you use to find the determinant of a…
A. What function would you use to find the determinant of a matrix in Excel? [A] a) MINVERSE b) MDETERM c) MMULT d) TRANSPOSE B. Which of the following commands can not be used to format cells in Excel? [B] a) Format Cells b) Conditional Formatting c) Cell Styles d) Insert Function C. Which of the following is a necessary condition for two matrices to be multiplied? [C] a) The number of columns in the first matrix must equal the number of rows in the second matrix b) Both matrices must have the same dimensions c) The number of rows in the first matrix must equal the number of columns in the second matrix d) Both matrices must be square matrices D. Which of the following is not a valid data formats in Excel? [D] a) Number b) Date c) Currency d)Formula E. Which of the following are not for mathematical calculations? [E] a) SUM b) AVERAGE c) VLOOKUP d) STDEV.P
Read DetailsA nurse is caring for a client who is admitted to the labor…
A nurse is caring for a client who is admitted to the labor and delivery unit. Temperature: 37.1° C (98.7° F) Heart rate: 108/min Respiratory rate: 22/min Blood pressure: 100/60 mm Hg Oxygen saturation: 98% Urinalysis: Glucose: Negative (negative) Blood: None (none) WBC: None ( none) Ketones: +3 (none ) Laboratory Results: Hemoglobin: 11 g/dL (greater than 11g/dL) Hematocrit: 38% (greater than 33%) Glucose: 68 mg/dL (60 to 90 mg/dL) Platelets: 220,000mm3 (150,000 to 400,000 mm3) Client is a 20-year-old primigravida who is at 18 weeks of gestation and has a past medical history of pyelonephritis. Client is alert and oriented to person, place, time, and situation. Oral mucosa is dry. Turgor without tenting. Client reports 2.3 kg (5 lb) weight loss within the past 2 weeks. Fetal Heart Rate (FHR) 145 in lower suprapubic area via external Doppler ultrasound stethoscope. Review the diagram below. Specify what condition the client is most likely experiencing, decide what 2 actions the nurse should take to address that condition. antepartum.png
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