1.Mr. and Mrs. Adam moved from Chicago, IL to Detroit, MI so that Mrs. Adams could accept employment with Ultra Corporation.

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Need help with the following question please help…

1.Mr. and Mrs. Adam moved from

Chicago, IL to Detroit, MI so that Mrs. Adams could accept employment with Ultra Corporation. As part of her employment contract, Mrs. Adams received a $10,000 moving allowance. What is the effect of this $10,000 cash receipt on the couple’s AGI assuming the following?

Their deductible moving expenses totaled     $8,000.
Their deductible moving expenses totaled     $11,000

 
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TCO 2, 4, & 5) Prepare any journal entries based on the following data regarding the bank reconciliation

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TCO 2, 4, & 5) Prepare any journal entries based on the following data regarding the bank reconciliation

prepared by Titon Com for the month of April 20XX:

Part A. The unadjusted balance in the cash account on Titon’s books was $8,715.71.

Part B. The April 30 balance shown on Titon’s bank statement was $8,472.36.

Part C. A customer that owed Titon $700 on a note paid the $700, and $35 for interest directly to Titon’s bank. Titon did not know about this payment prior to receiving its bank statement.

Part D. Titon had made a deposit of $1,635.25 near the end of April that had not cleared the bank when it prepared Titon’s bank statement.

Part E. Titon discovered that a check it had written for $153.15 had been erroneously recorded in its books as $135.15. This check had been written to pay an account payable.

Part F Three checks that Titon had written during April had not cleared the bank by April 30. The amounts of these checks were $147.90, $372.15, and $209.45.

Part G. Titon has a checking account that earns interest on the minimum monthly balance. The bank statement showed that $35.12 of interest was earned during April.

Part H The bank statement showed that a check written by one of Titon’s customers was returned for NSF. The check was for $79.72. Titon did not know about the NSF check before receiving its bank statement.

Part I. The bank charged Titon a $10.00 service charge for the month of April.

REQUIRED: Prepare the necessary reconciliation entries for each part. Be sure to note which account is debited and credited. (Points : 25)

 
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 Chris spends $800,000 to build a qualified low-income housing project, which is placed in service on January

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1. Chris spends $800,000 to build a qualified low-income housing project, which is placed in service on January

1, 2012. He financed the project using his personal funds. What is the amount of the low-income housing credit that Chris may claim in 2012 (assuming a rate of 7.96%)? What is the total amount of the credit that Chris may claim as a result of the $800,000 expenditure?

2.

Casey owned stock in Jupiter Corporation that he donated to a university (a qualified charitable organization) on December 30, 2012. What is the amount of Casey’s deduction, assuming that he had purchased the stock for $10,000 on January 3, 2012, and the stock had a fair market value of $32,000 when he made the donation? Casey’s AGI is $400,000.

A. $0  B. $10,000C. $21,000D. $32,000E.None of the above
3.

Daren has investments in two passive activities. Activity A, acquired 3 years ago, produces income in the current year of $375,000. Activity B, acquired last year, produces a loss of $475,000 in the current year. At the beginning of this year, Daren’s at-risk amounts in Activities A and B are $250,000 and $400,000, respectively. What is the amount of Daren’s suspended passive loss with respect to these activities at the end of the current year? (Points : 5)

A. $0
B.$25,000C.$50,000D.$75,000
NO COPY AND PASTE ORIGINAL ANSWERS ONLY!!

 
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Alpha Company had the following inventory data for the current month.

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I need help with the following question.. thanks i only have limited time…

Questions #3`Alpha Company had the following inventory data for the current month.UnitsUnit PriceTotalInventory 12/1/1320$ 45$ 900Purchase25$ 50$ 1,250Purchase35$ 55$ 1,925Available for Sale80$ 4,075Inventory 12/31/1325Quantity Sold55Compute cost of goods sold for each of the following methods:i. Average costii. First in, first out (FIFO)iii. Last in, first out (LIFO)
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