Category: Accounting

Complete questions 1-10 on pages 255-256 in the “accounting
systems and special journals reading”. You do not need to answer
question number 5. I will attach the file so you can read the pages

In 2015 Ebay, Inc. spun off PayPal, Inc. its 100% owned subsidiary.
Answer the following about this spin off:
A) What is the business (nontax) reason(s) for this split up? (Do a google search to find articles regarding this spin off)
B) What were the terms of the deal? That is, how were the Ebay, Inc shareholders compensated?
C) This appears to have been a Type D-Divisive Reorganization. What are the requirements to ensure that this type of reorganization is a “tax-free” reorganization. Be sure to include an in-depth discussion of the IRC Section 355 requirements. D) Do you think that Ebay, Inc qualified for tax free reorganization treatment when it spun off PayPal, Inc.? Explain your answer in detail. E) Taxpayers may use the tax-free provisions of corporate reorganizations under IRC 354-368 to avoid the taxable provisions of corporate liquidations. The courts have formulated three doctrines to help determine whether a business transaction is truly a tax-free reorganization. Name these three doctrines and describe how these doctrines are applied to business transactions labeled as “tax-free reorganizations”.
F) Blake, a shareholder of Ebay, Inc stock owned 1,000 shares of Ebay, Inc (before the spin off). Blake’s cost basis in the 1,000 Ebay shares was $21,000. The number of shares Blake will receive in PayPal after the spinoff is based on the ratio you determined in “B” above. In addition, Blake, for whatever reason will also receive $2,500 cash. Blake owns less than 50% of either Ebay, Inc or PayPal Inc. The fair market value of the Ebay shares after spin off was $50 per share and the fair market value of the PayPal shares after spin off was $30 per share. What are the tax ramifications, if any, to Blake on the PayPal shares and cash of $2,500 received by him upon spin off? If Blake needs to report income from the spin off, how much is the income to be reported and what is the character of the income? What is Blake’s basis in his Ebay, Inc and PayPal, Inc. shares that he owns after the spin off?

Assignment Question(s):
Q1. Suppose you are an auditor who has been tasked with looking into the internal controls at a company. Define an internal control system and list the main principles of internal controls. (5 Mark)
Q2. A company allows its customers to use bank credit cards to charge purchases. The company is charged 2.5% service charge credit card sales. (5 Mark)
A. On April 10, the company sold SAR 27,000 worth of merchandise to customers who used credit cards.
B. On April 18 Received cash proceeds less the service charge for the April 10 Prepare the company’s journal entry for each of the above transactions.
Q3 A company’s property records revealed the following information about its plant assets: Machine No. Cost Salvage Value Purchase Date Depreciation Method and Estimate Life
1 SAR 24,000 SAR4 ,000 1/1/2023 Straight-line (4 years)
2 SAR 30,000 SAR1,500 1/1/2023 Double-declining-balance (5 years)
Calculate the depreciation expense for each machine for the year ended December 31, 2023, and for the year ended December 31, 2024. (Marks 5)
Machine 1:
2023: 2024: Machine 2:
2023: 2024:

Please answer the questions labeled in part 2. I need this ASAP please. It should be done no later than 3 pm EST. Don’t look at deadline i couldn’t put an earlier time
Important Info
The order was placed through a short procedure (customer skipped some order details).
Please clarify some paper details before starting to work on the order.
Type of paper and subject
Number of sources and formatting style
Type of service (writing, rewriting, etc)

This course, ACCT 301 (Cost Accounting), was selected as a socially responsible course last year as part of the university’s social responsibility initiatives. This implies that the third activity of this course should be a presentation that demonstrates some aspect of social responsibility. Students should form groups of 4 students and prepare a presentation regarding the following title
How Social Responsibility Relate to Performance Evaluation and Compensation (Chapter 15)
Presentation should be submitted in PDF form

Assignment (2)
Deadline: Saturday 04/05/2024 @ 23:59
Course Name: Principles of Accounting Student’s Name:
Course Code: ACCT 101 Student’s ID Number:
Semester: Second CRN:
Academic Year: 1445 H
For Instructor’s Use only
Instructor’s Name:
Students’ Grade: /15 Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
Assignments submitted through email will not be accepted.
Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
Students must mention question number clearly in their answer.
Late submission will NOT be accepted.
Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism.
Submissions without this cover page will NOT be accepted. Assignment Question(s): Q1. Suppose you are an auditor who has been tasked with looking into the internal controls at a company. Define an internal control system and list the main principles of internal controls. (5 Mark)
Q2. A company allows its customers to use bank credit cards to charge purchases. The company is charged 2.5% service charge credit card sales. (5 Mark)
A. On April 10, the company sold SAR 27,000 worth of merchandise to customers who used credit cards.
B. On April 18 Received cash proceeds less the service charge for the April 10 Prepare the company’s journal entry for each of the above transactions.
Q3 A company’s property records revealed the following information about its plant assets: Machine No. Cost Salvage Value Purchase Date Depreciation Method and Estimate Life
1 SAR 24,000 SAR4 ,000 1/1/2023 Straight-line (4 years)
2 SAR 30,000 SAR1,500 1/1/2023 Double-declining-balance (5 years)
Calculate the depreciation expense for each machine for the year ended December 31, 2023, and for the year ended December 31, 2024. (Marks 5)
Machine 1:
2023: 2024: Machine 2:
2023: 2024:

The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
Assignments submitted through email will not be accepted.
Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
Students must mention question number clearly in their answer.
Late submission will NOT be accepted.
Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism.
Submissions without this cover page will NOT be accepted.

Please see the following attached files for the task sheet etc. The Excel document uploaded has the data that you need to reference and use in the assignment.

you need to answer the question in the case study based on the information from the link provided in the case.
you must visit the link, and watch all the videos and answer the questions accordingly. (PLASE THIS IS MANDATORY)
the link: https://apps.cte.smu.edu.sg/financial-statement/
the case is attached

detailed descriiption of what you did in Capsim. How did you make decisions? What information did you use?
Where did you find the information? Which decisions were successful? Why? Which decisions were not successful? Why?
What did you learn from these rounds? What will you do differently in upcoming rounds?
How did your team make decisions? Did you use consensus? Did you assign different areas to different people?
How did the decisions in different functional areas impact other functional areas?
What is your biggest takeaway from these rounds?