The Jones are a married couple and have always filed joint tax returns. On May 18, 2017, the couple was assessed with tax deficiencies for the 2015 tax year. The assessment relates to income paid to Mr. Jones which was not reported on the joint return. The couple’s accountant prepared the return. The couple reported $50,000 income for 2015. The amount of the income omitted was $200,000. Mrs. Jones is a homemaker. She admits that based on their lifestyle she thought the couple's income was approximately $100,000 ($50,000 more than reported). However she had limited access to her husband's financial documents and relied on the accountant. She claims she had no knowledge of the extent of the unreported income and assumed much of their income was non- taxable in nature. You should advise her that she:

a. Under no circumstances will she be responsible for any of the taxes due because an accountant prepared the return.
b. May be able to avoid liability to the extent she had no actual knowledge of the deficiency when filing the return. The burden of proof will be on the IRS.
c. May be able to avoid liability to the extent she had no reason to know of the deficiency (and did not have actual knowledge) when filing the return. The burden of proof will be on her.
d. None of the above.

Why does an organization prepare a balance sheet? a. to reveal what the organization owns and owes at a point in time b. to reveal how well the company utilizes its cash c. to calculate retained earnings for a given accounting period d. to calculate gross profit for a given accounting period

Blue computers, a major pc manufacturer in the united states, currently has plants in kentucky and pennsylvania. the kentucky plant has a capacity of 1 million units a year and the pennsylvania plant has a capacity of 1.5 million units a year. the firm divides the united states into five markets: northeast, southeast, midwest, south, and west. each pc sells for $1,000. the firm anticipates a 50 perc~nt growth in demand (in each region) this year (after which demand will stabilize) and wants to build a plant with a capacity of 1.5 million units per year to accommodate the growth. potential sites being considered are in north carolina and california. currently the firm pays federal, state, and local taxes on the income from each plant. federal taxes are 20 percent of income, and all state and local taxes are 7 percent of income in each state. north carolina has offered to reduce taxes for the next 10 years from 7 percent to 2 percent. blue computers would like to take the tax break into consideration when planning its network. consider income over the next 10 years in your analysis. assume that all costs remain unchanged over the 10 years. use a discount factor of 0.1 for your analysis. annual fixed costs, production and shipping costs per unit, and current regional demand (before the 50 percent growth) are shown in table 5-13. (a) if blue computers sets an objective of minimizing total fixed and variable costs, where should they build the new plant? how should the network be structured? (b) if blue computers sets an objective of maximizing after-tax profits, where should they build the new plant? how should the network be structured? variable production and shipping cost ($/unit) annual fixed cost northeast southeast midwest south west (million$) kentucky 185 180 175 175 200 150 pennsylvania 170 190 180 200 220 200 n. carolina 180 180 185 185 215 150 california 220 220 195 195 175 150 demand ('000 units/month) 700 400 400 300 600

Barbara flynn is in charge of maintaining hospital supplies at general hospital. during the past year, the mean lead time demand for bandage bx-5 was 65 (and was normally distributed). furthermore, the standard deviation for bx-5 was 6. ms. flynn would like to maintain a 90% service level.refer to the standard normal table for z-values.a) what safety stock level do you recommend for bx-5? safety stock=)what is the appropriate reorder point? reorder point=