Category: Accounting

You have been hired as a consultant by TC Ice Cream. As part of its expansion plan, TC Ice Cream wants to limit the number of flavors that they sell and only focus on those that are the most profitable. You will do an analysis of two flavors for a specific division and determine which flavor should be kept and which should be removed.

• Option A: Keep Flavor One
• Option B: Keep Flavor Two

The TC Ice Cream management team has tasked you with doing an in-depth analysis to determine which of the two options will be the most profitable, given the monthly advertising expense of $5,000. Use the division that you selected in Module Two and the two flavors that you selected for Milestone One. Consider the TC Ice Cream data set that contains data about quantity sold, advertising expenses, flavor rating, social media posts, and event promotions.

Prompt

Part 1: Data Analysis Workbook

Analyze the data from the provided TC Ice Cream data set and identify current and future trends and patterns in operations.

Complete the following visualizations for each flavor. The visualizations for Flavor One should be completed in the Flavor One Analysis sheet and the visualizations for Flavor Two should be completed in the Flavor Two Analysis sheet of the . It is recommended that you use pivot table filtering to filter the data to the specific division and flavor you have selected.

Specifically, you must address the following rubric criteria:

1. Present the key descriptive statistics for the five quantitative variables in a table (quantity sold, advertising expenses, flavor rating, social media posts, and event promotions). The key descriptive statistics include the mean, median, standard deviation, and range.
2. Analyze the TC Ice Cream data to identify trends and patterns for the two flavors you have selected. For each flavor, create the following visualizations:
   1. Create a line chart (also known as a trend chart) using the qualitative variable Date and the quantitative variable Quantity Sold to provide a visualization displaying quantity sold by month.
   2. Create a line chart (also known as a trend chart) using the qualitative variable Date and the quantitative variable Flavor Rating (average) to provide a visualization displaying flavor rating (average) by year/quarter/month.
   3. Create a combo chart using the qualitative variable Date (x-axis) and the quantitative variables Quantity Sold (clustered column) and Advertising Expenditures (line – secondary axis).
   4. Create a combo chart using the qualitative variable Date (x-axis) and the quantitative variables Quantity Sold (clustered column) and total Social Medial Posts and Event Promotions (line – secondary axis). Hint: create a pivot table variable to sum the social media posts and event promotions.
   5. Create a box and whiskers chart using the qualitative variable Quantity Sold. This will help identify any outliers in the Quantity Sold data.
   6. Create a histogram for the qualitative variable Flavor Rating. It is recommended to use the data analysis add-in and the analysis tool Histogram to create the data for the visualization.
3. Outliers: Identify any outliers that you see and explain how they have an impact on the overall admission and expense trends. Outliers are the data points that can have an impact on your descriptive analysis.
4. Perform two bivariate regressions to provide recommendations.
   1. For the first bivariate regression for Flavor One, the dependent variable should be Quantity Sold. Choose an independent variable from one of the remaining attributes (Advertising Expenses, Flavor Rating, Social Media Posts, Event Promotions).
   2. Use the Flavor One Bivariate Analysis sheet.
   3. For the second bivariate regression for Flavor Two, the variable should be Quantity Sold. Choose an independent variable from one of the remaining variables (Advertising Expenses, Flavor Rating, Social Media Posts, Event Promotions).
   4. Which independent variable seems most appropriate to lead you to a monthly quantity sold of 3,00012,000 gallons?
5. Perform two multivariate regressions to provide recommendations.
   1. For the first multivariate regression, the dependent variable should be Quantity Sold (the column in the data set). Choose two independent variables from one of the remaining attributes (Advertising Expenses, Flavor Rating, Social Media Posts, Event Promotions). Use the Flavor One Multi. Analysis sheet.
   2. Which combination of the attributes seems most appropriate to lead you to the expense of $5,000?
   3. For the second multivariate regression, the dependent variable should be Quantity Sold (the column name in the data set). You should choose two independent variables from one of the remaining attributes (Advertising Expenses, Flavor Rating, Social Media Posts, Event Promotions). Use the Flavor Two Multi. Analysis sheet.
   4. Which combination of the attributes would seem appropriate to lead you to a monthly quantity sold of 3,00012,000 gallons?

Part 2: Final Recommendation Analysis PowerPoint Presentation
Create a PowerPoint presentation designed for the TC Ice Cream management team to share the results of your analysis and provide your final recommendation.

1. Current State Analysis (slides 14): State the option (A or B) that you chose and three reasons for your choice.
   1. Analyze the histogram of the flavor ratings for each flavor you selected.
   2. Which option (Option A or Option B) would you choose based on your analysis, given the monthly advertising expenses of $5,000?
   3. Why did you choose your selected attributes?
   4. Describe any relationships or trends you observed while conducting your analysis.
2. Predictions and Trends Analysis (slides 57): Present the predictions based on the regressions that you have analyzed.
   1. Briefly describe the key elements for each regression presented in Excel. Cite the regression coefficient, regression line equation, p value, and significance F in your description.
   2. Which of the independent variables are impactful, and why?
3. Executive Audience Summary (slide 8): Summarize your findings for an executive audience.

What to Submit

To complete this project, you must submit the following:

• TC Ice Cream Excel Workbook:
  Submit your completed as an Excel file.
• Final Recommendations Analysis Presentation:
  Submit a PowerPoint presentation with 8 to 10 slides. There is no template for this assignment, so you may use an earlier presentation template or create your own design. Any sources should be cited according to APA style. Consult the for more information on citations.

Project Rubric

Criteria	Exceeds Expectations (100%)	Meets Expectations (90%)	Partially Meets Expectations (70%)	Does Not Meet Expectations (0%)	Value
Descriptive Statistics	Exceeds expectations in an exceptionally clear, insightful, sophisticated, or creative manner	Presents descriptive statistics for the five quantitative variables (mean, median, standard deviation, and range) with no errors or omissions for the two flavors selected	Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include presenting error-free statistics or including critical data	Does not attempt criterion	10
Flavor One Trends and Charts	Exceeds expectations in an exceptionally clear, insightful, sophisticated, or creative manner	Creates six visualizations for flavor one to identify trends	Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include creating more charts or trends, and using data variables with minimal errors or omissions	Does not attempt criterion	10
Flavor Two Trends and Charts	Exceeds expectations in an exceptionally clear, insightful, sophisticated, or creative manner	Creates six visualizations for flavor two to identify trends	Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include creating more charts or trends, and using data variables with minimal errors or omissions	Does not attempt criterion	10
Outliers	Exceeds expectations in an exceptionally clear, insightful, sophisticated, or creative manner	Identifies specific outliers in the data and describes how specific outliers impact the descriptive analysis	Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include highlighting specific outliers and their impact on charts or trends	Does not attempt criterion	10
Bivariate Regressions	Exceeds expectations in an exceptionally clear, insightful, sophisticated, or creative manner	Performs two linear bivariate regressions to provide recommendations	Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include clearly citing each of the outputs from regressions used to weigh the models usability, citing the regression best fit line model, and analyzing the scatterplot, best fit line, and residual plots	Does not attempt criterion	10
Multivariate Regressions	Exceeds expectations in an exceptionally clear, insightful, sophisticated, or creative manner	Performs two linear multivariate regressions to provide recommendations	Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include clearly citing each of the outputs from regressions used to weigh the models usability, citing the regression best fit line model, and analyzing the scatterplot, best fit line, and residual plots	Does not attempt criterion	10
Current State Analysis	Exceeds expectations in an exceptionally clear, insightful, sophisticated, or creative manner	Explains the analysis in a clear and detailed manner	Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include ensuring the analysis includes specific mention of data points, outliers, and trends that connect strongly with Excel analysis	Does not attempt criterion	10
Predictions and Trends Analysis: Bivariate Regression	Exceeds expectations in an exceptionally clear, insightful, sophisticated, or creative manner	Describes the key elements for each bivariate regression analysis in a clear and detailed manner	Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include ensuring that the report clearly mentions the attributes used for bivariate regression, connects with the given scenario, or cites the usability of the bivariate regression model to predict outcomes; connects the analysis strongly with Excel analysis	Does not attempt criterion	10
Predictions and Trends Analysis: Multivariate Regression	Exceeds expectations in an exceptionally clear, insightful, sophisticated, or creative manner	Describes the key elements for each multivariate regression analysis in a clear and detailed manner	Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include ensuring that the report clearly mentions the attributes used for multivariate regression, connecting with the given scenario, and citing the usability of the multivariate regression model to predict outcomes; connects the analysis strongly with Excel analysis	Does not attempt criterion	10
Executive Audience Summary	Exceeds expectations in an exceptionally clear, insightful, sophisticated, or creative manner	Creates a summary of findings that is appropriately tailored for an executive audience	Shows progress toward meeting expectations, but with errors or omissions; areas for improvement may include relying too heavily on visual or written analysis	Does not attempt criterion	5
Clear Communication	Exceeds expectations with an intentional use of language that promotes a thorough understanding	Consistently and effectively communicates in an organized way to a specific audience	Shows progress toward meeting expectations, but communication is inconsistent or ineffective in a way that negatively impacts understanding	Shows no evidence of consistent, effective, or organized communication	5
Total:					100%

Complete the problem in the partnership scenario that requires research and analysis as well as computation.

Note: The assessments in this course are presented in a sequence and must be completed in order. Do not complete Assessment 7 until you have submitted and received faculty feedback for Assessment 6.

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Introduction

There is a need for other forms of business ownership beyond sole proprietorship. Small businesses can only do so much to provide the public with an array of goods and services that match the public’s insatiable appetite. To this end, large corporate entities are better equipped to provide the required goods and services. Partnerships, in all of their forms, also fill a niche, especially in the area of services, such as legal, health, and welfare.

When it comes to these business entities’ responsibility for reporting their income and deductions, the tax code becomes very complicated. Their tax reporting needs may require the services of certified public accountants, who know the code thoroughly.

Corporate and partnership tax preparation require highly developed skills in research and analysis.

Note: The assessments in this course are presented in a sequence and must be completed in order. Do not complete Assessment 7 until you have received faculty feedback for Assessment 6.

Preparation

Corporate and partnership tax preparation require highly developed skills in research and analysis. Consider the following problems and research the applicable tax regulations to answer the questions.

Instructions

For this assessment, complete the following:

• Download .
• Using the primary source of reading list, locate and interpret regulations and publications that relate to each problem.
• Record your answers to the problems in a Word document.
• Provide an explanation for each answer, including any related calculations and evidence.
• Include the following criteria from the scoring guide in your responses.
  • Determine partners’ recognized gains, explaining how much they gained and the rationale.
  • Prepare self-employment income and basis at the end of the year.
  • Determine how much gain or loss must be recognized on a distribution, ending partnership basis, and basis in equipment.
  • Calculate the gain or loss on the sale of a partnership interest.
  • Determine the basis of the stock in the hands of the shareholder.
  • Determine taxable income on a C corporation and the book income.
  • Determine the amount of taxable dividend, nontaxable distribution, and capital gain.
• Submit the Word document containing your answers to the problem and the explanations for your answers.

Competencies Measured

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

• Competency 3: Assess types of non-individual entities subject to federal taxation.
  • Determine partners’ recognized gains, explaining how much they gained and the rationale.
  • Prepare self-employment income and basis at the end of the year.
  • Determine how much gain or loss must be recognized on a distribution, ending partnership basis, and basis in equipment.
  • Calculate the gain or loss on the sale of a partnership interest.
  • Determine the basis of the stock in the hands of the shareholder.
  • Determine taxable income on a C corporation and the book income.
  • Determine the amount of taxable dividend, nontaxable distribution, and capital gain.

Complete the partnership interest problem that requires you to apply research and knowledge of the rules and laws associated with at-risk or passive activity losses, as well as the individual alternative minimum tax (AMT).

Note: The assessments in this course are presented in a sequence and must be completed in order. Do not complete Assessment 6 until you have submitted and received faculty feedback for Assessment 5.

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Introduction

Tax regulations are in a state of constant change. Being able to locate and correctly interpret and apply the information to a problem is a highly valued skill.

Note: The assessments in this course are presented in a sequence and must be completed in order. Do not complete Assessment 6 until you have submitted and received faculty feedback for Assessment 5.

Preparation

Tax regulations are in a state of constant change. Being able to locate, correctly interpret, and apply the information to a problem is a highly valued skill. Consider each problem and research the applicable tax regulations to answer the questions.

Instructions

For this assessment, complete the following:

• Download .
• Using the primary source of reading list, locate and interpret regulations and publications that relate to each problem.
• Record your answers to the problems in a Word document.
• Provide an explanation for each answer, including any related calculations and evidence.
• Include the following criteria from the scoring guide in your responses.
  • Calculate the initial basis, allowed losses, and ending at-risk amounts.
  • Explain how to treat a loss on a federal income tax return.
  • Calculate what can be deducted on a final income tax return.
  • Calculate the loss disallowed by at-risk rules and how much of the loss is disallowed by passive loss rules.
  • Explain the tax effect in a specified scenario for the last year and the current year.
  • Calculate itemized deductions for AMT purposes and identify the amount of the AMT adjustment.
• Submit the Word document containing your answers to the problems and the explanations for your answers.

Competencies Measured

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

• Competency 1: Analyze the background of the federal income tax system.
  • Explain the tax effect in a specified scenario for the last year and the current year.
• Competency 2: Analyze the basics of individual income tax return preparation.
  • Calculate the initial basis, allowed losses, and ending at-risk amounts.
  • Explain how to treat a loss on a federal income tax return.
  • Calculate what can be deducted on a final income tax return.
  • Calculate the loss disallowed by at-risk rules and how much of the loss is disallowed by the passive loss rules.
  • Calculate itemized deductions for AMT purposes and identify the amount of the AMT adjustment.

Determine itemized deductions and complete a Schedule A for a tax scenario.

Note: Completing a tax form requires specific steps that need to be executed in a sequence. The assessments in this course are presented in a sequence and must be completed in order. Incorrect entries in previous assessments will result in incorrect entries in future assessments. Do not complete Assessment 4 until you have submitted and received faculty feedback for Assessment 3.

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Introduction

“If you make any money, the government shoves you in the creek once a year with it in your pockets, and all that don’t get wet you can keep.”

Will Rogers, American cowboy and humorist.

Staying with Will Rogers’ analogy, Schedule A is analogous to a sealed sandwich bag that protects some of the coins from the raging waters of government greed. If you are fortunate enough to have made significant income during a tax year, it is quite possible that you also have significant deductions to offset those monies. The Schedule A tax form allows taxpayers to itemize their deductions, rather than using the standard deduction.

Reference

Quotegarden.com. (n.d.). Quotations about taxes.

Note: The assessments in this course are presented in a sequence and must be completed in order. In Assessments 25, you will work step-by-step toward completing a 1040 tax return and all the necessary related forms, based on a provided scenario. Do not complete Assessment 4 until you have submitted and received faculty feedback for Assessment 3.

Preparation

The Schedule A tax form allows taxpayers to itemize their deductions, rather than using the standard deduction. For this assessment, you will determine itemized deductions for the Weavers for Schedule A.

Scenario

Jacob and Taylor Weaver, ages 45 and 42 respectively, are married and are filing jointly in 2021.

• They have three children, Ashley, age 9; Patrick, age 6; and John, age 17.
  • Social Security numbers are: Jacob, 222-33-4444; Taylor, 555-66-7777; Ashley, 888-99-1234; Patrick, 789-56-4321; John, 123-45-6789.
• Taylor works part-time as a paralegal.
  • She earned $31,000 in 2021.
• Income Taxes: $4,200 withheld.
• Interest received from Local Bank: $6,575.
• Estimated tax payments: $25,000.
  • $350 paid with their 2020 state tax return.
• Jacob and Taylor bought their first house in 2021.
  • Home mortgage interest: $12,246.
  • Property tax: $12,230.
• Federal income withholding: $2,350.
• Charities: $4,500.
• $435 to rent a moving truck.
• $8,000 to put new siding on the house.
• $11,600 for child care expenses ($5,800 for each child).
  • It was paid to Lil Tigers Daycare, 1115 S. Garrison St., Muncie, IN 47305 (EIN 98-7654321).
• Taylor is a part-time student at Ball State University in Muncie.
  • She received a 1098-T indicating tuition and fees for 2021 in the amount of $6,011.
• Health insurance for the family, through Taylor’s job, cost $7,500 for all 12 months of 2021.
• They paid deductibles and co-payments of $2,550.

Instructions

For this assessment, complete the following:

• Read the information provided in the scenario above.
• Use information and publications from reading list to determine itemized deductions for the Weavers for Schedule A, based on the scenario information.
• Add the information you determine to Schedule A.
• Submit Schedule A.

Competencies Measured

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

• Competency 2: Analyze the basics of individual income tax return preparation.
  • Apply laws and rules for state and local deductions on Schedule A tax form.
  • Apply laws and rules for medical expenses on Schedule A tax form.
  • Apply laws and rules for interest deductions on Schedule A tax form.
  • Apply laws and rules for charitable contributions on Schedule A tax form.
  • Interpret official rules and instructions to record correct entries on tax forms.

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UnitedHealth Group Incorporated (NYSE: UNH) is a diversified health and well-being company dedicated to helping people live healthier lives. The company operates under two distinct platforms: health benefits (UnitedHealthcare) and health services (Optum). Visit

Requirements

1. What are contingent liabilities?
2. Review Note 12 (Commitments and Contingencies), specifically the section labeled Legal Matters. Does UnitedHealth Group Incorporated report any contingencies? If so, provide a summary.
3. How should a company handle contingent liabilities that are reasonably possible or probable but cannot be estimated?
4. Review Note 12 (Commitments and Contingencies), labeled Government Investigations, Audits, and Reviews. Review specifically the Department of Justice (DOJ) decision to pursue certain claims within a lawsuit. How did UnitedHealth Group Incorporated handle the recording of this contingent liability?

Associated CO & LO:

• CO-2: Apply the accounting cycle.
  • LO-2.5: Prepare an income statement, a statement of retained earnings, and a balance sheet.

Assignment Instruction:

• Complete requirements 4 through 10 of the Jane’s Skateboards for the second milestone of the course project. You will use the file you completed in milestone one. Make sure you update the file if you have received feedback from your instructor about any errors you might have in your milestone one submission.
• You will use the Course Project Template Jane’s Skateboards.

Submission Instructions: [Enter the expectations for the student’s submissions. Samples are below]

• Save your file as “LastnameFirstinitial-ACCT105-M2.

Assignment Rubric Name:

Assignment Resources & Supports

• : You have free access as an APUS student. Sign in with your MyCampus Email credentials.
• : Watch this 3-minute video if you need guidance on submitting your assignment.

Many small businesses have to squeeze down costs any way they can just to survive. One way many businesses do this is by hiring workers as independent contractors rather than as regular employees. Unlike rules for regular employees, a business does not have to pay Social Security (FICA) taxes and unemployment insurance payments for independent contractors. Similarly, it does not have to withhold federal, state, or local income taxes or the employees share of FICA taxes. The IRS has a 20 factor test that determines whether a worker should be considered an employee or a contractor, but many businesses ignore those rules or interpret them loosely in their favor. When workers are treated as independent contractors, they do not get a W-2 form at tax time (they get a Form 1099 instead), they do not have any income taxes withheld, and they find themselves subject to self-employment taxes, by which they bear the brunt of both the employees and the employers shares of FICA taxes.

Requirements

1. When a business abuses this issue, how is the independent contractor hurt?
2. If a business takes an aggressive positionthat is, interprets the law in a very slanted wayis there an ethical issue involved? Who is hurt?