Partnership and Corporate Taxation (Acct 217) - Saddleback College

Partnership and Corporate Taxation (ACCT 217) 

Saddleback College 

Business Science Division 

Instructor: Carol Young Adams Term/Semester: Fall 2012 

Phone: 949-582-3203 ext. 3203 

(voicemail only) 

E-mail: cadams37@saddleback.edu 

Ticket #: 20380 

Office: BGS faculty offices Day & Time: Thursday, 7:00 p.m. – 9:50 

p.m. 

Office Hours: Generally available in the 

BGS office one hour before class 

Location: BGS 253

Saddleback College 

Partnership and Corporate Taxation 

ACCT 217 – Fall 2012 Course Syllabus 

Instructor: Carol Young Adams 

Phone: (949) 582-3203 ext. 3203 (voicemail only) 

E-mail: cadams37@saddleback.edu 

Office: BGS faculty office 

Office Hours: Generally one hour before class 

Saddleback Web Site and Blackboard Access: http://www.saddleback.edu 

I will do my best to return any emails within 48 hours, other than on weekends. It’s best to reach 

me by email rather than telephone. 

Note: Every student is assigned a college e-mail account and pin number (password). 

Do not change your e-mail address. If you prefer to receive e-mail at another address, go 

to http://www.saddleback.edu and then to MySite, select “E-mail” and follow the 

instructions under “Account Information” to automatically forward your messages to the 

address of your choice. 

Course Requirements/Prerequisites: ACCT1A and ACCT216 (recommended). 

Student Learning Objectives and Format: (3 units) Upon the completion of this 

course, the student will be able to: 

1. Describe and explain the filing requirements for partnership and corporate income 

tax returns. 

2. Describe the various methods allowed for computing depreciation and compute 

the depreciation deduction for a variety of assets. 

3. Distinguish between taxable and non-taxable sales, exchanges and other 

transactions. 

4. Contrast the taxation of individuals, partnerships and corporations. 

5. Prepare sample federal partnership and corporate income tax returns and compute 

the applicable tax. 

6. Outline the income taxation of estates and trusts. 

7. Obtain relevant tax information from applicable reference sources. 

This class will be conducted using lectures, case studies, quizzes, and homework based 

upon textbook materials established by the college. Communication (i.e., 

announcements, handouts, and other materials) will be administered using Saddleback 

- 1 -

College’s Blackboard Learning System. Supplemental “lectures” will be presented 

through the use of technology tools such as iPod audio and other on-line media. 

Homework will be administered through the textbook publisher’s Connect homework 

management system. 

Text: 

Required: “Taxation of Business Entities 2012 Edition,” Spilker, Brian, Ayers, Ben, et 

al., McGraw-Hill/Irwin Publishing Company, 2011. (Bundled with Connect) ISBN 

0077434137. 

To register with McGraw-Hill-use the following address: 

http://connect.mcgraw-hill.com/class/c_adams_acct_217-partnership__corp_tax 

Note: The textbook package includes everything you need for this class and is specially 

bundled for you by the publisher. It is only available through the Saddleback bookstore 

or on-line with the publisher. If you purchase the text from any other source, you will be 

responsible for any resource that is in this package. 

Exams/Grading Policy: 

Exams will consist of multiple choice questions, short answer questions, essays and short 

problems. There will be NO MAKE UP EXAMS given for any reason. If for an 

EMERGENCY reason you must miss an exam, the instructor must be notified BEFORE 

the scheduled exam or a grade of zero will be assigned. Late work will not be accepted. 

Your grade will be determined on the basis of the number of cumulative points scored on 

quizzes, exams, projects, and class participation. The points will be weighted as follows: 

Exam (4@ 100pts) 

Homework 

Project and or quizzes 

400 points 

240 points 

60 points 

Note: Homework will be administered via Connect (see below). There is no extra 

credit. 

--------------- 

TOTAL 700 POINTS 

Grades are determined as follows: 

Grade Index: Points % Letter Grade 

(630-700) 90-100 A 

(560-629) 80- 89 B 

(490-559) 70- 79 C 

(420-489) 60- 69 D 

(0 - 419) below 60 F 

- 2 -

Access to Blackboard (Saddleback’s Online Portal) 

Go online to http://socccd.blackboard.com, click on “Logon.” Complete instructions are 

available to the left of the “Username” and “Password” boxes. If, after following the 

instructions, you are unable to access BLACKBOARD, please advise me and I will 

advise you whom you may e-mail for assistance. Include your name, student ID, your 

four-digit PIN and your Course ID. 

Access to Connect 

Homework, quizzes, and exams are administered through Connect. You may access the 

application either through Blackboard/External Links or directly through the URL 

provided to you by the instructor. (http://connect.mcgrawhill.com/class/c_adams_acct_217-partnership__corp_tax) 

You must register as a student 

with the access code provided to you in the text package (see TEXT above). Work 

MUST be submitted into Connect only and will not be accepted in any other form. 

To create a student account, follow these directions: 

1. Click on the “Register for this class” link on the student menu found on your 

course homepage. 

2. Enter the 20 digit code in the boxes on the Student Registration page, and click 

the next button (note: the code is case-sensitive; please enter the code in upper 

case letters). 

3. Fill out the registration form that appears and click the “OK” button. 

4. Click the “YES” button to confirm your account. 

Connect Tips 

 

 

 

 

 

You can only do one thing at a time. You cannot view past results while you are 

in the process of taking an assignment. You cannot take two graded assignments 

at the same time. 

When trying to print an assignment use the browser’s Print Preview and Page 

Setup options to get the best output possible. You should switch from portrait to 

landscape, and should extend the margins as far as possible. 

Use the “Next,” “Back,” “Jump to,” and “Save my Work” buttons periodically to 

save and avoid timing out. If there is no activity within 60 minutes, Homework 

Manager will automatically log out your session. 

Click “Quit and Save” if you wish to work on your assignment at a later time 

without grading. Remember, you can only work on one open, un-graded 

assignment at a time. 

Don’t copy and paste, this might enter illegal characters in your homework and 

prevent you from getting a grade. 

- 3 -

McGraw-Hill Faculty and student tech support: 

Telephone Tech support: 1-800-331-5094 

Email tech support: www.mhhe.com/support 

Normal Hours (Pacific Standard Time), open 76 hours per week: 

Sunday: 

4 p.m. – 9 p.m. 

Monday – Thursday: 6 a.m. – 9 p.m. 

Friday: 

6 a.m. – 4 p.m. 

Note: Technical Support for Homework Manager, eBook, and other course content 

should be addressed with McGraw-Hill Technical Support. 

CHEATING 

THE FIELD OF ACCOUNTING REQUIRES A HIGH DEGREE OF ETHICAL 

RESPONSIBILITY IN ORDER TO INSTILL A LEVEL OF CONFIDENCE IN THE 

QUALITY OF THE INFORMATION PRODUCED. AN ACADEMIC 

ENVIRONMENT IS NO DIFFERENT. CHEATING OF ANY KIND ON ANY 

PROJECT OR TEST WILL NOT BE TOLERATED IN THIS CLASS. A STUDENT 

WHO IS SUSPECTED OF CHEATING WILL BE SUBJECT TO THE APPROPRIATE 

PROCEDURES DESCRIBED IN THE SADDLEBACK COLLEGE STUDENT CODE 

OF CONDUCT. 

THESE PROCEDURES PROVIDE GUIDANCE REGARDING CHEATING OR 

PLAGIARISM AND MAY RESULT IN AN ASSIGNED GRADE OF "F" FOR THE 

COURSE. THE PROCEDURES PROVIDE THE INSTRUCTOR WITH 

THE RIGHT TO ADJUST INDIVIDUAL GRADES DUE TO CIRCUMSTANCES 

THAT MAY AFFECT A PARTICULAR STUDENT DURING THE SEMESTER. IN 

SHORT -- DON'T CHEAT. IT GIVES ONE A NEGATIVE REPUTATION AND 

DOES NOT ALLOW YOU TO BUILD THE CONFIDENCE THAT YOU NEED TO 

SUCCEED IN THE REAL WORLD. CHEATING IS DEFINED AS TURNING IN 

WORK AS ONE'S OWN WHICH IS ACTUALLY THE WORK OF SOMEONE ELSE. 

THIS APPLIES TO ALL WORK IN THIS CLASS, INCLUDING TEST ANSWERS. 

"PEEKING" AT ONE'S NOTES DURING AN EXAM WILL ALSO NOT BE 

TOLERATED. "QUESTIONING" OTHER STUDENTS IN MY CLASS AS TO 

"WHAT THE EXAM COVERED" WILL ALSO CONSTITUTE CHEATING. ANY 

INSTANCES OF THIS TYPE WILL BE PUNISHED BY THE ASSIGNMENT OF AN 

AUTOMATIC "F." IT WILL BE DISALLOWED IN MY CLASS - PERIOD. 

WITHDRAWALS DURING THE TERM 

See Saddleback College web site at www.saddleback.edu 

Do not assume that the instructor will automatically drop you from the course. If you 

feel you must drop, take the initiative and do it yourself. 

- 4 -

Course Policies, Procedures and Assignments 

The instructor assumes you have the requisite computer skills to successfully 

complete this course. This includes (at least) proficiency with Microsoft Office 

and access to the Internet. 

 

 

 

 

 

 

 

Each chapter will have a series of exercises and problem, which will be performed 

through Connect. Exercises are worth 20 points per chapter. 

There will be four exams administered throughout the semester. 

There will be an additional 60 points that will consist of a project (or projects) and 

or in class quizzes. 

Since you are being provided with due dates well in advance, there will be no 

extensions for due dates for Connect. Reasons such as “Blackboard or Connect 

was down” will not be accepted. 

You are expected to read the chapter materials, review the author’s support 

materials, complete assigned homework, quizzes, and exams prior to the assigned 

due date. You are responsible for any material provided by the textbook publisher 

in the textbook and/or their online learning web site. 

ALL cell phones, pagers, palm pilots, iPods, and other wireless devices must be 

OFF during class and during exams. 

Tape recorders, calculators and laptop computers are permitted in class. You are 

highly recommended to bring a calculator for exams. Cell phones and PDAs are 

NOT allowed for exams. If you have any questions, please ask the instructor 

before the exam. 

This course will cover the entire textbook except chapters 12 and 13. 

 

 

Every student is required to attend all class sessions and complete all assignments. 

There will be no make-up lectures on an individual basis. Poor attendance will be 

sufficient grounds for being DROPPED from the course; however, do not assume 

that the instructor will drop you from the course. Once the semester reaches the 

drop deadline, you will receive a grade. 

You are expected to read the chapter materials prior to class lecture. The author’s 

PowerPoint presentations are used as a lecture outline but we will discuss much 

more than what is on the file. You are responsible for any material presented in 

the textbook, resource material, or class discussion. 

- 5 -

ACCOUNTING 217 

PARTNERSHIP AND CORPORATE TAXATION (FALL 2012) 

Note: Dates are approximates and are subject to change; Exam dates are approximate 

and will be officially announced in class. 

Administration of each week’s chapter multiple-choice questions will be through 

Connect. You must register online with Connect. 

Connect is an interactive, Internet-based product designed to help you complete all 

exercises and problems. You will receive instant feedback and the ability to correct any 

errors. All work must be fully completed and turned in by its due date. You are 

responsible for the due dates listed in Connect or as provided in class. 

Calendar: 

Week 

Week 

Beginning 

Chapter 

Assignment 

1. 8/23 Over-view and Introduction 

2. 8/30 Chapter 1 – Business Income, 

Deductions, and Accounting 

Methods 

3. 9/6 Chapter 2 – Property Acquisition 

and Cost Recovery 

Connect problems Ch 1-due @ 

midnight on 9/7 

Connect problems Ch 2 due @ 


4. 9/13 Chapter 3 – Property Dispositions Connect probems Ch 3 due @ 


5. 9/20 Chapters 4 – Entities Overview 

(included on Exam 2) & review for 



exam 1 

6. 9/27 Exam 1 (Chapters 1–3) 


Chapter 5 – Corporate Operations 

7. 10/4 Chapter 6 – Accounting for Income 

Taxes 

(Review for Exam 2-Ch 4,5,6) 

8. 10/11 Exam 2 (Chapters 4-6) 

Begin Chapter 7-Corporate 

Taxation: Nonliquidating 

Distributions 

9. 10/18 Finish Chapter 7 & begin Chapter 8 

– Corporate Taxation: Formation, 

Reorganization, and Liquidation 








- 6 -

Week 

Week 

Beginning 

Chapter 

Assignment 

10. 10/25 Finsh Chapter 8 – Corporate 

Taxation: Formation, 

Reorganization, and Liquidation 

Begin Ch 9-Forming and Operating 

Partnerships 

11. 11/1 Finish Chap. 9 Forming and 

Operating Partnerships 

Review for Exam 3 (Ch 7, 8, 9) 

12. 11/8 Exam 3 (Ch 7, 8, 9) 

Begin Chapter 10 – Dispositions of 

Partnership Interests and 

Partnership Distributions 

13. 11/15 Finish Ch 10 & Begin Chapter 11 – 

14. 11/22 

(Thanksgiving 

Week) 

S Corporations 

No Class 

15. 11/29 Finish Chapter 11 – S Corporations 

Begin Chapter 14 Transfer Taxes 

and Wealth Planning 

16. 12/6 Chapter 14 Transfer Taxes and 

Wealth Planning & review for 

exam 

17. 12/13 Exam 4 (Chapters 10, 11, 14) 



No additional homework see above 







No additional homework see above 

- 7 -

Partnership and Corporate Taxation (Acct 217) - Saddleback College

Create successful ePaper yourself

Delete template?

Save as template?