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On February 2, 2011, Alexandra purchases a personal computer for her home. The computer cost $3,000. Alexandra uses computer 80% of the time in her accounting business, 10% of the time for managing her investments , and the remaining 10% of the time for various personal uses.
Calculate Alexandra's maximum depreciation deduction for 2011 for the computer, assuming she doesn't make the election to expense or take bonus depreciation.
Strong Wood Company is a distributor of patio furniture. Data concerning the next month's budget appear below. What is the company's margin of safety? What is the company's margin of safety as a percentage of sales?
Norman traveled to San Francisco for four days on vacation, and while there spent another two days conducting business for his employer. Norman's plane fare for the trip was $500; meals cost $150 per day; hotels cost $300 per day
Antawn expects to sell 42,000 units of finished goods this period-How many units must he budget for production this period
Alex owns an office building which the state condemns on January 15, 2010. Alex receives the condemnation award on April 1, 2010. In order to qualify for nonrecognition of gain on this involuntary conversion,
Prepare a schedule of cash collections for January, February, and March and for the quarter in total, Prepare a production budget for January, February, and March and for the quarter in total.
Sydney Corporation, an Australian-based multinational, borrowed 10,000,000 euros from a German lender at the beginning of calendar year when exchange rate was EUR.60 = AUD1.
Green Lawn Chemical company sells lawn and garden chemicals through several hundred garden suppy stores and department store garden shops. Assume Green Lawn shipped goods costing Green Lawn $8400 and with a wholesale price (i.e. price to the retai..
Phillips Company bought 40 percent ownership in Jones Bag Company on January 1, 20X1, at underlying book value. In 20X1, 20X2, and 20X3, Jones Bag reported net income of $8,000, $12,000, and $20,000
In the current year, David and Debbie Wayland, both successful physicians, made cash investment for a limited partnership interest in a California berry farm. In addition to the cash obtained from the investors-Identify the tax issues facing the W..
Sheppard industries evaluating a proposal expand current distribution facilities. Management projected produce cash flows years (in millions)
How could the foreign competitors profitably sell a similar product for less than manufacturing costs to Houston Electronic?
Find out a franchisee's breakeven sales in dollars. Is franchising good idea for Wong if franchisees want a minimum monthly operating income of $6,000 and Wong believes that most locations could generate $26,000 in monthly sales?
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