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Case 1:
A lawyer withdraws his entire capital account from his law firm and uses the funds to finance the purchase of a home in which he resides. On the same day, the lawyer borrows an equivalent amount of funds by way of bank loan and deposits the funds to his law firm.
Issue: Is the interest expense on the bank loan deductible for tax purposes by the lawyer?
Case 2:
An accountant, whose entire practice consists of real estate agents and real estate developers, purchased, on the advice of a client, a parcel of raw land two years ago for $50,000. The accountant today accepted an offer to purchase the land from a third party for $125,000. The third party is going to use the parcel of land as part of a golf course development. Disposition costs will amount to $15,000.
Issue:1. What is the amount of the gain to be reported by the accountant for income tax purposes?2. Advise the accountant on the nature of taxation of his gain on the sale of the land for income tax purposes
At age 25 you spend $2,000 that earns 6 percent each year. At age 35 you invest $2,000 that earns 9 percent per year. In which case would you have more money at age 60?
Evaluate the Degree Operating Leverage and the Degree Financial Leverage for the last two years. Did your company increased or decreased the overall risk?
Company Z stock is trading at $30 per share given that the risk free interest rate is 9 percent and the equilibrium risk premium on the market portfolio is 8 percent.
PH Toy Corporation is unsure of whether to sell its product assembled or unassembled. The unit cost of the unassembled product is $30 and PH Toy would sell it for $65
Calamity Mining Corporation's iron ore reserves are being depleted, and its expenses of recovering a declining quantity of ore are rising each year. As a result, the corporation's earnings are declining at a rate of 10% per year.
Preferred stock of ABC corporation pays an yearly dividend at the rate of 4.5 percent per share. If ABC Corp's preferred shares are issued at $25 par value per share, & comparable yields are at 7.25 percent,
Calculation of cost of common stock shares and shares of common stock outstanding and it is presumed the Larsen Co
What tools or techniques would you use in examine business strategies, financial reporting & disclosure policies, financial performance, forecasts & fundamental values?
Compute the Cost of Common Stock for Benchmark Corporation given the following data, End of 1st year dividend is $20, the stock is selling for $27.
Barone's Repair Corporation was started on May 1st A summary of May transactions is presented below. make a tabular analysis of the transactions, using the following column headings: Supplies, Equipment, Accounts Payable,
The lottery is $60,000,000 and the state offers to pay you $3,000,000 per year for the next twenty years, or you can take the lump sum today of $29,500,000.
An organization that does not invest in its employees may be less attractive to prospective employees and may have a more difficult time retaining current employees"
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