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On November 4, 2008, Ezra purchased 2,000 shares of DDD stock for $12,000. On June 12, 2009, Ezra sold the 2,000 shares for $9,000. On June 30, 2009, he purchased 1,000 shares of DDD stock for $5,000. What is Ezra's realized gain or loss and his recognized gain or loss on the June 12, 2009 sale? What is his basis in the stock from the June 30 purchase?
As a senior manager of your information technology group, discuss how you would demonstrate, by example, the importance of security and then propose a method for creating a "security aware" culture. Provide specific examples to support your respon..
It was estimated that $400,000 would be collected during the next 60 days of 2008 and that $240,000 would be collected after that. The City has a policy of recognizing the full amount possible for property taxes. Which of the following statements ..
Kentucky Enterprises purchased a machine on January 2, 2010, at a cost of $120,000. An additional $50,000 was spent for installation, but this amount was charged erroneously to repairs expense. The machine has a useful life of five years and a sal..
Becker Corporation paid cash dividends totaling $75,000 during its most recent fiscal year. How should this information be reported on Becker's statement of cash flows?
Alpha acquired 100% of Beta's common stock for $400,000. On this date the Fair Market Value of some of Beta's assets and liabilities were: Prepare a consolidation workpaper at the date of acquisition based upon the following book values at the date:
If ABC Service collects $50,000 from customers on account: a) total assets are unchanged b) liabilities increases c) owners equity decreases d) onwers equity increases
Compute the cost to retail percentage used by New York Sales Inc.
A salesperson from a different computer company claims that his machine, which costs $85,000 and has an estimated service life of four years, will generate annual savings for the city of $32,000.
Mary has a three-stock portfolio and is interested in estimating its overall return next year. She has $25,000 invested in Orange Corp-Calculate the portfolio beta and then apply the SML.
Condensed balance sheets for Phillips Company and Solina Company on January 1, 2007, are as follows: Prepare the journal entries on the books of Phillips to record the acquisition of Solina Company's net assets
Explain briefly the difference between those two methods of applying an accounting change. First give a definition of the two types of applications and then answering this question: If I were going to switch depreciation methods from straight line ..
Mary, a U.S. citizen owned 25% of the stock of Floran Corporation, an electing S corporation. At the time of her death, the Floran stock may go to all the following without affecting the S election except
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