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D invested $100,000 in an equipment leasing LLC. He was to be allocated all of the depreciation for the first five years and 40% of the net income before depreciation. The venture borrowed $400,000, non-recourse debt? D’s depreciation for the first year was $200,000 and his share of the net income before depreciation was $60,000.
1. What problems will D encounter in deducting his net loss from the LLC for the first year?
2. Same as a., except the LLC leases real estate, rather than equipment.
Services for the initial fee will be performed in 2011. What amount of net unearned franchise fees would Potter report at December 31, 2010?
Prepare a statement of cash flows for Incloud Airlines for the year.- Discuss briefly the pattern of cask flows from operating, investing, and financing activities for Incloud Airlines for the year.
In 1997, Ward and June, husband and wife, bought 160 acres of land as Joint Tenants With Right of Survivorship, for $200,000. Ward died in the current year. On the date of his death, the land was worth $300,000. The personal representative of Ward's ..
The balances of Sentinel Travel Service’s accounting equation items for the year ended August 31, 2016, are listed below. Barb Schroeder invested an additional $36,000 in the business in exchange for common stock, and $18,000 of dividends were paid d..
Prepare a monthly manufacturing overhead flexible budget for each increment of 3,000 direct labor hours over the relevant range for the year ending December 31, 2014.
calculation of accounts receivable.the pitney companys sales are 40 cash and 60 credit.nbsp 50 of credit sales are
Determine the amount of operating cash flows the company will report as received from customers in the current year
Van Doren Corporation is considering producing a new product, Autodial marketing data indicate that the company will be able to sell 45,000 units per year at $30. Compute the net present value.
Shortly thereafter, Brenda sells 10 shares to Aquarius for $200.00 in an exchange that had been agreed to in the preceding year. What result to both Ann and Brenda? What if Brenda sold 11 shares versus 10 shares?
Alam Company is a manufacturing firm that uses job-order costing. At the beginning of the year, the company's inventory balances were as follows: Prepare the appropriate journal entry for each of the items above (a. through j.). You can assume that a..
What is the company's break-even point in units if it purchases the new equipment, assuming the selling price remains constant?
Kinder Enterprises relies heavily on a copier machine to process its paperwork. Recently the copy clerk has not been able to process all the necessary copies within the regular work week. Management is considering updating the copier machine with a f..
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