Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Q. Bill and Ann bought a home in 1970 for $100,000. They put $20,000 down. The original $80,000 mortgage was refinanced for $200,000 on October 13, 1987 when the Fair Market Value of the home was $300,000. That refinanced mortgage of $200,000 has only 13 years left on its 30 year timeframe with a remaining balance outstanding of $100,000. They come to CNB today when the home is worth $1,200,000 looking to take cash out of $800,000.00. They are approved for the loan (6% interest) and you send them a check for the $800,000 with a total refinance of $900,000 (the first, $100,000, went to former loan pay off). They use the $800,000 proceeds to pay off $200,000 in credit card debt, $300,000 to buy that exotic Ferrari and $300,000 to buy a cigarette boat with no head, no galley and no sleeping quarters (but it is fast and burns a lot of fuel). Interest upon how much of the mortgage can they deduct for regular tax purposes and where is it deducted if it is deductible? Interest upon how much of the mortgage can they deduct for AMT tax purposes?
Prepare a pro forma balance sheet dated December 31, 2008 and show the financing changes suggested by the statement prepared in part A
Inc. earns $450,000 and pays cash dividends of $150,000 during 2013. Cox Corporation owns 70,000 of the 210,000 outstanding shares of Mission.
Evaluate the internal rate of return for each project
How much of Joe's bonus might the IRS re-characterize as a dividend Supposing the IRS re-characterizes $200,000 of Joe's bonus as a dividend, what additional income tax liability does Nittany Company face
If you paid 1,518,675 for the horse 4 years ago, Find what was your annual return over therefore 4 year period?
Which of the following is an example of a variable cost and Which one of the following statements best explains why companies want to distinguish between direct and indirect costs
Determine the average waiting time for cycles if they are the only item manufactured? and What are the average waiting times if both cycles and scooters are produced and the assembly line is not enlarged?
Prepare the suitable journal entry to record the year-end discount amortization on December 31, 20X7 and prepare the suitable journal entry to record the payment of the note on 31 st March, 20X8.
Which of the costs would be explained as an opportunity cost? Which is a sunk cost?
Newell Corporation debited Prepaid Insurance for $720 on July 1, 2000 for a 1 year fire insurance policy. If the corporation makes monthly financial statements,
Computation of Adjusted Cash Balance - which the company had erroneously recorded in the accounting records as $40. The "adjusted cash balance" at June 30 should be?
Identify the cash flows operating , financing , investing Non cash items - Impact of Transactions Involving Operating Assets on Statement of Cash Flows
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd