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Judy, a cash basis taxpayer, leases office buildings to commercial tenants. During 2015, she receive $10,000 from various tenants a refundable damage deposits, $300,000 for 2015 rents, and $50,000 for 2016 rents. How much should Judy include in 2015 gross income?
a. $300000
b. $310000
c. $350000
d. $360000
the devon motor company produces motorcycles. during aprilthe company purchased 8000 batteries at a cost of 10 per
heywood diagnostic enterprises is evaluating a project with the following net cash flows and probabilities year prob0.2
The maximum depreciation
1. MLB®. Major League Baseball (MLB) requires that a ball used in a major league game weigh between 5 and 5.25 oz. (www.MLB.com). Rawlings® is the official supplier of baseballs for MLB. In their production process, do they treat 5 and 5.25 oz. as..
1. You acquire the outstanding loan (note) of Shepard Company, who is having financial difficulty. Because of the financial difficulty, Shepard Company's credit rating has been downgraded and you acquire the note at a discount.
Guillermo Navalles, owner of Guillermo Furniture faces a decision that could make or break the success or failure of his business. Because of increased competition and costs, profits for the Mexican company have taken a hit.
on january 1 2010 guzman company purchased a machine costing 150000. the machine is in the macrs 5-year recovery class
the gilster company a machine tooling firm has several plants. one plant located in st. falls minnesota uses a job
vest corporation sells and issues 100 shares of its 10 par value common stock as 11 per share. show how this
What are the arithmetic and geometric average returns for a stock with annual returns of 22 percent, 9 percent, -7 percent, and 13 percent? List the arithmetic answer first.
Why do generally accepted accounting principles require the use of lower of cost or market in valuing inventory? What are the three different inventory cost flow assumptions commonly used in commerce today and allowed by generally accepted accoun..
To what extent might companies use of these different treatments reduce the comparability of the resulting financial statements?
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