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Robin Corporation has ordinary income from operations of $30,000, net long-term capital gain of $10,000, and net short-term capital loss of $15,000. What is the taxable income for 2007?
On October 15, the corporation's board of directors declared a cash dividend of $0.50 per share payable on November 15 to stockholders of record on November 1. What is the amount of dividends declared?
The heating division of ITA International produces a heating element that it sells to its customers for $42 per unit. Its variable cost per unit is $19, and its fixed cost per unit is $10. What is the minimum transfer price that the heating divisio..
Tan Company acquires a new machine (ten-year property) on January 15, 2011, at a cost of $200,000. Tan also acquires another new machine (seven-year property) on November 5, 2011, at a cost of $40,000.
Explain the product and the production process. Describe how you would find out the quantity of spoiled units that are normal versus abnormal. Explain how you would determine the cost of good units, normal spoilage and abnormal spoilage.
The marketing manager has recommended that the selling price be increased by 20%, with an expected decrease of only 10% in unit sales. What would be the company's net operating income if the marketing manager's recommendation is adopted?
Cash dividends paid by a corporation: a. reduces the net income of the corporation that declared the dividend. b. reduces the retained earnings of the corporation that declared the dividend.
Cash flows used for investments in property, plant, and equipment totaled $45,000, of which 60% of this investment was used to replace existing capacity. Determine the free cash flow for Mediterranean Tile Company.
The used truck had a fair value of $6,000 on the date of the exchange. The exchange has commercial substance. At what amount should the new truck be recorded on Part's books?
Suppose that at the end of 2010, the Lancer Boutique used $1.5 million cash to pay off $1.5 million of accounts payable. Compute the new current ratio?
Discuss the conflict between the need for personal pravacy and confidentiality in banking transactions and the need for government to curtail money laundering activities
Which of the following would not indicate possible asset impairment?
Which of the following statements is correct concerning changes from year 1 to year 2 at Tripe Corp?
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