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The Adams Independent School District wants to sell a parcel of unimproved land that it does not need. Its three best offers are as follows: from State Department of Public Safety (DPS), 2.3 million; from Second Baptist Church, 2.2 million; and from Baker Motors, 2.1 million. DPS would use the property for a new state highway patrol barracks; Second Baptist would start a church school; and Baker would open a car dealership. If you are the financial adviser for the school district, which offer would you prefer? Why?
the standard cost of product X includes 2 units of direct materials @ $6/unit. During october, the company bough 29,000 units of materials @ $6.20/unit and used those materials to produce 15,000 units. what is the total material variance? what is ..
Glitter Girl, Inc. recognized net income of $150,000 including $26,000 in depreciation expense.
During the past year, a company completed the following transactions related to the acquisition of property and the construction thereon of a new factory:
The Connecting company uses the percent of sales method of accounting for uncollectible accounts receivable. During the current year, the following transaction occurred:
In determining the initial accounting for leases for both the lessee and the lessor?
Gold Company was experience financial difficulties, but was not bankrupt or insolvent. The National Bank which held a mortgage on other real estate owned by Gold, reduced the principal from $110,000 to $85,000.
Tax rules are often very precise. For instance, a taxpayer must ordinarily provide "over 50%" of another person's support in order to claim a dependency exemption. Why is the threshold "over 50%" as opposed to "50% or more"? Explain in detail.
What are 4 examples of international Risks and Benefits.
Freddie purposely omitted $100,000 of cash receipts that should have been reported as gross income. Freddie charged Peggy $6,000 to prepare the return. What is Freddie's preparer penalty?
The main reason to prepare a differnetial analysis report is to: a. Decide between two options b. See if there has been a difference in net income over a period of time such as 5-10 years'
TMC issued $50 million of its 12% bonds on April 1, 2011, at 98 plus accrued interest. The bonds are dated January 1, 2011, and mature on December 31, 2030. Interest is payable semiannually on June 30 and December 31. What amount did TMC receive f..
Jerry transfers two assets to a corporation as part of a Sec. 351 exchange. The first asset has an adjusted basis of $70,000 and a FMV of $50,000. The second asset has an adjusted basis of $70,000 and a FMV of $150,000. The FMV of the stock receiv..
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