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Carin, a widow, elected to recieve the proceeds of a $100,000 life insurance policy on the life of her deceased husband in 10 installments of $15,000 each. Her husband had prepaid premiums of $75,000 on the policy. In the first year, Carin collected $15,000 from the insurance company. She must include in gross income:
A) $0
B) $5,000
C) $10,000
D) $15,000
E) None of the above
A hospital manager budgeted $100,000 for monthly nursing expenses in the hospital's well-baby clinic. The manager expected that the clinic would treat $5000 babies and pay its nurses $40 per hour.
What are the issues related to goodwill valuation when comparing partnerships formation with companies consolidations?
Prepare accounting report by Using the Peachtree Accounting Software
Karen Company had 105,000 shares of common stock outstanding on January 1, 2011. On August 30, 2011, Karen sold 50,000 shares of common stock for cash. Karen also had 11,000 shares of convertible preferred stock outstanding throughout 2011.
They had no unrecognized prior service cost, no unrecognized gains or losses, and no balance sheet accruals relating to pension assets or liabilties. The company uses a discount rate of 10% in determining the PBO and has an expected rate of return..
Record the following transactions of a company in a general journal form: Reacquired 8,000 of its own $10 par value common stock at $40 cash per share. The stock was originally issued at $15 per share.
Mathews Bus Service traded in a used bus for a new one. The original cost of the old bus was $52,000. Accumulated depreciation at the time of the trade-in amounted to $34,000. The new bus cost $65,000, but Mathews was given a trade-in allowance of..
What is the monthly debt service payment on Marco's loan if Enrique lends him $15,000 for four years at 8% interest?
Assume that the real risk-free rate, r, is 3 percent and that inflation is expected to be 8 percent in Year 1, 5 percent in Year 2 and 4 percent thereafter.
What are some nonfinancial performance measures? What do they tell us about the performance of an organization? Why is it important for managers to include nonfinancial performance standards in their analysis of their operations?
Compute Thorpe's working capital before and after issuing the note. Compute Thorpe's current ratio before and after issuing the note.
Work in Process consisted of two jobs, no. 101 ($20,400) and no. 103 ($14,800). During May, direct materials requisitioned from the storeroom amounted to $96,500, and direct labor incurred totaled $114,500.
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