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On January 1, Father (Dave) loaned Daughter (Debra) $100000 to purchase a new car. There were no other loans outstanding between Dave and Debra. the relevant federal rate on interest was 6 percent. the loan was outstanding for the entire year.
a. if debra has 15000 of inveestment income, dave must recognize 6090 of imputed interest income.
b. dave must recognize 6090 of imputed interest income regardless of the amount of debra's investment income.
c. debra must recognize 6090 of imputed interest income.
d. debra must recognize 6090 of imputed interest income if dave has at least 6090 of investment income.
e. none of the above.
Assume the British pound appreciates against the dollar while the Japanese yen depreciates against the dollar. Which of the following is true?
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Recovery of working capital will be $10,000 at the end of its useful life. Annual cash savings from the purchase of the machine will be $20,000. a. Compute the net present value at a 12% required rate of return?
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While testing the inventory counts, the auditors noticed that several high dollar items had counts on the inventory listing which were materially higher than the actual counts. The difference between the actual and recorded inventory value was $66..
Prepare the appropriate entries for the declaration and distribution of the stock dividend.
Yale requires a modification of the design that will allow a $4 reduction in direct-material cost.
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