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A tornado damage a crane and a dump truck at one of its construction sites. The crane was acquired 2009 for $120,000. and has an adjusted basis of $39,650. The dump truck was acquired in 2007 for $70,000. and has basis of $39,650. The dump truck was acquired basis of $33,880. The insurance company reimburses Harlow $35,000. for the crane and $42,000. for the dump truck. The company decides not to replace the dump truck and uses the insurance proceeds to purchase a new crane for $110,000.0.
Assume that COGS is a variable cost and that operating expenses are a fixed cost. What is budgeted operating income for 20X9?
What is the difference between a static planning budget versus a flexible budget? What are some of the possibilities that actual results may differ from what has been budgeted at the beginning of a period?
Finney Company began the year by issuing $20,000 of common stock for cash. The company recorded revenues of $185,000, expenses of $160,000, and paid dividends of $10,000. What was Finney's net income for the year?
walden company leases manufacturing equipment from preston rentals co. on january 1 2012. the following data pertain to
What are the differences between substantive tests of transactions and tests of details of balances?
What are some journal entries that must be made at year-end to convert financial statements from accrual to cash basis?
you are currently thinking about investing in a stock valued at 25.00 per share. the stock recently paid a dividend of
vista corporation which has current earnings and profits ceampp of 10000 and accumulated earnings and profits aeampp of
A company grosses $100 million per year and shows a 12 percent profit. It hires a security director, a security staff, and security equipment, which costs the company $2 million per year but reduces its losses, or "shrinkage," from 9 percent to 5 ..
A mutual fund portfolio manager's performance is evaluated by comparing the short-term and long-term returns to specific benchmarks.
Prepare a short memo from giving your recommendations as to the proper reporting of the earthquake damage costs in the income statement for the year ending august 4, 1990.
The Piedmont School of Music has hired you as a consultant to help in analyzing the behavior of the school's costs.
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