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Digger Corporation has $50,000 of current and accumulated E&P. On March 1, Digger distributes land with a $30,000 FMV and a $17,500 adjusted basis to Dave, its sole shareholder. The land is subject to a $5,000 liability which Dave assumes:
a. What is the amount and character of the distribution?
b. What is Dave's basis in the property?
c. When does his holding period for the property begin?
Suppose you are studying two hardware lease proposals. Option 1 costs $4,000,but requires that the entire amount be paid in advance.
Suppose the product manager of a new Flower Mills cereal has determined that the appropriate wholesale price for a carton of the new cereal is $48. The fixed costs for the production and marketing of the new product are $15million.
Compare and contrast the USA and Australian audit committee requirements for independence and financial expertise?
Evaluate the various accounting treatments for stock compensation and how do they relate to the practice of accounting and its uses in business.
The partnership paid $3000 in interest that was amount owed for the year and paid $8000 for a two-year insurance policy on the first day of business.
Manufacturing overhead is allocated to products based on the number of machine hours required. In a year when 20,000 machine hours were anticipated, costs were budgeted at $125,000.
As stipulated, your company is having financial difficulty and has asked the bank to restructure its $3 million note outstanding. The present note has 3 years remaining and pays a current interest rate of 10%.
Why does a corporation buy back its own stock? What do you think this tells you about the corporation?
What are the five basic principles of cash management that a company can follow in order to improve its chances of having adequate cash?
What is a complete liquidation? A partial liquidation? Explain the difference in tax treatment accorded these two different events. Also, provide specific examples.
Discuss what these traditional financial statements do well as well as the limitations of these financial statements for valuing information/knowledge age companies.
China Corp. has a current capital structure of $18 million in secured bonds paying 6.5% annual interest, $8 million in preferred stock with a par value of $50 per share and an annual dividend of $3.80 per share
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