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On January 5, 2010, Jane purchased a bond paying interest at 6% for $30,000. On September 30, 2010, she gave the bond to Tim. The bond pays $1,800 interest on December 31. Jane and Tim are cash basis taxpayers. When Tim collects the interest in December 2010:
a) Jane must include all of the interest in her gross income.
b) Tim must include all of the interest in his gross income.
c) Jane reports $450 of interest income in 2010, and Tim reports $1,350 of interest income in 2010.
d) Jane reports $1,350 of interest income in 2010, and Tim reports $450 of interest income in 2010.
e) None of the above is correct.
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On January 1, 2010, the balance in Kubera co.'s Allowance for Bad Debts account was$9720. during the year, a total of $23900 of delinquent account receivable was written off as bad debts, the balance in the allowance for bad debts account at Decem..
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compute the inventorial costs for the year.
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The board of directors declared and paid a $3,000 dividend in 2009. In 2010, $15,000 of dividends are declared and paid. What are the dividends received by the preferred and common shareholders in 2010?
She also expected additional case expenses amounting to $3,000 per years. The cost of capital is 12%. Assume there are no income taxes.
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