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"Christine is employed full time as an accountant for a national hardware chain. She also has a private consulting practice, which provides tax advice and financial planning to the general public. For this purpose, she maintains an office in her home. Expenses relating to her home are as follows: real property taxes $3,900 interest on home mortgage 4,000 operating expenses of home 1,100 depreciation allocated to 20% business use 1,600 Christine's income from consulting is 16,000, and the related expenses are $5,000.
A. What is Christine's office in the home deduction?
B. Suppose that Christine also spent $3,000 to repaint and replace the carpet in the office. How do these additional cost change the answer to part (a)?
C. Suppose that Christine's income from consulting is only $8,000 (not $16,000). How does this change the answer to part (a)?
Jason Company determined that the budgeted cost of producing a product is $1.20 per unit. On June 1, there were 11,000 units on hand.
Creating a perception of detection can act as a deterrent to fraud. What are some ways companies attempt to create such a perception?
discuss ways in which the company you researched could best use job costing information to design and implement a job costing system
On January 1, 2010, Kentwood Company issued bonds with a face value of $800,000. The bonds carry a stated interest of 7% payable each January 1 and July 1. Prepare the journal entry for the issuance assuming the bonds are issued at 97.
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?
Prepare a correct trial balance. (If answer is zero, please enter 0, do not leave any fields blank.)
Choose a client or yourself. For confidentiality purposes, use a fictitious name.
Determine the cost recovery deduction for 2012 for these assets.
On November 28, 2010, she sold 48 shares, which could not be specifically identified, for $576 and on December 8, 2010, she sold another 25 shares of $188, What was her recognized gain or loss?
If operating lease commitments are considered equivalent to debt, what percentage of the American's debt is represented by the lease liabilities?
Kentucky Enterprises purchased a machine on January 2, 2010, at a cost of $120,000. An additional $50,000 was spent for installation, but this amount was charged erroneously to repairs expense. The machine has a useful life of five years and a sal..
A soft drink maker wants to expand into a neighboring country. They want the product bottled in that country to avoid political issues and to enhance the local image of the product.
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