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A company acquired an adjacent lot to construct a new warehouse, paying 30,000 and giving a short term note for 270,000. Legal fees paid 1,425, deliquent taxes were 12,000 and fees to remove the old building from the land were 18,500.Materials salveged were sold for 4,500. A contractor paid 910,000 to construct a new warehouse. Determine the cost of the land to report on the balance sheet. Show the answer step by step.
Lechter Co. is preparing to issue stock. Its revenues for last year were $85,000,000, and it had $52,000,000 in stock held by nonaffiliates.
If annual overhead costs are expected to be $750,000 and direct labor costs are expected to be $1,000,000, then:
As one of the year-end audit procedures, the auditor instructed the client's personnel to prepare a confirmation request for a bank account that had been closed during the year. After the client's treasurer has signed the request, it was mailed by..
What gain or income do Sara and Jane recognize on the exchanges? What is Wren corporation's basis in the property transferred by Sara and Jane? How does wren treat the value of the services Jane renders?
Crow Co. issued 493,000 of 10%, 20 yr. bonds on Jan, 1, 2010, at face value. Interest is payable annually on Jan. 1. Prepare journal entries to record the last of the following events:
Compute basic and diluted EPS for the year ended December 31, 2009.
for 2010, ford corporation reported net income of $15000, net sales $200000; and average share outstanding 6000. there were no preferred stock dividends. what was the 2010 earnings per share?
What is the amount of the payments that Ned Winslow must make at the end of each of 8 years to accumulate a fund of $90,000 by the end of the eight year, if the fund earns 8% interest, compounded annually?
Analyze the successes and problems of multinational enterprises (MNEs) in exploiting opportunities in emerging markets.
What are the components of measuring the economic damages from the loss of household services?
Ohio Corp. reported a deferred tax liability of $6,000,000 for the year ended December 31, 2012, when the tax rate was 40%. Income tax expense reported by Ohio on its year end December 31, 2013 income statement is:
Write down the difference between a contango market and a backwardation market. What exactly is meant by a basis?
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