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On October 29, 2013, Miss Joan Seely (SSN 123-45-6789) sells her principal residence for $150,000 cash. she purchased the residence on May 12, 2004, for $85,000. She spent $12,000 for captital improvements in 2004. To help sell the house, she pays $300 for minor repairs. The Realtor's commission amounts for $7,500. Her old residence is never rented out or used for business. Complete the worksheet on page 12-24 for Miss Seely for 2013.
the seller normally pays for shipping. Begin with the $34,500 inventory amount and compute the correct amount for the ending inventory. Explain the basis for your treatment of each of the preceding items.
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Candid, Inc., is a manufacturer of digital cameras. It has two departments: assembly and testing. In January 2014, the company incurred $800,000 on direct materials and $805,000 on conversion costs, for a total manufacturing cost of $1,605,000. What ..
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