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A land held for investment with the fair market value of $100,000 sold for $36,000 cash and a note for $64,000 due in two years. The note bores the interest of 11% while the applicable Federal rate is 7%. The land cost $40000. because the buyer has good credit and high interest rate on the note, the seller thinks the note's fiar market value will be $74,000. How much the gain seller can recognize?
Which principle states that assets acquired by the business should be recorded at their actual price and company performed services for a customer on account
Market analysis indicates that their product would probably sell at $48 per unit. Flyer management desires a 12.5% profit margin on sales. Their current full cost per unit for the product is $44 per unit.
What risk calculation technique is illustrated by your example? Would you have employed a different risk assessment technique than used in your example, and why?
Decision analysis based on carrying and ordering cost - Which of the ordering costs would Carolina's controller take into account in performing short-run decision analysis?
In 2012, Johnson Corp. reported $8,000 of ordinary business income. How much of the $25,000 ordinary loss allocated to Parker clears the tax basis hurdle for destructibility in 2011?
Equipment acquired on January 3, 2005, at a cost of $147,500, has an estimated useful life of eight years and an estimated residual value of $17,500. What was annual amount of depreciation for the years 2005, 2006, and 2007, using the straight-li..
During Year 2, Teny had no earnings and profi ts, paid no foreign income taxes, and distributed a $12 million dividend. Assuming the U.S. corporate tax rate is 35%, illustrate what are the U.S. tax consequences of Teny’s Year 1 and Year 2 activitie..
Do the same computation as in a assuming net income for the year is only $3 million, the average market value per common share is $18, and year end price $20 per share.
How much retained earnings do the firm have and find How much long-term debt does the firm have
Included in income for the period was an extraordinary loss from flood damage of $50000 before deducting the related tax effect. The company's income before income taxes and extraordinary items was?
Discuss the accounting this company uses to allocate the cost of that asset to the periods benefited from its use. 150-250 words.
Assume that in the authority’s second year of operations, it incurs the same costs, except that it purchases no new equipment. What amount of tax revenue is it required to collect?
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