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In 2010, Jack's Art Gallery sold 200 original works of art for $1,240,520. The gallery acquired the works sold for $530,000. Each painting was framed using predesigned framing kits in the gallery's own workshop. The firm bought 100 kits in January for $50,000, 100 kits in March for $60,000.,100 kits in May for $40,000 and 100 kits in August for $30,000. Other costs of operation, including salaries, supplies, rent, etc., totaled $200,000. The company depreciated its assets by $120,000 and paid interest on loans totaling $55,000. Assuming no other costs and that Jack's Art Gallery used FIFO in its inventory management, the firm's EBITDA for 2010 was?
She receives real estate with a fair market value of $72,000 and Todd assumes the mortgage. What is her recognized gain and adjusted basis for the real estate received?
mccombs contractors received a contract to construct a mental health facility for 2500000. construction was begun in
statements of retained earning in its most recent financial statements newhouse inc. reported 50 million of net income
national novelties has experienced a number of out-of-stock situations with respect to its finished-goods inventories.
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california surplus inc. qualifies to use the installment-sales method for tax purposes and sold an investment on an
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Don pays Cardinal Construction Corporation $2.8 million to do the work. Don also pays an architect $400,000 to draw up plans for the project. Because the rewiring requirements are so extensive, Cardinal pays Dove Electric Company $500,000 to handl..
Milton Manufacturing Company
What amount of interest revenue will Big report for 2010 and what amount of cash will Big receive upon maturity of the note?
on april 1 2011 warm universe issued 8 bonds dated april 1 2011 with a face amount of 10000000. the bonds mature in
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