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A business machine purchased April 10, 2008, for $86,000 was fully depreciated in 2008 using § 179 immediate expensing. On August 15, 2009, the sole proprietor who owned the machine died. On that date the machine's value was $57,000. It was inherited by an individual who did not use the machine in business and was sold on November 22, 2009, for $53,000.
Discuss the amount and nature of the gain or loss from disposition of the machine?
Cash of $2,000 had been set aside for the plant expansion. How much of retained earnings is available for dividends?
The company's ending inventory on December 31, 2010, is estimated at 94,500 units. Develop a quarterly production budget for 2011 and for the year in total.
Pardee Company earned $25,000 of cash revenue. What kind of transaction is this?
What is Teresa's basis in the stock after distribution? What is her remaining "outside" basis in HT?
agency funds report assets and liabilities, but not net assets, revenues, or expenses. Briefly explain why this is so. For example, why would an agency fund not have revenue? Why would it not have expenses?
30-day T-bills are currently yielding 8 percent. Current interest rate premiums: Inflation premium: 5% Liquidity premium: 1% Maturity risk premium: 2%: Default risk premium: 2% Calculate the real risk-free rate of return.
Buckman Corporation issued bonds with a face value of $800,000 on April 1, 2008. The bonds pay interest semi-annually at a coupon rate of 10% per year and the due date of the bonds is April 1, 2014. The market rate is 8% per year.
How are equivalent units of production, unit costs, and inventory values determined using the standard costing method of process costing?
Present the income division section of the income statement for the current year. Assuming that the net income had been $50,000 instead of $100,000, present the income division section of the income statement for the current year.
Prepare a sales budget with columns for each region and for the company in total for the month of June.
Frantic Fast Foods had earnings after taxes of 390000.00 in year 2009 with 300000.00 shares outstanding. On January 1, 2010 the firm issued 25000 new shares. Because of the proceeds from these new shares and other operating improvements, earnings ..
Recently, a group of university students decided to incorporate for the purposes of selling a process to recycle the waste product from manufacturing cheese.
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