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The replacement of a machine immediately prior to the close of the current fiscal year at a cost 20% above the original cost of the replaced machine. The new machine will perform the same function as the old machine that was sold for its book value.
A special order to purchase 10,000 units was recently received. Kandeed has enough capacity to fill the order, and filling the order would not disrupt current production or sales of K.
If an officer is not actually paid his salary but the salary is shown as accrued for 2010, for a C Corp, is the total accrued amount for that officer included on Schedule E or only what the officer is actually paid in 2010?
Caltron Computers, Inc. is a publicly held company with a total market capitalization in excess of $450 million. Caltron manufactures minicomputer systems that are designed to achieve the power of a mainframe at a fraction of the cost. The minicomput..
On January 1, 2010, the board of directors of Goby Inc. declared a $540,000 dividend. The following data are from the balance sheet of Goby on that date:How much is the liquidating dividend
The gross earnings of the factory workers for Vargas Company during the month of January are $66,000. The employer's payroll taxes for the factory payroll are $8,000.
The best investor of all time, Warren Buffet, talks about investing in "capital efficient" businesses. Coca Cola falls into this category since it generates great sums of cash with minimal investment in capital.
Checkers also sold 2,150 units during the month. Using the average cost method, what is the amount of cost of goods sold for the month? A. $27,843. B. $28,950. C. $26,975. D. $27,950.
General government revenues for the year were $800,000 with an overall increase in the city's net assets of $150,000.
At the beginning of 2008, a decision was made to change to the straight-line method of depreciation for this equipment. Assuming a 30% tax rate, the cumulative effect of this accounting change on beginning retained earnings, net of tax, is
The minimum lease payments were determined to have a present value of $208,493 at an effective interest rate of 10%. In 2009, Dalton should record interest expense of
Puckett Co. has office furniture that cost $75,000 and that has been depreciated $50,000. Record the disposal under the following assumptions.
Determination of Beneficiary's Income. A trust is authorized to make discretionary distributions of income and principal to its two beneficiaries, Roy and Sandy.
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