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Pear Corporation is issuing $600,000 of 8%, 5-year bonds when potential bond investors want a return of 10%. Interest is payable semiannually. The present value of 1 factors are 4%, .67556 and 5%, .61391. The present value of an annuity factors are 4%, 8.1109 and 5%, 7.72173. Instructions Compute the market price (present value) of the bonds.
A company acquires a subsidiary and will prepare consolidated financial statements for exteral reporting purposes. For internal reporting purposes, the company has decided to apply the initial value method. Why might the company have made this dec..
What is the amount and initial character of the gain or loss from disposition of the real estate? Is any of the gain unrecaptured § 1250 (25%) gain?
Prepare the journal entries necessary to account for the Sonny investment, assuming that Fredo accounts for that investment as (1) an available-for-sale investment, and (2) elects the fair value option.
Olga, a cash basis taxpayer, sold a corporate bond with accrued interest of $300 for $10,000. Olga's cost of the bond was $10,000. What is her gross income for tax purposes?
On April 3, 2008, Mark filed his 2007 Income tax return, which showed a tax due of $80,000. On June 1, 2010, he filed an amended retrun for 2007 that showed an additional tax of $10,000. Mark paid the additional amount. On May 18, 2011, Mark filed..
The machine would reduce labor and other operating costs by $76,000 per year. The internal rate of return on the investment in the new machine is closest to:
Murphy Co. had 200,000 shares outstanding of $10 par common stock on March 30 of the current year. Murphy reacquired 30,000 of those shares at a cost of $15 per share and recorded the transaction using the cost method on April 15.
Prepare 2012 gift tax returns (Form 709) for the Bakers assuming that the § 2513 election to split gifts is made. The Bakers have made no prior taxable gifts. Relevant Social Security numbers are 123-45-6781 (David) and 123-45-6782 (Mia)
How do variable costs and fixed costs differ? Give an example of each. Analyze your personal expenses on a variable and fixed basis. What are some of your personal fixed costs and variable costs? What would cause them to change?
A 14- year old girl is missing after having an argument with her parents. They call the police at midnight on May 28. A police investigator shows up within 30 minutes to interview them and finds out that the girl spent a lot of time on the interne..
If the recorded value of a note differs from the face value:
George Judson is the sole shareholder and employee of Black Corporation, a C corporation that is engaged exclusively in engineering services. During the year, Black has gross revenues of $300,000 and operating expenses (excluding salary) of $100,0..
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