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On January 1, Father (Dave) loaned Daughter (Debra) $100000 to purchase a new car. There were no other loans outstanding between Dave and Debra. the relevant federal rate on interest was 6 percent. the loan was outstanding for the entire year.
a. if debra has 15000 of inveestment income, dave must recognize 6090 of imputed interest income.
b. dave must recognize 6090 of imputed interest income regardless of the amount of debra's investment income.
c. debra must recognize 6090 of imputed interest income.
d. debra must recognize 6090 of imputed interest income if dave has at least 6090 of investment income.
e. none of the above.
A Statement of Cash Flow is the statement which demostrate inflow and outflows of cash and cash equivalents of an enterprise during the particular period.
If the standard deviation of demand is six per week, demand is 50 per week, and the desired service level is 95%, approximately what is the statistical safety stock?
Prior to maturity, when the carrying value of the bonds was $105,000 scott retired the bonds at 102. Prepare the journal entries for redemption of the bond.
Legal Stars pays its employees each week. Its employees' gross pay is subject to these taxes.
Given the inherit audit risks related to inventory valuation, design an effective auditing plan for this area that minimizes risk exposure for the auditing firm.
Direct material used $25, Direct labor 19, Variable manufacturing overhead 35, Fixed manufacturing overhead 40, Variable selling and administrative cost 17, Fixed selling and administrative cost 32, Which of the following choices correctly depicts..
The Door Company manufactures doors. Classify each of the following quality costs as prevention costs, appraisal costs, internal failure costs, or external failure costs
Godert pharmaceutical company has many scientists working in the labs trying to develop anti-aging drug. The cost of this research and development should be.
Which of the following statements is correct regarding the taxation of C corporation?
A company manufactures a single product. During year 2012, a total of 20,000 units of this product were produced and 15,000 units were sold. The sales price was $20.00 per unit.
During 2010, Barney Company purchased marketable equity securities as a short-term investment and classified them as trading securities. The cost and market value at December 31, 2010, were as follows:
What are the differences between accrual and cash basis accounting? Why is cash accounting not appropriate for financial reporting?
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