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The ABC, a computer manufacturing organization, is using building "ALFA-I" as manufacturing department while building "ALFA-II" for its administrative work. As a "Manager Accounts", you are required to advice to the Accountant of the organization with logical reason regarding the treatment of depreciation of the building "ALFA-I" as direct or indirect manufacturing expense.
Also explain to him that in which heads of the "Income Statement" the depreciation of "ALFA-1" and "ALFA-II" will be reported.
What is Omega's taxable income for the current year, assuming qualified production activities income is $20,000?
Cayuga Meadows purchased 42,000 shares of common stock of Long Corporation as a long-term investment for $1,000,000. During the year, Long Corporation reported net income of $500,000 and paid dividends of $200,000.Instructions:
On April 30, 2010, B. Row, Inc. issued $50,000, 15-year, 7% bonds at 100. The bonds pay interest semiannually on April 30 and October 31. Cash paid for interest on the Statement of Cash Flows for the year ended December 31, 2010 equals:
company planned to produce and sell 40000 units. at that volume level variable costs are determined to be 320000 and
Compare and contrast the five types of analytical procedures. Determine for which situations each is best suited. Defend your answer.
kobyashi moru reports its inventory fixed assets depreciation and cost of goods sold on a current value basis fair
Without regard for this investment, keefe earns $300,000 in net income during 2010. All the net income is earned evenly throughout the year. What is the controlling interest in consolidated net income for 2010.
gopal was holding 100 shares of rs.10 each of a company on which he had paid rs3 on application ad rs.2 on allotmentbut
describe the effect of each transaction on assets liabilities and owners equity. 1. incurred advertising expense on
Effective January 1, 2008, for financial statement reporting, Baden decided to change to the straight-line method for depreciation of the machine. Assume that Baden can justify the change.
the completed financial statement columns of the worksheet for woods company are shown below.account no.account
Muriel, age 70 and single, is claimed as a dependent on her daughter's tax return. During 2009, she had interest income of $2,400 and $800 of earned income from babysitting. Muriel's taxable income is what?
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