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On its December 31, 2012 balance sheet, Emig Corp. reported bonds payable of $9,000,000 and related unamortized bond issue costs of $480,000. The bonds had been issued at par. On January 2, 2013, Emig retired $4,500,000 of the outstanding bonds at par plus a call premium of $105,000. What amount should Emig report in its 2013 income statement as loss on extinguishment of debt (ignore taxes)?
Evaluate what MACRS convention applies to machine and find weston's cost recovery for 2012 is $ and for 2013 is $ .
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Management contends that the device merely represents an improvement of the existing communication system of the satellite and so should be capitalized
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Questions on construction costing and accounting - complete the project. Using the percentage-of-completion method, Indiana
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At a volume of 5,000 units the company incurs $25,000 in factory overhead costs. If volume increases to 10,000, illustrate what would the expected total overhead costs be?
How much of the $1,000,000 notes payable should be classified as current in Reeds balance sheet at December, 2007 and Computation of par value of stock after split off
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Record the journal entries necessary on Crain's books for 2005 assuming that Crain uses the equity method to account for its investment in Downey.
Evaluate the basis of each shareholder's stock in the new corporation. Determine the basis of each property in the hands of the corporation.
A gift tax of $2,800 was paid by the aunt. Barbara sold the stock in the following year for $29,000. What is Barbara’s basis in the property for the sale.
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