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"Your client, Bob Young, is negotiating a sale of investment real estate for $12 million. Bob believes that the buyer would pay cash of $8 million and a note for $4 million. Or $3 million cash and a note for $9 million. The note will pay interest slightly above the market rate. Bob realizes that the second option involves more risks of collection, but he is willing to accept that risk if the tax benefits of the installment sale are substantial. What are the tax consequences of choosing the lower down payment and larger note option, assuming he has no other installment receivables."
Redrafting contribution Margin statements - Electricity cost is only for lighting a rather large area of land for play at night and is always on after sunset regardless of how many shooters are on site.
Calculation of cost per equivalent unit for materials - The company wishes to have 10% of the next month's sales on hand at the end of each month. Budgeted production for November is?
Calculation of ending cost of inventory and Calculation of cost per unit
The family and friends usually give the clerk cash as a"thank you". Illustrate which procedure will not prevent or detect this fraud?
If you were a business owner or manager, illustrate what would you do to collect on a customer unpaid bill? At what point would you deem the account bad debt and write it off?
During October 175,000 units were completed and transferred out. At the end of the month, 30,000 units (direct materials 80 percent complete and conversion 40 % complete) remain in WIP inventory. Compute EU, cost per EU, cost of units transferred o..
Prepare general journal entries to record the above transactions.
Compare your answer in requirement H with your answer in requirement D. What conclusions can you draw about the effects of operating leverage from the steps you performed in requirements F, G, and H?
Garcia Corporation purchased a truck by issuing an $80,000, 4-year, zero-interest-bearing note to Equinox Inc. The market rate of interest for obligations of this nature is 10%. Prepare journal entry to record the purchase of this truck.
Use the contribution margin approach to evaluate Peyton Travel's new break-even point in tickets sold. How does this compare to your answer in part
Prepare journal entries for 2010 using the Completed-contract method.
Construct two journal entries for actual costs incurred - one for variable overhead and one for fixed overhead.
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