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1.Lia Wu and Becca Sims are partners who share in the income equally and have capital balances of $150,000 and $62,500, respectively. Wu, with the consent of Sims, sells onethird of her interest to Kara Oliver. What entry is required by the partnership if the sales price is:
(a) $40,000?
(b) $60,000?
She has a large amount of income from other sources and is in the 33% marginal tax bracket. Would Tina's tax situation be better if XYZ were a proprietorship or a C-corporation? Explain why.
company a and company b are identical except that company as costs are mostly variable whereas company bs costs are
In investment analyses, analysts often cut off project lives at an arbitrary point and estimate a salvage or a terminal value. If these cash flows are used to estimate project duration, we will tend to
starla has decided to retire in 12 years. she has 44400available today and wants to invest the money to supplemement
1.During 2011 (its first year of operations) and 2012, Batali Foods used the FIFO inventory costing method for both financial reporting and tax purposes.
On December 5, the store received $500 from the Jackson Players as a deposit to be returned after certain furniture to be used in stage production was returned on January 15.
on january 1 2013 calloway company leased a machine to zone corporation. the lease qualifies as a direct financing
The estimated residual value of the property is $80,000. During 2009, the company extracted and sold 4,000 tons of ore. The depletion expense for 2009 is:
WHAT ARE THE JOURNAL ENTRIES
Assume that as of the end of the fiscal year the capital project had not yet begun, thus the debt proceeds were still unspent. What classifications of net assets would be affected by this fact?
what is right to counsel? explain when the right to counsel attaches and when it does not apply. how has the
brunswick parts is a small manufacturing firm located in eastern canada. the company founded in 1947 produces metal
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