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joshua purchased business furniture and fixtures (7 year property) for 40,000 in may 2008 on july 15 2011 joshua sold the furniture and fixtures for 30,000 during his years of ownership he had taken 27,504 of depreciation for regular tax purposes AMT depreciation for that period was 17,276 what is the 2011 AMT adjustment requiered as a result of the sale of the assets?
a-0b-7,276c-10,228d-17,504
A financial advisor tells you that you can make your child a millionaire if you just start saving early. You decide to put an equal amount each year into an investment account that earns 8% interest per year, starting on the day your child is born..
Decide if either of these actions is warranted in your particular case and state why you think that way.
What portion of the unrealized intercorporate profit is eliminated in a downstream sale? In an upstream sale? Explain.
The board of directors declared and paid a $3,000 dividend in 2009. In 2010, $15,000 of dividends are declared and paid. What are the dividends received by the preferred and common shareholders in 2010?
During the year, accounts receivable decreased $7,000, merchandise inventory increased $5,000, accounts payable increased by $10,000, and depreciation expense of $5,000 was recorded. During 2007, operating activities:
Springfield Express is considering offering a discounted fare of $ 120, which the company believes would increase the load factor to 80 percent. Only the additional seats would be sold at the discounted fare.
Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities.
Its average product sells for $28 a unit. the variable cost per unit is $18. the store experiences a 45 percent tax rate. What are the store's fixed costs expected to be next year? Calculate the store's break-even point in both units and dollars.
All of the following would be entries in assigning accumulated costs to the Work In Process Inventory except:
Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and collection on August 15, 2011.
Which of the following scenarios reflects the correct application of U.S. GAAP for capitalization of certain expenditures as intangible assets?
Sonny Bono made an investment on August 1, 2011 which earned $9,000 one year later. If the investment's rate of return was 8%, how much did Sonny invest?
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