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Carla, Linda, and Terry form a partnership. Carla contributes machinery (that was purchased in 2006 and has an adjusted basis of $45,000 and a fair market value of $70,000) in return for a 35% interest in capital and profits. Linda contributes land (that was purchased in 2006 for $30,000) in return for 40% interest in capital and profits. Terry contributed services in return for the remaining 25% interest in capital and profits. Determine the basis and return effects for each partner
The demand curve for a product is given by Qxd = 2,000 - 5Px + 0.2Pz, Where, Pz = $500. a. What is the own price elasticity of demand when Px = $120? Is demand elastic or inelasti
Calculat capital expenditure, How to define Capital expenditure This is kind of expenditure on fixed assets like as plant or equipment, the cost of which is spread over several
On May 15, 2010, Your Corporation acquired an airplane (5 year recovery period, 6 year class life) for $1,450,000. Its qualified business use is 54%. Determine the maximum cost rec
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1. Jim buys only milk and biscuits. (a) In 2004, Jim earns $100, milk costs $2, biscuits cost $4 per dozen. Draw Jim's budget constraint (b) Now suppose that all prices i
what is the reason of incorporating 1. corporate governance statement 2. audit committee statement 3. internal audit statement into annual reports?
Question 1: (a) Define program evaluation. (b) Discuss the four types of program evaluation that are usually carried in the Public Sector. Question 2 (a) You have
Illustration of double entry The balances on the current accounts of a head office and branch were Ksh 698,000, before the transactions listed below: Normal 0
A 15-year, 14% semiannual coupon bond with a par value of $1,000 may be known as in 4 years at a call price of $1,075. The bond sells for $1,050. (Suppose that the bond has just be
LIMITATIONS O F FINANCIAL ACCOUNTING 1. Simply transactions which can be calculated in terms of money can be recorded in the books of accounts. Actions, though important t
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