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Simons Corp has unadjusted net income from continuing operations before tax of $168,000 before the following items were entered in the accounting records in 2013:1. Unrealized gains on an avilable-for-sale investment portfolio of $34,5002. A loss from an earthquake of $450,000 and gain from insurance proceeds of $250,000. Siimons has never suffered an earthquake before and it is not located on a faultline.3. A loss from a discontinued depratment of $165,000 and a gain of $70,000 from selling the department.4. Restructuring costs of $45,000.5. Depreciation of $50,000 and amortization of $30,000.6. A realized gain of $82,000 from securites sold out of the investment account.Please prepare an income statement with a proper heading starting with income from continuing operations for Simons in 2013. There tax rate is 30%.
Conditions of a will A written will is not valid unless it fulfills the following conditions. 1) The testator must sign the will; or he must affix his mark to the will (i.e. a
Evaluate the following statements, and explain why you agree or disagree. (a) In a recent interview, a Wall Street investment banker commented on the infrequent use of Prefer
Q. Flexibility in Debt finance? Debt finance is more elastic than equity in that various amounts can be borrowed at a fixed or floating interest rate and for a range of maturit
April 2014 Notepayable $9,825,000 was issued. First due is April 1,2015. 6% interest erroneously expensed a full year''s interest
In May of 2010 a calendar year taxpayer, placed in service $2,137,000 of USED 15-year recovery property. The taxpayer has taxable income of $1,175,000 before the cost recover
The existing company WACC replicates the company's current gearing level and its existing Ke and Kd and the Ke in turn reflects the shareholders' risk perception of the company's e
On May 1, 2010, Ziek Corp. declared and issued a 10% common stock dividend. Prior to this dividend, Ziek had 100,000 shares of $1 par value common stock issued and outstanding. The
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Determine out the future value of Rs.1000 compounded yearly for 10 years at an interest rate of 10 percent. Solution: The future value 10 years thus would be FV = PV (1+k)
How to treat them both which affect the trial balance and which dont affect the trial balance
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