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At December 31, 2010, the following information was available for J. Graff Company: ending inventory $52,130, beginning inventory $61,050, cost of goods sold $295,030, and sales revenue $396,280. Calculate inventory turnover and days in inventory for J. Graff Company. (Round answers to 1 decimal place, e.g. 10.5.)
Prepare a schedule to show the equity income Tinker should recognize for 2011 related to this investment.
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Penny, Miesha, and Sabrina transfer property to Owl Corporation for 75% of its stock. Nancy, their attorney, receives 25% of the stock in Owl for legal services rendered in incorporating the business. What are the tax consequences of these transac..
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Widgets used an acceleration method of depreciation and deducts warranty expenses when occured. What deffered tax assets or liabilities will result from this accounting proctices?
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