Reference no: EM13992028
87. LO3 Pablo wins a new automobile on a television game show. The car has a listed sticker price of $31,500. A dealer advertises the same car for $30,000. How much income does Pablo have from the receipt of the car? Explain.
88. LO3 Determine the amount of income that must be recognized in each of the following cases:
a. Ramona is a production supervisor for White Company. During the current year, her division had no accidents, and White rewarded the achievement with a $200 cash award to each employee in the division.
b. Lenny retires from the Brice Company this year. At his retirement reception, the company gives him a set of golf clubs valued at $600 in appreciation of his years of loyal service.
c. Fatima is named Humanitarian of the Year by Local City for her volunteer service. She receives a plaque and an all-expense-paid trip to Washington, D.C., where she will meet the president. The value of the trip is $1,400.
d. Sook is a college professor specializing in computer chip development. During the current year, he publishes a paper that explains the design of a revolutionary new chip. Softmicro, Inc., awards him $10,000 for the best breakthrough idea of the year. Sook uses the money to purchase a computer workstation to use in his research.
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Calculate the maximum torque on the current loop
: Calculate the maximum torque on the current loop. Show the direction of the torque relative to the wire( (Show drawing/figure for full credit).
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Problem regarding the job-related injury
: Elwood had to retire early because of a job-related injury. During the current year, he receives $10,000 in Social Security benefits. In addition, he receives $6,000 in cash dividends on stocks that he owns and $8,000 in interest on tax-exempt bon..
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Problem regarding the unemployment benefits
: John is unemployed. During the current year, he receives $4,000 in unemployment benefits. Because the unemployment is not enough to live on, John sells drugs to support himself. His total revenue for the year is $120,000. The cost of the drugs is ..
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Calculate the maximum deceleration of a car
: Calculate the maximum deceleration of a car that is heading down a 11° slope (one that makes an angle of 11° with the horizontal) under the following road conditions.
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Best breakthrough idea of the year
: During the current year, he publishes a paper that explains the design of a revolutionary new chip. Softmicro, Inc., awards him $10,000 for the best breakthrough idea of the year. Sook uses the money to purchase a computer workstation to use in hi..
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Find the equation of motion of the uniform rigid bar
: Find the equation of motion of the uniform rigid bar and Will the force transmitted to the base of a spring mounted machine decrease with the addition of viscous damping?
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Problem regarding the common stock of nishida
: Devi is the chief executive officer of Nishida Limited. Devi owns 20% of the common stock of Nishida. During the current year, Devi's salary is $60,000 and he receives a $30,000 bonus. Nishida has taxable income of $200,000 and pays $80,000 in ca..
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Cam rental corporation and transfers
: Camille owns several rental properties that produce $3,000 in income each month. Because of the age of the properties, Camille is concerned about her potential liability from accidents on the property. On June 1, she forms the CAM Rental Corporati..
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Frank gives the pujan stock to dorothy
: Frank owns 1,000 shares of Pujan stock. On May 1, Pujan declares a $12-per-share dividend to shareholders of record as of June 1. On May 15, Frank gives the Pujan stock to Dorothy. She receives the $12,000 dividend on June 30.
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