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Case 1:
A lawyer withdraws his entire capital account from his law firm and uses the funds to finance the purchase of a home in which he resides. On the same day, the lawyer borrows an equivalent amount of funds by way of bank loan and deposits the funds to his law firm.
Issue: Is the interest expense on the bank loan deductible for tax purposes by the lawyer?
Case 2:
An accountant, whose entire practice consists of real estate agents and real estate developers, purchased, on the advice of a client, a parcel of raw land two years ago for $50,000. The accountant today accepted an offer to purchase the land from a third party for $125,000. The third party is going to use the parcel of land as part of a golf course development. Disposition costs will amount to $15,000.
Issue:1. What is the amount of the gain to be reported by the accountant for income tax purposes?2. Advise the accountant on the nature of taxation of his gain on the sale of the land for income tax purposes
Excalibur company has created a model to predict sales revenues for its line of beach towels and swimwear based on long-range weather forecasts.
Break-even-sales, units and the BEP Chart - develop a breakeven chart for the text book and evaluate the number of copies they must sell to earn an operating profit of $21,000 on this book
A Corporation is unlevered, zero growth firm with expected EBIT of $4 million and corporate tax rate of 40% Find out the optimal debt level according to MM with corporate taxes (with no financial distress)?
Computation of growth rate and value per share and The chairman of Heller Industries told a meeting of financial analysts that he expects the firm's earnings and dividends to double over the next six years
What are the possible reasons for, or sources of, long run IPO underperformances? In a detailed response please explain why do firms go public?
If I borrow 60,000 from bank at 10% interest over the seven-year life of loan, what equal annual payments should be made to discharge the loan plus pay the bank its required rate of interest. Annual payments_____.
Determine the total income the company must get its sales to cover the Total Fixed Cost, Total Variable Costs and the expected gain.
Provide some example of a market-driven minimum wage? Do you support or disagree with having a market driven minimum wage? Explain your answer.
Determine how you plan to create an investment portfolio. What steps do you plan to undertake to create your portfolio? How do you plan to weight the portfolio? How do you plan to account for risk?
Find out the present value of following three year cash-flow stream if your interest rate is 6%.... Year 1 $200, Year 2 $400 Year 3 $300 ?
The auto industry does need the bail out. It is necessary to protect millions of jobs across the US (one out of ten American jobs is associated with auto industry).
Discuss briefly the social responsibilities of Home Depot.
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