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Question - Marathon Company has a year end of March 31. Marathon Company's financial statements included the following errors for the 2021 and 2022 years:
2021
2022
Ending inventory
$25,500 understated
$16,300 understated
Required - Calculate the amount by which income before income taxes was understated or overstated for: a. The 2021 year b. The 2022 year.
The cost of the project is $75,000. If the required rate of return is 20%, conduct a discounted cash flow calculation to determine the NPV
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On October 1, 2014 Kim Co. purchased (to hold to maturity) 300, $1,000, calculate the amount reported in Kim's 2014 income statement from this investment
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Use the horizontal model or write the journal entry to record collection of the note and interest at maturity
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Carrier Company reported net income of $360,000 and paid dividends of $30,000 on its preferred stock, What is the company's return on common stockholders equity
Why is it important to distinguish debt cancellation from a gift, bequest, or renegotiation of a purchase price?
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