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Question - On 1 July 2019 Mary acquired a rare coin for $55765. Mary borrowed $30,000 of the money from the XYZ Bank. The loan was a fixed interest loan on which she paid interest of $21,000. Mary sold it in September 2020 for $83964.
Required - Calculate the Net Capital Gain, if any, to be included as Mary's assessable income for the year ending 30 June 2021?
the general ledger account for accounts receivable shows a debit balance of 40000. the allowance for uncollectible
AMR Corporation (parent company of American Airlines) reported the following (in millions). Compute AMR Corporation's pension expense
Discuss the emerging technologies in auditing profession and identify how it would benefit the profession. Discuss the challenges faced and provide
How much will you have when you retire in 47 years? How much will you have if you wait 10 years before beginning to save and only make 37 payments
What was the straight-line interest expense on the December 31 annual income statement?
Purchases, $163,570; Freight In, $5,200; Purchases Returns and Allowances, $8,000. What was the delivered cost of purchases for November
Declared a $0.60 per share dividend to stockholders of record on December 15, payable January 5, 2018. 31 Determined that net income for the year was $375,000.
How much higher or lower would income taxes have been in the current year (year ended August 31, 2017) if CVS used the FIFO method
What is the IASB? Give a brief overview of and examples from the IASB on its globalisation activities that culminated in the adoption of IFRS in Australia.
Sales (net) $ 56,600 Cost of goods sold (31,400) Gross profit $ 25,200 Salaries expense $ 19,200, Determine Gamma Garments net operating cash flows
zhau manufacturing company has two departments machining and finishing. for a given period the following costs were
When is revenue recognized under the deposit method? How does the deposit method differ from the installmentsales and cost-recovery methods?
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