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Company borrowed $10000 on a 5 year, 9 percent installment note with quarterly payments of $626.42. How much of the first payment is principal?
During the year, Henry, a sole proprietor, sold for $65,000 a machine that was used in his business. The machine had been purchased in 2003 for $50,000, and when it was sold it had an adjusted basis of $30,000. How should this gain be treated?
What tax issues should Kathleen consider? Explain.
Explain some common internal controls that a company might have in place. What are they designed to protect? What are the reporting requirements regarding internal controls in the Sarbanes-Oxley Act?
Bettis Bus Company had earnings after taxes of $ 600,000 in the year 2009 with 300,000 shares of stock outstanding. On January 1, 2010, the firm issued 40,000 new shares, Because of the proceeds from these new shares and other operating improvemen..
Presented below are unrelated cases involving investments in equity securities. Indicate the accounting required for each case separately.
Is there a difference in approach to valuation by US GAAP and IFRS? Discuss and note two or three specific differences. In addition, briefly:
What is the EPS for the company if it has a P/E ratio of 20? What is the book value of the company if the price-to-book ratio is 1.5 and it has 100,000 shares of stock outstanding?
question-if the market rate of interest is 10 a rational person would just as soon receive 1100 three years from now as
A U.S. firm has purchased, for 50,000 FCs, an electric generator from a foreign firm. The exchange rates were 1 FC = $0.80 on the delivery date and 1 FC = $0.76 when the payable was paid. What is the final recorded value if the two-transaction met..
How much is the corporation as a whole better or worse off if the transaction is completed internally as opposed to each division dealing externally? Justify your answer.
gemcraft company bought a copyright for 45000 on january 1 1997 at which time the copyright had an estimated useful
You take a deep breath because Jackson and Kara are about to walk through the door. While Jackson and Kara were very pleased with the refund they received after they filed last year's taxes, you have the feeling they're going to be looking for mor..
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