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Problem - Determine Amos's gross income in each of the following cases:
a. In the current year, Amos purchased an automobile for $25,000. As part of the transaction, Amos received a $1,500 rebate from the manufacturer.
b. Amos sold his business. In addition to the selling price of the stock, he received $50,000 for a covenant not to compete-an agreement that he will not compete with his former business for five years.
c. Amos owned some land he held as an investment. As a result of a change in the zoning rules, the property increased in value by $20,000.
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The ledger of Waite Corporation at December 31, 2017, after the books have been closed, contains the following stockholders' equity accounts.
An article in the financial press stated, "More than half of software maker Comserve's net worth is in a pile of tapes and ring-bound books.
The accounting records for Miller Fixtures report the following production costs for the past year: Determine the costs per unit for last year and for this year
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