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Henry transfers property with an adjusted basis of $90,000 and a FMV of $100,000 to a newly-formed corporation in a Sec. 351 exchange. Henry receives stock with a FMV of $80,000 and a short-term note with a $20,000 FMV. Henry's recognized gain is ??
prepare a journal entry to record interest on december 31,2012, using the effective interest method.
What other factors should the owner consider before making the final decision to purchase the machine?
Nicole, an accountant, agrees to contribute her services (worth $25,000) in organizing Indigo. The corporation's stock is distributed equally to Kevin and Nicole. As a result of these transfers:
Assuming there are no antidilutive securities, what is the number of shares Feterik should use to compute diluted earnings per share for the year ended December 31, 2011?
In the diluted earnings per share computation, the treasury stock method is used for options and warrants to reflect assumed reacquisition of common stock at the average market price during the period. If the exercise price of the options or warra..
Johnsons Construction is considering an investment in equipment costing $660,000. The equipment will be depreciated on the straight-line basis over an 8 year period with an estimated residual value of $120,000.
At the start of february pete's had salaries payable outstanding of $17,000. on february 4th,pete sent out paychecks to its employees valued at $20,000. prepare the journal entry for this transaction.
If Roland declared $150,000 of cash dividends on preferred stock and has 100,000 shares of common stock outstanding throughout the year, earnings per share is:
The allowance for uncollectible accounts currently has a credit balance of $900. After analyzing the accounts in the accounts receivable subsidiary ledger, the company's management estimates that uncollectible accounts will be $15,000.
Vince's assistant manager, an accounting major, has suggested that the firm should try to increase the contribution margin per pizza. Explain the meaning of "contribution margin" in layman's terms.
The town of Seaside has decided to construct a new sea aquarium to attract tourist. The cost of the measure is to be paid by a special tax. Although most of the townspeople believe the sea aquarium is a good idea, there is disagreement about how t..
At the end of the 4 years, the equipment is sold for $6,000 when the tax basis of the equipment is $4,500. Income tax rate is 35%. The net cash flow from disposal is ?
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