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Question - On November 1st Charlotte sells equipment for $100,000 to an unrelated party. $20,000 is received at closing and $20,000 will be received each November 1st for the next four years. Adequate interest is charged and received with each installment. The equipment originally cost $70,000 and is fully depreciated. Under section 1245 the depreciation must be recaptured in the year of sale. Using the installment sales method determine the amount of income recognized in the first and second years. You may ignore the interest income.
Compute the earnings per share and book value per share of common stock - calculate the price-earnings ratio for each company.
What is the feasible or attainable set of all possible portfolios? How is it derived for a given group of investments?
lunderville inc. bases its selling and administrative expense budget on budgeted unit sales. the sales budget shows
The amount of unrealized intercompany profit which should be eliminated in the consolidation process at the end of 2006 is:
Novak Corporation was organized in 2016 and began operations at the beginning of 2017. Prepare the journal entry to record organization costs for 2017
abc auto insurance classifies drivers as good medium or poor risks. drivers who apply to them for insurance fall into
The trial balances before and after adjustment for Garcia Company at the end of its fiscal year are presented below.
A local science museum normally sells tickets
The column of the income statement show the debits are equal to $56,899 and credits are $60,333. What do this information mean to the accountant?
summarize the events of a recent accounting scandal. identify how the illegalunethical act was detected and the
Tina and Randy formed the TR Partnership four years ago. How should Susan treat the receipt of the partnership interest in the current year
omalley corp. uses the fifo method of process costing system. material is added at the beginning of the production
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