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Discuss the reasons for Yahoo's proposed acquisition of Tumbler. Has it been successful? How much will Yahoo receive from the IPO of Alibaba?
Which of the following is a significant disadvantage of a general partnership
Bob and Elizabeth, both 55 years old and married, sell their personal residence to Wolfgang in 2011. Wolfgang pays $660,000 and assumes their $90,000 mortgage. To make the sale they pay $20,000 in commissions and $10,000 in legal costs.
a) Prepare journal entries to record the events above in the debt service fund. b) Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the debt service fund for the year ended December 31, 2008
Green Co. constructed a machine at a total cost of $70 million. Construction was completed at the end of 2007 and the machine was placed in service at the beginning of 2008. The machine was being depreciated over a 10-year life using the sum-of-th..
In 2012 Sweetwater's excess net passive income is $42,000. Sweetwater holds $31,000 of accumulated earnings and profits from a C corporation year.
How much revenue will Drysdale recognize under the cash method and under the accrual basis? Describe how Drysdale should apply the matching principle to recognize expenses. Prepare an income statement according to the accrual method. Ignore income ta..
Early in January 2011, the internal auditors for Arkansas Inc. discovered these errors and omissions in their review of the 2010 financial records. Arkansas Inc. has not yet closed its books for 2010.
Phil and Linda are 25 year-old newlyweds and file a joint tax return. Linda is covered by a retirement plan at work, but Phil is not.
Use a present value table to determine the amount of cash that Mr. Gulliver's father should give him. Use an algebraic formula to prove that the present value of the trust fund (the amount of cash computed in portion "a") is equal to its $60,000 fu..
The company issued to the stockholders 100,000 rights. Ten rights are needed to buy one share of stock at $34. The rights were void after 30 days. The market price of the stock at this time was $36 per share.
Speedy Parcel Service operates a fleet of delivery trucks in a large metropolitan area. A careful study by the company's cost analyst has determined that if a truck is driven 120,000 miles during a year, the average operating cost is 11.6 cents pe..
If a stock has a constant growth rate of 6% per year and paid a dividend of $5.00 yesterday, what is the value of the stock if the discount rate is 10%?
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