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Bob sold a piece of business equipment that had an adjusted basis to him of $50,000. In return for the equipment, Josh received $80,000 cash and a painting with a fair-market value of $20,000 from the buyer. The buyer also assumed Josh's $25,000 loan on the equipment. Josh paid $5,000 in selling expenses. What is the amount of Josh's gain on the sale?
What is the probability the selected employee is a production worker? What is the probability the selected employee is either a production worker or a supervisor? Refer to part (b). Are these events mutually exclusive?
slick corporation is a small producer of synthetic motor oil. during may the company produced 5000 cases of lubricant.
Compute the 2013 ROE for each company. Express ROE as a percentage rounded to one decimal place. Which company appears to generate greater returns on stockholders equity in 2013? Compute the 2013 P/E ratio for each company (rounded to one decimal pla..
Riff CD Company has had 4 years of retained earnings. Due to this success, the market price of its 400,000 shares of $3 par value common stock has increased from $12 per share to $51. During this period, paid-in capital remained the same at $2,400,00..
millonzi corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of
Analyze the role of the audit committee for Madoff Securities in regard to the discovery of Ponzi scheme, and suggest one (1) action the audit committee could have taken in order to prevent or detect the fraud. Provide a rationale to support the s..
prepare journal entries to record the following retirement. show computations and round to the nearest dollar.the
In the accounting world, you find that there are many benefits to becoming a not-for-profit entity. These may be so considerable that traditional for-profit entities forgo their profit making potential
how firms estimate their cost of capital the wacc for a firm is 13.00 percent. you know that the firms cost of debt
Statistical quality control. Harvest Cereals produces a wide variety of breakfast products. The company's three best-selling breakfast cereals are Double Bran.
The total equivalent units for direct materials and conversion are 38,000 liters and 40,000 liters, respectively. Determine the direct materials and conversion cost per equivalent unit. Round all answers to nearest cent.
What characteristics of a plant asset make it different from other assets? Explain the general rule for cost inclusion for plant assets.
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