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Brave Industries is considering buying a machine for $180,000 with an estimated life of ten years and no salvage value. The straight-line method of depreciation will be used. The machine is expected to generate net income of $12,000 each year. The cash payback on this investment is
A) 15 years.B) 10 years.C) 6 years.D) 3 years.
During 2010, Ace Company had sales of $376,000, operating expenses of $66,000, gross margin of 30%, cash dividends $30,000, other expenses/losses $15,000 and corporation income taxes of 30%. What was the income tax expense for 2010?
What is the budgeted factory labor costs for July? What amount would appear in the July selling, general, & administrative expense budget?
For its 2010 tax year, Ilex Corporation has ordinary income of $240,000, a short-term capital loss of $60,000, and a long-term capital gain of $20,000. Calculate Ilex Corporation's tax liability for 2010.
Prepare journal entries to record the following retirement. (Show computations and round to the nearest dollar.)The December 31, 2010 balance sheet of Wolfe Co. included the following items: 7.5% bonds payable due December 31, 2018 $1,200,000
On August 31, 2008, Devs Autoparts Company sold $8,000 worth of parts to Metro Repair Company. The terms of the sale were n/90. Devs receivable policy is to start charging interest of 9% (annually) on all balances over 90 days. Interest is accrued..
Discuss how the deferred tax liability will impact Obadiah Vineyards cashflow in the short term? Long term?
Discuss the potential risks of adopting lean production. Does its application depend on company culture and business condition?
Jamison Company produces and sells Product X at a total cost of $25 per unit, of which $15 is product cost and $10 is selling and administrative expenses. In addition, the total cost of $25 is made up of $14 variable cost and $11 fixed cost
Determine the actual and standard variable cost per bag of dog food produced, separated into direct materials. direct labor, and variable overhead.
Can you give an example of what this number may look like by using the income statement of a real-life company?
Sarah transfers property with an $80,000 adjusted basis and a $100,000 FMV to Super Corporation in a Sec. 351 transaction. Sarah receives stock with an $85,000 FMV and a short-term note with a $15,000 FMV. Sarah's basis in the stock is:
A business taxpayer sells depreciable business property with an adjusted basis of $400,000 for $32,000. The taxpayer held the property for more than a year. The taxpayer has an $8000 long term capital loss.
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