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Problem 1: David purchased a TV from his employer. The regular price on the TV is $1,000 and the profit margin on the TV would be 25%. David paid $700 on the TV. David also purchased 2 years warranty on the TV. The regular price for the warranty to the customer is $150. As an employee, David only paid $100. How much income does David have to recognize?
How much goodwill was recorded as a result of the transaction? Jimmy Dean Rodriguez Sausage company acquired Eggs Danedict for $500,000
An investor in a 32?% tax bracket, What is the minimum price the investor could accept if all the gain is subject to the Medicare tax on net investment? income?
Although it may look unusual, when preparing a reversing entry you may temporarily create? a debit balance in an asset account.
What type of audit opinion (unqualified, qualified, adverse, or disclaimer) did the independent auditors issue on the company's financial statements?
Calculate the average expected return on portfolio X and Y. Calculate the average expected return on portfolio X and Z. What is your advise to this investor.
Nevada, Inc. issued a P5, 000,000, How much interest expense should Nevada report in profit or loss for the year ended December 31, 2015?
Compare and contrast the requirements of fund accounting under GASB with the requirements of similar corporate accounting under GAAP.
The company bought new premises during the year costing £50m. Calculate Fresco profit for the year and earnings per share
Compute What is the firm weighted average cost of capital? RZ Ltd has 80,000 bonds outstanding that are selling at par ($1,000 each bond).
What was the carrying value after the January 1, 2022 amortization entry? Based on the issue price, was the market rate of interest at the time
On April 30, 2018, XYZ Company received $16,800 cash from a customer as payment for services to be performed over the next fourteen months. Calculate the amount of unearned revenue that would appear in XYZ Company's balance sheet at December 31, 2018..
Prepare an aging schedule for the accounts receivable, and give the journal entry for recording the necessary change in the allowance for bad debts account.
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