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Heather owns a two-story building. The building is used 40% for business use and 60% for personal use. During 2013, a fire caused major damage to the building and its contents. Heather purchased the building for $800,000 and has taken depreciation of $100,000 on the business portion. At the time of the fire, the building had a fair market value of $900,000. Immediately after the fire, the fair market value was $200,000. The insur- ance recovery on the building was $600,000. The contents of the building were insured for any loss at fair market value. The business assets had an adjusted basis of $220,000 and a fair market value of $175,000. These assets were totally destroyed. The personal use assets had an adjusted basis of $50,000 and a fair market value of $65,000. These assets were also totally destroyed. If Heathers AGI is $100,000 before considering the effects of the fire, determine her itemized deduction as a result of the fire. Also determine Heathers AGI.
Jackson Corporation has two service departments whose direct department costs are $75,000 and $10,000, respectively, and two producing departments whose direct department costs are $60,000 and $250,000, respectively.
There were no dividends declared in 2009. The board of directors declares and pays a $45,000 dividend in 2010 and in 2011. What is the amount of dividends received by the common stockholders in 2011?
lagerfield company reported the following results from the sale of 4220 hammers in may sales 198340 variable costs
Ideally, which of the following type of assets should be financed with long-term financing?
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The scrap value of the project's assets at the end of the project would be $28,000. The payback period of the project is closest to:
tudor company acquired 500000 of carr corporation bonds for 487706.69 on january 1 2013. the bonds carry an 11 stated
juras inc. and hinson inc. have the following operating datajuras hinsonsales
Lennon was achieved by this acquisition. Lennon distributed a dividend of $2.50 per share during 2009 and reported net income of $670,000. What was the balance in the Investment in Lennon Co. account found in the financial records of Pacer as of D..
The remainder of the fixed selling and administrative expense represents current cash flows. The cash disbursements for selling and administrative expenses on the March selling and administrative expense budget should be:
stritch company is trying to decide how many units of merchandise to order each month. the companys policy is to have
Compute 2014 cash basis net income and compute 2014 accrual basis net income
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