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Questions -
Q1. In January 2017, A (single) sold principle residence in which she had lived for 6 yrs for 695000. In 2011, she purchased home for 140000 and made 55000 of capital improvements on the home during his ownership. How much gain does he recognize from sale?
A. 250000
B. 260000
C. 500000
D. 510000
Q2. A exchanges a equipment with basis 100000 and FMV 125000 for other one with FMV 160000. What's her recognized gain?
A. 0
B. 25000
C. 35000
D. 60000
Net credit sales totaled P4,500,000 during the year while collections amounted to P4,400,000. What is the net realizable value of the Accounts Receivable
Compare and contrast REID and PEACE interviewing techniques. Which of the two is considered more appropriate for interviewing a fraud suspect and why
Prepare a bank reconciliation. If the balance sheet is prepared for Mathers Co. on July 31, what amount should be reported for cash
Apple Ltd, In the space provided - show goodwill entries, intragroup transactions and calculate direct and indirect non-controlling interest.
The company contracted to P400,000 annual rent on December. In recording the December 31, 2020, payment by what amount should the lease liability be reduced?
The company returned $240 worth of merchandise and then paid the invoice within the 2% cash discount period. Compute the total cost of this merchandise
What should be the income before income taxes derived by Jameson from the lease for the year ended December 31, 2015
Prepare table for Allocation of money received on Application. Prepare the General Journal and General Ledger entries to account for the share issue up to
The balances for the accounts listed below appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet (work sheet). Indicate whether each balance should be extended to
What the acronym VADM means in the context of MBS? A description of the new CMO tranche and how it may or may not be a better choice for the client.
You do NOT plan to make additional savings during the years you travel. How much do you need to deposit every year in order
The balance to be shown in the Accumulated Depreciation-Vehicle account on the Balance Sheet for the Cougar Detective Agency is a credit of
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