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Ben recently made a one-time investment of $20,000 in the Florida 529 educational savings plan for his three-year-old son, Mitch. Assume the plan yields a constant 6 percent return for the next 15 years.
a. How much money will be available for Mitch after taxes when he begins college at age 18?
b. Assume, instead, that when Mitch turns 18, he decides to forego college and spend his time as a traveling artist. If Mitch's parents give him the amount in the 529 plan to pursue his dreams, how much will he keep after taxes if his marginal tax rate is 10 percent?
b-mart sells 5000 of blue jeans. the customer later tells b-mart that 200 of them are defective. the sale of the 5000
Write one page single space, comparing these two methods: key differences, and recommends which method should be used for this company and why.
Sugarland Company sells a single product and anticipates opening a new facility inCharlotteon May 1 of the current year.
At the time of the conversion, the unamortized premium is $2,000, the market value of the bonds is $110,000, and the stock is quoted on the market at $60 per share. If the bonds are converted into common, what is the amount of paid-in capital in e..
calcutron company is contemplating introducing a new type of calculator to complement its existing line of scientic
The income to be recognized each year is based on the proportion of costs incurred to total estimated costs for completing the contract. The financial statement presentations relating to this contract at December 31, 2010, follow:
shawn bates was working to establish a business enterprise with four of his wealthy friends. each of the five
Bengston, CPA, is conducting the audit of Pollution Control Devices
the austin land co sold lanbd for 85.000 in cash. the land was originally purchased for 65000 and at the time of sale
Cost incurred: $280,000, Billings: $400,000, Collections: $350,000. Calculate the amount of gross profit Muscle Construction should recognize in 2006, using the percentage-of-completion method.
For the year ended December 31, 2007, May's bad debt expense would be ??
Charlotte sold her unincorporated business for $360,000 in 2008. The sales contract allocated $150,000 to equipment, $110,000 to land, and $100,000 to goodwill.
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