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Blue Moon Incorporated is owned 100% by Maggie Hayes. The corporation redeemed 25% of her stock for $130,000 cash. The corporation’s E&P is $110,000. Her stock basis is $80,000. How much of the payment is a taxable dividend? $130,000, $20,000, $50,000, or $110,000?
For Bobby company, sales are $1,000,000 (5000 units), fixed expenses are $300,000, and contribution margin per unit is $80. what is the margin of safety in dollars?
Mike Beasley buys and sells real estate. On December 31, 2016, his inventory of property included a tract of undeveloped land for which he had paid $800,000. The fair market value of the land was $900,000 at that date. How much income should Beasley ..
After the equipment is sold, why is retained earnings on January 1, 2012, equal to a negative $74,000 in both cases despite having shown a different pattern of expenses, gains, and losses over time?
This is my situation, I own a used car lot, I sold and report to Department of Revenue in sales the amount of $720.000 dollars.
Prepare journal entries for the transactions accomplished in each month.
To start the new business, the company will need to purchase 60 brand new sailing catamarans at $10,000 per each. Unlike surf boards, catamarans are more durable and it takes 15 years for each to fully depreciate (under MACRS). "Ocean Adventures Co."..
what level of L does the marginal product equal the average product?
Develop a personal financial plan detailing the financial goals that you and/or your family have developed - Analyze your personal financial situation using appropriate financial tools
Fielder co obtained land by issuing 2,000 shares of its 10 par value common stock. The land recently appraised at 85,000 the common stock is actively traded at 40 dollars per share. Prepare journal entries to record acquisition of the land.
Interim reports. A few years ago, a publishing company in the fourth quarter had a net profit figure that exceeded sales for that quarter. Such a situation as this suggests that some difficult accounting issues are involved in interim reporting. What..
On October 1, 2006, Marble Company had 400,000 shares of $2 par common stock issued and outstanding. Prepare the shareholders' equity section of Marble's balance sheet at September 30, 2007.
bad debt and the allowance for doubtful accounts.normandale brewing and distilling companys post closing trial balance
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