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A project has an annual rate of return of 15%. The project cost $120,000, has a 5 year useful life, and no salvage value. Straight-line depreciation is used. The annual net income, exclusive of depreciation, was
a) $47,700 B) $42,000 C) $33,000 D) $18,000
(It would really help if you would show your work as I would like to learn how to solve the problem and not just get the answer.)
LMN reported sales of $200,000 and an increase in accounts receivable of $30,000 during 2014. Under the direct method, what would be LMN's cash collected from customers during 2014?
Prepare the journal entries for the issuance of preferred stock for land and issuance of common stock for cash
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How should the $10,000,000 of commercial paper be classified on the December 31, 2010, January 31, 2011, and February 28, 2011, balance sheets and What would your answer be if, instead of a refinancing at the date of issuance of the financial stat..
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Sharon has the following results of netting her short-term and long-term capital gains and losses for 2014: $56,000 short-term capital loss, and $82,000 net long-term capital gain ($21,000 0%/15%/20% long-term capital gain, and $61,000 25% long-term ..
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