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On December 15, 2011, Rigsby Sales Co. sold a tract of land that cost $3,600,000 for $4,500,000. Rigsby appropriately uses the installment sale method of accounting for this transaction. Terms called for a down payment of $500,000 with the balance in two equal annual installments payable on December 15, 2012, and December 15, 2013. Ignore interest charges. Rigsby has a December 31 year-end.
In 2012, Rigsby would recognize realized gross profit of:
a. $0.b. $450,000.c. $300,000.d. $400,000.
Assume Mr. Cobb died after Mrs. Cobb and the land was worth $240,000 at this death. What amout was included in his gross estate?
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overhead costs applied to direct costs are 30%. a total of 3,500 meters were maintained. a private firm offers to do your PM for $10 a meter. Given the following information, should you contract out?
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Which is not a GAAP for investments in equity securities? a. replacement value method b. market value method c. Equity method d. consolidation
Which of the following best describes an opportunity cost?
How do the requirements originally established by SFAS N. 157 affect the use of fair value measurement in financial statements?
Compute a common-size analysis in Excel and discuss the differences between the two corporations.
The Ocean City water park is considering the purchase of a new log flume ride. The cost to purchase the equipment is 1,800,000, and it will cost an additional 180,000 to have it installed.
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