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A long term debt of 2,151,000 represents the remaining balance on a 30 year old loan taken out 20 years ago at 11 % which options to refinance every ten years. If we refinance for the remaining 10 years at 7% how much interest expense will we save over the remainder of the loan?
How is tax basis calculated and what effect does tax depreciation have on the computation of the gain or loss on the disposition of a capital asset?
Compute the (a) inventory turnover, defined as cost of goods sold divided by average inventory, and (b) days' sales in inventory, defined as 365 times ending inventory divided by cost of goods sold, for both its raw materials inventory and its fin..
Your roommate, Jill Blalock, purchased a new portable DVD player just before this school term for $80.
Prepare the journal entries to record the sale on July 15 (ignore cost of goods) and collection on August 15, 2011.
The company is currently producing 15,000 units per month. A potential customer has contacted the firm and offered to purchase 5,000 units this month only at a price of $4.25 per unit. There would be no variable marketing costs incurred on the con..
Determine the tax consequences of the redemption to Tammy and to Broadbill under the following independent circumstances.
How would I figure the monthly quality costs when I use overhead through the basis of direct labor costs? Then what would I do to figure out the quality costs though an ABC system?
Prepare Friday's audit report that was submitted to Kim's board of directors 2011 and 2010 comparative financial statements. Kim is a public company.
Which of the following statements correctly describes the proper accounting for nonmonetary exchanges that are deemed to have commercial substance?
Mary and Bob have been married for 25 years. They are both college professors. Mary makes $65,000 annually and Bob makes $75,000 annually.
Write a short MEMO in IRAC format - Issues, rules, analysis and conclusion. Wheeler purchased two parcels of real property for $10,000 each in Year 1 and held the property for investment.
Which two components of internal control must management assess when reporting on internal control to comply with Section 404 of SOX?
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