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Computer Mary's income or deductions for 2012 using the (1) cash basis and (2) the accrual basis for each of the following: (a.) In May 2012, Mary paid a licence fee of $1200 for the period June 1, 2012 through May 31, 2013. (b) In December 2012, Mary collected $10,000 for January 2013 rents. In January 2013, Mary Collected $2,000 for December 2012 rents. (c) In June 2012, Mary paid $7,200 for an office equipment service contract for the period July 1, 2012 through Dec. 31, 2013. (d) In June 2012, Mary purchased office furniture for $273,000. She paid $131,000 in cash and gave $142,000 interest bearing note for the balance. The office furniture has an MARCS cost recovery period of 7 yrs. Mary did not make the 179 election and elected not to take additional first-year depreciation.
Justify the time it takes to put together a budget for a human resource project. Support your justification by creating a hypothethical example of a human resource project. Relate specific elements of your example to support your justification.
what is the cost of the raw materials requisitioned in June for each of three jobs?
For this information, make appropriate assumptions about cost behavior and assume that direct labor costs vary directly with thenumber of units produced. How many units must the company sell inorder to earn a pretax profit of $500,000?
Determine operating income for 20X7, assuming the firm uses the variable-costing approach to product costing. (Do not prepare a statement.)
Which one of the following statements concerning net working capital is correct?
Complete the income statement through gross profit for the year ended December 31, 2011. (List amounts from largest to smallest eg 10, 5, 3, 2.)
There are 50 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost by (a) the firstin, first-out method, (b) the last-in, first-out method, and (c) the average cost method.
Al is a medical doctor who conducts his practice as a sole proprietor. During 2011, he received cash of $280,000 for medical services. Of the amount collected, $40,000 was for services provided in 2010.
Bass Ltd has recently undertaken a Business Combination with Bream Ltd. At the start of negotiations, Bass Ltd owned 30% of the shares of Bream Ltd
Mary received a liquidating distribution from ABC Corporation as part of the complete liquidation of ABC Corporation. Mary's basis for her ABC Corporation stock was $10,000.
Discuss each request below for a budget revision, putting what you see as both sides of the argument and reach a conclusion as to whether a budget revision should be allowed.
On August 1, it reissued the remaining treasury shares at $49 per share. What is the balance in the Paid-in Capital, Treasury Stock account on August 2?
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