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In which of the following situations is specific performance available as a remedy?
a. Mary and Anne enter into a written agreement under which Mary agrees to sell and Anne agrees to buy for $100 per share one hundred shares of the three hundred shares outstanding of the capital stock of the Infinitesimal Steel Corporation, whose shares are not listed on any exchange and are closely held. Mary refuses to deliver when tendered the $10,000.
b. Modifying (a) above, assume that the subject matter of the agreement is stock of the United States Steel Corporation, which is traded on the New York Stock Exchange.
c. Modifying (a) above, assume that the subject matter of the agreement is undeveloped farmland of little commercial value.
How much of Joe's bonus might the IRS re-characterize as a dividend Supposing the IRS re-characterizes $200,000 of Joe's bonus as a dividend, what additional income tax liability does Nittany Company face
Montoini Company purchases equipment on January 1, year 1, at a cost of $469,000. The asset is expected to have a service life of 12 years and a salvage value of $40,000. Compute amount of depreciation for each of years 1 through 3 using the strai..
he processing run results in a payroll register, employee paychecks and earning statements, and an error summary report, all on magnetic tape. Prepare a system flowchart of the company’s payroll process.
question 1describe at least 3 ways that factors in the external environment influence employee behaviour. if you were
Prepare an income statement and a balance sheet for the toy business as at June 30.
Compute the estimated cost of the ending inventory for each department under the retail inventory method. (Round computations and final answers to 0 decimal places, e.g. 125.)
Advise FVS what income is derived and when and what tax consequences follow on default - What is the tax treatment of the trading stock the subject of a lay-by
According to the new requirement, the company should record an expense $50,000 for 2005 and $50,000 for 2006. During 2008, all options are exercised. Illustrate what is the effect of the free cash flows for 2005?
If the costs per equivalent unit are $2.50 and $4.50 for direct material and conversion, respectively, what is the cost of ending inventory? What is the cost of abnormal loss? How is this cost treated in May
General Electric is considering introducing a new toaster into the market. The toaster is targeted towards interior decorators as opposed to end consumers. As such, there are 3,000 decorators that are relevant to this project. On average, each decora..
Would you expect management to worry about attitudinal surveys, such as the one described in Headline below. Explain you answer, as well explaining how such surveys might impact on the disclosure policies of an organisation.
question wilkens company wants to evaluate the cost behavior pattern of maintenance costs. wilkens has decided to use
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