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Sally became an employee of DotGismo, Inc., a privately held firm. On December 15, 20X3, Sally was allowed to buy 20,000 shares of DotGismo stock for $40,000 dollars. When Sally bought the stock, each share was worth $2. DotGismo retained the right to repurchase each share for $2 original purchase price if Sally leaves DotGismo at any time during the next two years for any reason. DotGismo stock increased to $5 per share in December 15, 20X5, when the two-year restriction ended. Sally sold the stock on January 18, 20X6 for $9 per share, after the announcement of a new patent for DotGismo. Advise Sally roughly how much tax she must pay and for what year(s). Assume Sally is in the 35% tax bracket for ordinary income and 15% for long term capital gains.
DC Construction has two divisions: Remodeling and New Home Construction.
Preparation of income statement using absorption and marginal costing - Evaluate the unit product cost using absorption costing and Rework the income statement using absorption costing
A company can sell all the units it can produce of either Product A or Product B but not both. Product A has a unit contribution margin of $16 and takes two machine hours to make and Product B has a unit contribution margin of $30 and takes three mac..
suppose you could pay a finder fee to a personal shopper 1 mechanic who will find you a plum at a price of 4,500. The maximum you are willing to pay as a finder fee is.
Your machine operator is becoming more productive, and generates additional profit each year. You expect to receive $20,000 in profit at the end of this year, but this will increase 5% a year for the next 10 years. If you have an 8% interest rate on ..
A firm has a capital structure that is half debt and half common equity and totals $120,000,000.
After a 5% reduction, you purchase a new digital player for $190. What was the price of the digital player before the reduction? First write an equation you can use to answer this question. Use x as your variable and express any percents in decimal f..
Jolly Company uses the FIFO method in its process costing system. Beginning stock in the mixing processing centre consisted of 4,000 units, 75% complete with respect to conversion costs. Ending work in process stock consisted of 3,000 units, 60% comp..
Compute the predetermined overhead rate. - Compute how much overhead would be applied to jobs during the period.
Determine pension expense to be reported on the income statement for 2010. Show all computations. Round all Computations to nearest dollar.
Woodland Industries manufactures and sells custom made windows.
Under the accrual basis of accounting, expenses are reported in the accounting period when the - Resources owned by a company (such as cash, accounts receivable, vehicles) are reported on the balance sheet and are referred to as. A typical entry in t..
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