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Tre entered into a three-year lease of a luxury automobile on january 1, 2019, for use 80% in business and 20% for personal use. the fmv of the automobile at the inception of the lease was 61,000 and troy made 12 month lease payments of 900 in 2019 and 2020
Question 1: What amount of lease payments are deductible in 2019 and 2020?
Question 2: What portion, if any, of the inclusion amount must reduce Tre's lease deduction in 2019 and 2020?
Question 3: How would your answers to part a and b change if the fmv of the auto was 15,000 and the monthly lease payment are 200?
Net income was $465,000. Use the above information to determine cash flows from financing activities. In a statement of cash flows
Insurance Settlement Proceeds The Company reached a payment with its insurance carrier related to the damage from the hurricane and received proceeds of $15 million from its insurance carrier in connection with its claim for reimbursement
The internal rate of return is:
Marvel Company provided the following information relating to cash payments. Prepare a schedule of cash payments for Marvel Company for the month of August.
Heath Mining Company acquired a mine in 2016. Capitalized costs of the minerals were $6,000,000. The company mined 260,000 tons of ore in 2016 and on December 31, 2016, it is estimated that 3,000,000 tons of ore remained in the ground. Compute the am..
On December 31, 2014, Lender Company entered into a debt restructuring agreement with Borrower Company, which is now experiencing financial trouble. Borrower has made all interest payments required through the date of the restructuring, makes all res..
Discuss the types of economic decisions that they will be required to make, and the information that they will need to make those decisions.
Describes securities in portfolio, including a description of historical information for each firm. Calculates a quarterly and annualized return on portfolio.
Your client, Danyleyko Leasing Com-pany, is preparing a contract to lease a machine to Souvenirs Corporation for a period of 25 years.
It can be argued that whether a company pays or does not pay dividends; it is irrelevant to the value of the firm. State some of those arguments do you concur with these arguments or do you disagree?
Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. (Do not round interim calculations. Round per unit costs to three decimals. Round your answers to the nearest dollar amount.)
Should this project be? accepted? Why or why? not? Calculate the IRR. The initial outlay would be ?$11 comma 500,000? and the project would generate cash flows
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