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Justin and Rachel want to open a restaurant. They contribute $3,000 each for a survey to locate an appropriate area for their restaurant and $2,000 each for a real estate agent to locate a suitable building for them to buy. Shortly after this, Rachel and Justin have a disagreement and Rachel walks away from the plan. Although she asks Justin to reimburse her, he refuses. Justin then continues the project on his own. He spends $6,000 for legal and accounting fees to set the business up and $9,000 for staff training. What are the tax consequences to Justin for these expenditures when the restaurant opens in July? For Rachel?
Calculation of Time period when the company should harvest the forest analyzing the pros and cons.
Evaluation of various ratios from the given financial statements and The condensed financial statements of Westward Corporation for 2006 are presented
The video mentions several skills you need in order to be successful in pursuing a career in finance. Explain how would you advise your client assuming a 10% discount rate?
Evaluate the amount of desired profit from the production and sale of Product T. and evaluate the total variable costs for the production and sale of 75,000 units of Product T.
If martin's contributions to plan had been $25000 instead of $48000 how much taxable income would he have to report in2011 from plan distribution?
Eighty percent of the premium applies to manufacturing operations and 20% applies to selling and administrative activities. Illustrate what amounts should be considered product and period costs respectively for the first year of coverage?
Describe the defenses the company could maybe assert against this third party's lawsuit. Include in your explanation the applicability of these legal defenses to the facts of this particular case.
liam corporation has a single product value whose selling price is $140 and whose variable cost is $60 per unit. the monthly fixed expense is $40,000. Solve for the unit sales that are required to earn a target profit of $6,000.
During August, the company incurs 2,370 hours of direct labor at an hourly cost of $13.65 per hour in making 1,000 units of finished product. Compute the total, price, and quantity labor variances
What is amount of outstanding checks at the end of May - wrote checks in the amount of $37,000. In June, checks in amount of $50,632 were written.
Discuss how a company can use intercompany transactions to manipulate corporate earnings. Evaluate how the company has treated its intercompany transactions and whether or not you agree with this treatment. Explain.
the rental cost for a large bus is800 and 600 for the small bus compute how many buses of each type should be used for the trip for the least possible cost
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