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Questions -
Q1. A company is replacing an old machine with a new one. This old machine is being sold for $200,000 and has a value of $50,000. The tax rate for the firm is 40%. What are the net proceeds from the sale of this old machine?
A. $50,000
B. $140,000
C. $150,000
D. $260,000
Q2. Financial data associated with a company is listed below
Sales $1,350,000
Variable costs $375,000
Fixed costs $450,000
Interest expense $123,000
Depreciation Expense $0
What is this company's degree of financial leverage?
A. 1.0
B. 1.1
C. 1.2
D. 1.3
Revenues, gains, and investments by owners are all increases in net assets. What are the distinctions among them?
On September 1, 2014, Halley Co. issued a note payable to Fidelity Bank in the amount of $1,800,000, bearing interest at 10%, and payable in three equal.
Land was revalued upwards during the year by $45,000 for the year. Calculate the ending balance of shareholders' equity using the information
The following information relates to Harris Corporation. What is the acid-test ratio for the current year? What is the inventory turnover for the current year
Allowance for Doubtful Accounts, $10,000; Merchandise Inventory, $20,00, Prepare a partial balance sheet
The Coffman Investment Group wants to invest capital in the recycle industry. We are a for-profit-company. Can a recycled product find a market?
Beige's earnings and profits are $300,000. Beige redeems 200 of Lois' shares for $100,000. Determine the amount of Lois' recognized gain (1) if she is Sam's mother and (2) if they are unrelated.
prepare the following budgets and other financial information as required. sales budget production budget raw
Set up T accounts for Cash, Unearned Ticket Revenue, and Ticket Revenue - Sold 1,200 season tickets at $400 each, receiving cash of $480,000
On January 1, 2018, Stoops Entertainment purchases a building for $420,000, Record the purchase of the building on January 1, 2018
What would your answer be if, instead of a refinancing at the date of issuance of the financial statements, a financing agreement existed at that date?
Prepare the journal entries on the books of Castle Leasing to reflect the payments received under the lease and to recognize income for the years 2014 and 2015
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