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Question - Jack purchased a new house 3 years ago. The purchase price were the following;
Purchase price $280000
Title fees 700
Recording fees 300
Survey fee 1,000
Appraisal fees 250
Escrow fees 500
Additional renovation 27,000
His home office expense 3,000
What is Jacks adjusted basis in the house?
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A company declared a cash dividend on its common stock in December 2010, payable in January 2011.
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Assume 1,200 hours were used the first year and 2,250, the second year. What is the first-year depreciation for straight-line (SL)
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On March 6, Churchill Company returned $120,000 of the merchandise purchased on March 2. The cost of the returned merchandise was $90,000.
Property, plant and equipment 210,000. Long-term liabilities 85,000. What is the inventory turnover for this company
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