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You manage a real estate investment company. One year ago, the company purchased 10 parcels of land distributed throughout the community for $10 million each. A recent appraisal of the properties indicates that five of the parcels are now worth $8 million each, while the other five are worth $16 million each. Ignoring any income received from the properties and any taxes paid over the year, calculate the investment company's accounting earnings and its economic earnings in each of the following cases: a. The company sells all of the properties at their appraised values today. b. The company sells none of the properties c. The company sells the properties that have fallen in value and keeps the others d. The company sells the properties that have risen in value and keeps the others e. After returning from a property management seminar, an employee recommends the company adopt an end-of-year policy of always selling properties that have risen in value since purchase, and always retaining properties that have fallen in value. The employee explains that with this policy the company will never show a loss on its real estate investment activities. Do you agree with the employee? Why or why not?
The bonds are sold on november 1, 2011 at 13 plus accrued interest. amortization was recorded when interest was received by the straight-line method. prepare all entries required to properly record the sale.
panamint systems corporation is estimating activity costs associated with producing disk drives tapes drives and wire
1.Suppose Friedman's made a sale on account for $5000 in February. The customer would be expected to make monthly payments (principal and interest) of $350/month for 18 months. Write the journal entry to record this transaction.
The chosen company is Apple Inc. The purpose of the comprehensive project is to use resources available to obtain industry averages for commonly used ratios. Additionally you will compare company ratio results to industry averages
on january 1 2011 morrison inc. bought some equipment by signing a non-interest-bearing note for 160000. the note is to
An employee received a paycheck from her employer in the amount of $776.35. The pay-check stub indicated that in calculating her $776.35 net pay, $139.75 had been withheld for federal income tax, $34.25 for state income tax, and $74. 65 for FICA. ..
legacy company is considering the production and sale of a new product with the following sales and cost data unit
An art dealer sold two artworks at $1520 thereby making a profit of 25% on the first work and 10% on the second, where as if he had approached any exhibition he would have sold them together for $1535 with a profit of 10% on the first and 25% on t..
Calculate the amount to be debited or credited for equipment during the preparation of the 2008 consolidated financial statements.
sprint manufacturing company produces two products x and y. the following information is presented for both products x
the lansing community college registrars office is considering replacing some canon copiers with faster copiers
Prepare the journal entry to record the first semiannual interest payment and amortization of any discount or premium assuming it uses the straight-line method.
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