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Zack is a farmer who buys his feed and fertilizer from a farmer's cooperative. In 2011, Zack purchased $300,000 in feed and fertilizer for the farm and $10,000 of household goods. Because the cooperative made a profit in 2011, it distributed to its members 2% of their purchases. Zack received his share of the distribution, $6,200, in March 2012. What is Zack's gross income from the distribution?
Several months ago, Northwest Cover Paint Company experienced a hazardous materials spill at one of its plants. As a result,the Environmental Protection Agency (EPA) fined the company $750,000.
Assuming the maximum period allowable is used for patent amortization, what is Moose's patent amortization expense for 2015?
daja and whitnee had capital balances of 140000 and 160000 respectively at the beginning of the current fiscal year.
The charter of a corporation provides for the issuance of100,000 shares of common stock. Assume that 40,000 shares wereoriginally issued and 5,000 were subsequently reacquired. What is the number of shares outstanding?
High Ridge Merchandising Co. sold inventory that had a cost of $10,000. Assuming High Ridge uses the perpetual inventory method, the effect of the journal entry to record Cost of Goods Sold would:
XYZ plc provides engineering and consultancy services tothe oil and gas industry. Over the past few years, they have incurred expenditure of £1m researchingand developing a new product, the "UniSensor" for which they have registered a patent.
Mr. and Ms.Ostedt have just purchased an $80,000 home and made a 25% down payment. The balance can be amortized at 10% for 25 years.
ABC Company accepted a national credit card for a $2,500 purchase. The cost of the goods sold is $2,000. The credit card company charges a 3% fee. What is the impact of this transaction on net operating income?
Prepare a 350-word memo discussing the factors to consider when choosing accounting software. Be sure to discuss why each factor is important, as well as the risks of not considering each factor.
a single stage window at the post office experiences an average arrival rate of 14 people per hour and can service on
At the bottom of Hart Candy's statement of cash flowswas a separate section entitled "Noncash investing and financing activities." Give three examples of significant noncash transactions that would be reported in this section.
How much taxable income, in total, must the shareholders of the corporation report on their 2010 tax returns?
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