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Simons Corp has unadjusted net income from continuing operations before tax of $168,000 before the following items were entered in the accounting records in 2013:1. Unrealized gains on an avilable-for-sale investment portfolio of $34,5002. A loss from an earthquake of $450,000 and gain from insurance proceeds of $250,000. Siimons has never suffered an earthquake before and it is not located on a faultline.3. A loss from a discontinued depratment of $165,000 and a gain of $70,000 from selling the department.4. Restructuring costs of $45,000.5. Depreciation of $50,000 and amortization of $30,000.6. A realized gain of $82,000 from securites sold out of the investment account.Please prepare an income statement with a proper heading starting with income from continuing operations for Simons in 2013. There tax rate is 30%.
A portfolio consists of the following three assets A, B and C. (a) Assuming a risk-free rate of 5.85 per cent and an expected return on the market of 13.60 per cent, calculate t
Application of discharge Application may be made at any time after adjudication, but cannot be heard until the conclusion of the public examination. Notice of the hearing must
Allied Managed Care Company is evaluating two different computer systems for handling provider claims. There are no incremental revenues attached to the projects, so the decision
For each of the ratios listed below, indicate by the appropriate code letter, whether itis a liquidity ratio, a profitability ratio, or a solvency ratio. Code: L=Liquidity rati
Compute the present value of Rs. 1000 receivable 6 years thus if the discount rate is 10 percent. Solution: The present value is computed as follows: PV kn = FV n . PVIF k,n
ADVANCEMENT Trustees may apply not more than half of the presumptive or vested share of the capital held in trust for any person (infant or adult) for his advancement or ben
At current the working capital cycle is Receivables days $0.4m/$10m * 365 = 15 days Inventory days $0.7m/$8m * 365 = 32 days (cost of sales = $10m - $2m) Payables days $1.
I need extra help with receivable turnover, days'' sales uncollected, and bank reconciliation.
The non current asset section of Aadil & Co. at December 31, 2005 is as under:- Land Rs. 1,000,000 Office equipment Rs. 5,000,000 Less: accumulated depreciation 250,000 4,75
An investment under consideration has a payback of seven years and a cost of $724,000. If the required return is 12 percent, what is the worst-case NPV? The best-case NPV? Explain.
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