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Bonnie did elect not to take additional first-year depreciation. Determine the cost recovery deduction for 2010 for these assets.
James purchased a new business asset (three-year) on July 23, 2010, at a cost of $50,000. He did not elect to expense any of the asset under § 179, nor did he elect straight-line cost recovery.
On May 30, 2010, Jane signed a 20-year lease on a factory building to use for her business. The lease begins on June 1, 2010. In August of 2010, Jane paid $100,000 for leasehold improvements to the
calculate fixed, variable costs and break even point for Revenue Grant Income $617,169.00 Customer Fees $506,788.00 Other $39,567.00 Interest $1,541.00
What is Bank of America Corporation's percentage of the accounts receivable balance to total assets for the last two years? If the ratio percentage has changed what accounts for the change?
Briefly discuss the operating performance and financial position of Sepracor. Industry averages for these ratios in 2007 were: ROA 3.5%; return on equity 16%; and debt to assets 75%. Based on this a
On January 1, 2006, Powell Company purchased a building and machinery that have the following useful lives, salvage value, and costs.
Compute the estimated cost of the ending inventory for each department under the retail inventory method.
A company has a minimum required rate of return of 9% and is considering investing in a project that costs $50,000 and is expected to generate cash inflows of $20,000 at the end of each year for 3 y
Peter, age 67, and Lois, age 66, file a joint return and have adjusted gross income of $89,000. They have charitable contributions of $2,500; deductible taxes of $4,000 and deductible mortgage inter
What amount of accrued interest payable should B report in its September 30, 2009, balance sheet?
Garnishes, inc has sales for the year of $46,300 and cost of goods sold of $21,700. the firm carries an average inventory of $4,800 and has an average accounts payable balance of $4.400. what is the
how much interest income is recognized by the investor in 2009 (assume annual interest payments and amortization)?
Lopez Company began operations in 2006. Since then, it has reported the following gains and losses for its investments in trading securities on the income statement:
Jenny's has annual sales of $367,200 and cost of goods sold of $198,600. the average accounts receivable balance is $16.400. how many days on average does it take the firm to collect its accounts re
06/12/09 Declared a ten percent (10%) stock dividend,payable on 7/15/09( ignore the date of record for this event).
Cookies and more has 8,000 shares of stock outstanding at a market price of $13.60 per share. what will the price per share be after the firm declares a 10 percent stock dividend? Ignore taxes and m
Espinola Corporation's most recent balance sheet and income statement appear below: Required compute the following for 2006 : a. Gross margin percentage. b. Earnings per share (of co
The preferred stock of pollard's pools pays an annual dividend of $5.50 a share and sells for $42 a share. The tax rate is 34 percent. What is the firm's cost of preferred stock?
The 7.5 percent preferred stock of tanners floors is selling for $57 a share. What is the firm's cost of preferred stock if the tax rate is 35 percent and the par value per share is $100?
What should Quinn report on its 2004 income statement as a result of the increase in fair value of the investments in 2004?
If the selling price per unit were to drop $2, from $100 to $98, the sales volume were to increase 500 units to 4,500 units per month, and advertising expense were to increase by $1,000:
On January 1, 2010, Fabian Enterprises issued 9%, 10-year bonds with a face amount of $900,000 at 96. Interest is payable semiannually on June 30 and December 31. The bonds were issued for an effect
Prepare a schedule which shows the balance in the Securities Fair Value Adjustment (Trading) at December 31, 2008 (after the adjusting entry for 2008 is made).
Gamma Ray Corp. has annual sales totaling $975,000 and an average gross profit of 20% of cost. What is the dollar amount of the gross profit?