What amount of gross income must be reported
Life Insurance Proceeds. Don is the beneficiary of a $50,000 insurance policy on the life of his mother, Anna. To date, Anna has paid premiums of $16,000. What amount of gross income must be reported in each of the following cases?
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A business purchased some land for $25,000 for a new business location. The business decides to amortize the loan with 18 quarterly payments at the rate of 7% compounded quarterly. What is the amount of each payment?
Strap Company uses the weighted-average method in its process costing system. The company has only one processing department. The ending work in process inventory consists of 10,000 units.
At January 1, 2009, Farley Co. had a credit balance of $520,000 in its allowance for uncollectible accounts. Based on past experience, 2 percent of Farley's credit sales have been uncollectible.
Santana Rey, owner of Business Solutions, realizes that she needs to begin accounting for bad debts expense. Assume that Business Solutions has total revenues of $44,000.
Life Insurance Proceeds. Don is the beneficiary of a $50,000 insurance policy on the life of his mother, Anna. To date, Anna has paid premiums of $16,000.
What was the company's total revenue during the year ended Dec 31, 2011? 2. What was the amount of dividends declared during the year ended Dec 31, 2011?
Average operating assets are $110,000 and net operating income is $23,100. The company invests $25,000 in new assets for a project that will increase net operating income by $4,750. What is the return on investment (ROI) of the new project.
International grocer corporation has outstanding 20,000 shares of noncumulative, 10 percent, $100 par-value preferred stock and 62,500 shares of no-par-value common stock.During 2010.
What would be the present value of an item that has a salvage value of $25,000 at the end of five years? Assume a discount rate of 3.8% for an end-of-year factor. Carry calculations to four decimal places.
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