Question - On January 1, 20X1, Mighty Entity pays the fair value of $50,000 for a new piece of machinery with an estimated useful life of 8 years. The machine has a drum that must be replaced every four years and costs $ ...
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Question - ELS, an S corporation, reported a business loss of $1,000,000. Ethan, ELS's sole shareholder, is involved in ELS's daily business activities and he reports $1,200,000 of taxable income from sources other than ...
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Question: 1. Company boards, executives, and management are investing more and more time and resources on issues of sustainability - such as carbon (greenhouse gas emissions), energy efficient technology, water use, clea ...
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Question - Pickle Incorporated acquired a $10,000 bond originally issued by its 80%-owned subsidiary on January 2, 2013. The bond was issued in a prior year for $11,250, matures January 1, 2018, and pays 9% interest at D ...
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Question - On March 1, 2017, Boyd Company acquired real estate, on which it planned to construct a small office building, by paying $80,000 in cash. An old warehouse on the property was demolished at a cost of $8,200; th ...
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Question - The following information is available for the 21,000 units of X Company's one product sold in 2017: Selling price $46.00 Variable costs per unit $30.00 Total fixed costs $756,000 In 2018, X Company expects sa ...
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Question: Based on your understanding of financial statement analysis, of the three statements (Income Statement, Balance Sheet, Statement of Cash Flows) which statement do you think is the most important and why? The re ...
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Question: Solve the following questions by using Excel formula. Show me your data 1. If you deposit $20,000 in a bank account that pays 15% interest annually, how much will be in your account after 6 years? 2. If you are ...
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Question - Primo Industries collected $105,000 from customers in 2015. Of the amount collected, $25,000 was for services performed in 2014. In addition, Primo performed services worth $40,000 in 2015, which will not be c ...
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Question - 1. Paid $20,000 cash to purchase equipment costing $80,000. The remaining amount was recognized as a one year note payable with interest rate of 9%. 2. A major dental machine in our office is broken beyond rep ...
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