In a Grade 2 classroom the children have come together for a show-and-tell session. The teacher asks Eliza what she has brought and she opens the lid of a large cardboard box and proudly announces it contains a whole cat skeleton that she found under the new house her family had recently moved into. The teacher tries to hold back a shriek, while Ahmed looks […]
The Sweetwater Candy Company would like to buy a new machine that would automatically “dip” chocolates. The dipping operation is currently done largely by hand. The machine the company is considering costs $83,000. The manufacturer estimates that the machine would be usable for nine years but would require the replacement of several key parts at the end of the sixth year. These parts would cost […]
Originally purchased 3 years ago at an installed cost of $400,000, it is being depreciated under MACRS using a 5-year recovery period. The old press has a remaining economic life of 5 years. It can be sold today to net $420,000 before taxes; if it is retained, it can be sold to net $150,000 before taxes at the end of 5 years.Press A: This highly […]
X Co. adopts a plan of complete liquidation and makes the following pro rata distributions to its shareholders (assume all are individuals):A Cash: $70,000; B Inventory: FMV-$20,000 Basis-$20,000 Mortgage-$10,000; C Inventory: FMV-$30,000 Basis-$15,000 Mortgage-$40,000; D Capital Asset: FMV-$500 Basis-$2,800; (Assume that X Co. acquired the property distributed to D in a Sec. 351 transfer 6 months before adopting the plan of liquidation when the FMV […]
Book Title: Prentice Hall’s Federal Taxation I:12-56 At the beginning of the current year, Donna Harp was employed as a cinematographer by Farah Movie, Inc., a motion picture company in Los Angeles, California. In June, she accepted a new job with Ocala Production in Orlando, Florida. Donna is single and her social security number is XXXXX She sold her house in California on August 10 […]
when haven corporation was incorporated in 2009 authorization was obtained to issue 200000 shares of 5 par value common stock and 6000 shares of 8% cumulative preferred stock. the preferred stock has a par vaulue of 100 dollars all the preferred stock was issued at 107 dollars per share and 110000 shares of common stock were sold for 9 dollars per shar the operations of […]
I need help with these sample test questions. Question 1 2.5 pts When a speculator goes short a futures contract, what does the speculator expect will happen to the underlying product price before the position is closed? Price will rise. Price will fall. Flag this Question Question 2 2.5 pts A bank is expected to borrow $1 million for nine months three months from today and is […]
Can I have answers and solutions to these questions, I have answers, I just want to verify to double check Madonna Corporation has the following data: Gross Sales 100,000 Gross profit margin 6.0% Tax rate 40% What is Lone Star’s net income after taxes? Select one: a. 12,000 b. 24,000 c. 3,600 d. 4,500 Britney Co. Statement of Financial Position has Total Assets worth 100,000 […]
Before the UCC and the UCITA, what was one of the first, and most significant, of the U.S. government’s attempts to promote uniformity in commercial laws from state to state? (Hint: think of “commerce” and Constitution).Based on the information presented above, what do you see as the major differences between Article 2 of the Uniform Commercial Code and UCITA?What is the legal distinction between selling […]
Enron View the following video. https://youtu.be/Mi2O1bH8pvw Discuss all of the moral and legal ethical issues in this case. What major piece of legislation came from this fiasco? ****THIS IS JUST A DISCUSSION QUESTION! A PARAGRAPH ANSWERING THE QUESTION DIRECTLY INCLUDING TWO OF THE GIVEN SOURCES ALONG WITH VIDEO WILL SUFFICE*** Course Readings http://www.leetsconsortium.com/articles/CombiningPurposeWithProfits.pdf http://intehttp://www.marketwatch.com/story/businesses-arent-people-they-dont-have-a-conscience-2014-05-02grityconsulting.ca/resources/ethics-prereading/72-can-a-corporation-have-a-conscience Show more
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