Dec 19, 2020 | Uncategorized
Min invested $18,000 cash in the business.Paid $7,540 cash for monthly rent expense for May.Paid $4,600 cash for this year’s insurance premium beginning immediately.Purchased office supplies for $890 cash.Purchased $12,900 of office equipment on credit (with...
Dec 19, 2020 | Uncategorized
Harry Hopkins graduated from college with a degree in mathematics. During his four years he accumulated $32,000 in student loans. He asked for your help determining the amount of his quarterly loan payments. The loan must be paid back in 10 years and the annual...
Dec 19, 2020 | Uncategorized
The Hampshire Company manufactures umbrellas that sell for $12.50 each. In 2014, the company made and sold 60,000 umbrellas. The company had fixed manufacturing costs of $216,000. It also had fixed costs for administration of $79,525. The per-unit costs of each...
Dec 19, 2020 | Uncategorized
1. What is the purpose of Code Sec. 351 in regard to transfers of corporations?2. What tax years are available to corporations? How do the options differ from other forms of business organizations?3. What are the differences in the treatment of capital gains and...
Dec 19, 2020 | Uncategorized
purchase price is $65 for a part that can be manufactured for $53 per unit; the $53 manufacturing costs include $6 per-unit fixed cost. What is the savings to make rather than to buy?
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