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Setting price for the business

Charlie and Maribelle Brown have owned and operated a retail furniture store for more than 20 years. They have employed an independent CPA during this time to prepare various sales tax, payroll tax, and income tax returns, as well as financial statements for themselves and the bank from which they borrowed money from time to time.They are considering selling the store but are uncertain about how to establish an asking price. What type of information is included in the material prepared by the CPA that may help the Browns establish an asking price for the store?

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Charlie and Maribelle Brown have owned and operated a retail furniture store for more than 20 years. They have employed an independent CPA during this time to prepare various sales tax, payroll tax, and income tax returns, as well as financial statements for themselves and the bank from which they borrowed money from time to time.They are considering selling the store but are uncertain about how to establish an asking price. What type of information is included in the material prepared by the CPA that may help the Browns establish an asking price for the store?

Charlie and Maribelle ...

Solution Summary

The answer contains the advantages of employing CPA firm for preparation of income tax return, sales tax return and pay roll tax while setting the price for business.

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