(TCO E) Josh sold a piece of business equipment that had an adjusted basis to him of $50,000. In return for the equipment, Josh received $80,000 cash and a painting with a fair market value of $20,000 from the buyer. The buyer also assumed Josh's $25,000 loan on the equipment. Josh paid $5,000 in se READ MORE »
- Responses: 475
- BComm, Pune University, INdia, 2001
- MBA, Cardiff University. UK, 2004
Blue Corporation acquired controlling ownership of Skyler Corporation on December 31, 20X3, and a consolidated balance sheet was prepared immediately. Partial balance sheet data for the two companies and the consolidated entity at that date is attached.
During 20X3, Blue provided engineering serv READ MORE »
1. The cost of capital reflects the cost of funds
A) over a short-run time period.
B) at a given point in time.
C) over a long-run time period.
D) at current book values.
2. The ________ from the sale of a security are the funds actually received from the sale after ________, or READ MORE »
1. (Monthly compounding) If you bought a $1,000 face value CD that matured in nine months, and which was advertised as paying 9% annual interest, compounded monthly, how much would you receive when you cashed in your CD at maturity?
2. (Annualizing a monthly rate) You credit card statement s READ MORE »
(TCO H) Al and Amy file a joint return for the 2007 tax year. Their adjusted gross income is $80,000. They had net investment income of $9,000. In 2007, they had the following interest expenses: Personal credit card interest $4,000;
Home mortgage interest $8,000; and
Investment interest (on loan READ MORE »