A parcel of land listed at $320,000 recently sold in Wake County North Carolina for $329,560. Its tax value was $247,000 and the buyer put 20% down. What was the amount paid for revenue stamps as shown on the Closing Disclosure? Question 26Select one: a. $528 b. $330 c. $494 d. $660

ASSETS LIABILITIES Total Reserves $3,000,000 Deposits $10,000,000 Loans $7,000,000 Total $10,000,000 Total $10,000,000 (C) What is the maximum amount of money that can be created by this bond transaction?

Slate Corp is a merchandising company that uses the periodic inventory system. Balances Sales 500,000 Purchases 225,000 Inventory (beginning ) 16,000 Inventory (ending) 30,000 Operating expenses 148,000 Income tax expense 10,000 Retained earnings (beginning) 53,000 Dividends 15,000 What is the net income?

1.Mr Adrian own a construction company with an asset worth RM400,000. Adrian proudly told to some of his fellow directors that his revenues were typically RM35,000 per month, while his operating cost for fuel was RM8,000 and maintenance RM5,000 per month. The estimated depreciation was RM10,000 per month. An office space similar to Peter 's office space can be rented for RM15,000 per month. If Peter was working for one of his competing construction companies, he would have earned RM5,000 per month. a.List the items that Adrian would consider to compute his explicit costs. b.List the items that Adrian would consider to compute his implicit costs. c.Compute Adrian monthly total economic cost. d.Should Adrian continue his business? Explain.

Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $1,088,000 and sales for the year total $12,330,000. a. The allowance account before adjustment has a credit balance of $14,700. Bad debt expense is estimated at 1/4 of 1% of sales. b. The allowance account before adjustment has a credit balance of $14,700. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $47,000. c. The allowance account before adjustment has a debit balance of $8,000. Bad debt expense is estimated at 3/4 of 1% of sales. d. The allowance account before adjustment has a debit balance of $8,000. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $66,400. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above. a. $ b. $ C. $ d. $

Give typing answer with explanation and conclusion  Chanveida finds a home listed for $48k. Similar homes in good condition sell for $60k (market value). She buys the home and then sells it. Her adjusted cost basis is $44,000, net sell price is $55,000, and overall tax rate is 30%. Assume no financing is used and there is no depreciation taken. Determine Chanveida's Net Profit from sale.

! Required information [The following information applies to the questions displayed below.] Trading Cards, Incorporation Selected financial information ($ millions) 2020 2021 296 364 168 223 51 65 32 45 34 29 47 87 39 44 310 186 Net sales Cost of goods sold Depreciation Net income Finished goods inventory Accounts receivable Accounts payable Net fixed assets Year-end cash balance 415 123 Financial information for Trading Cards, Inc is given above. How much cash (in millions of dollars) did Trading Cards, Inc. collect from sales during 2021?

Investment-End of Chapter Problem Management at TJX Companies is deciding whether to build a new goods distribution center. The distribution center will cost $60 million to build; the estimated additional first year revenue will be $5 million. The distribution center will last 50 years, with a depreciation rate of 5% per year. The opportunity cost of this investment is predicted to be 7% interest earned. a. What is the present value of the stream of payments resulting from this potential new goods distribution center? Round to the nearest million. $ b. TJX million build the distribution center because the

Which of the following is not considered a current liability? A.Unearned Revenue B.The component of a twenty-year note payable due in year 20 C.Current portion of a noncurrent note payable D.Accounts Payable

7. An asset has an initial cost of $80,000, a salvage value of $10,000, and a depreciation life of 8 years. a) Determine the book value for year 3 using straight-line depreciation. b) Determine the depreciation for year 3 using double declining balance depreciation. Determine the equivalent annual capital recovery_plus a return of 10% for year 3, assuming double declining balance depreciation. c)