Compute a schedule of deductible expenses related to the following hobby: Income-$23,000Mortgage interest and property taxes allocable to hobby-$12,000Depreciation-$4,000Supplies and fees-$7,000Telephone for hobby-$3,000
Progressive Tech Corporation incurred research and development costs of $190,000 and legal fees of $54,000 to acquire a patent. The patent has a legal life of 20 years and a useful life of 15 years. What amount should Progressive record…
Samco Manufacturing has always purchased a certain component part from a supplier on the East Coast for $50 per part. The supplier is reliable and has maintained the same price structure for years. Recent improvements in operations and reduced product…
Last year Mike bought 100 shares of Dallas Corporation common stock for $53 per share. During the year he received dividends of $1.45 per share. The stock is currently selling for $60 per share. What rate of return did Mike…
Earnings per share for 2010 had been 22.8 pence, and Andrew Osborne expects this to increase to 25 pence per share for 2011. He states that this increase in earnings per share is in line with market expectations of the…
You are considering an investment in either individual stocks or a portfolio of stocks. The two stocks you are researching, stocks A and B, have the following historical returns:Year a b2009 -20.00% -5.00%2010 42 152011 20 -132012 -8 502013 25…
You’ve collected the following information about Odyssey, Inc.: Sales $ 210,000Net income $ 14,400Dividends $ 9,200Total debt $ 84,000Total equity $ 64,000 What is the sustainable growth rate for the company? (Do not round intermediate calculations. Round your answer to…
The Booth Company’s sales are forecasted to double from $1,000 in 2010 to $2,000 in 2011. Here is the December 31, 2010, balance sheet.Cash $100 Accounts payable $50Accounts receivable $200 Notes payable $150Inventories $200 Accurals $50Net Fixed Assets $500 Long-term…
Computation of amount of phenol red in micrograms present in 3ml of the solution, you will require to use the given data: the concentration of the unknown 5.0 micromoles, volume = 3ml, MW of phenol red = 376.4g.
One year ago, you purchased 400 shares of Analog Devices, Inc. stock for $13.95 a share. You received a total of $120 in dividends and sold the stock for $7,072 today. What is your capital gains yield on this stock?…
