SWFT Individual Income Taxes
SWFT Individual Income Taxes
42nd Edition
ISBN: 9780357161555
Author: YOUNG
Publisher: Cengage Learning
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Pine Ridge Inc. sells a delivery van on December 31. The van was originally purchased for $60,000, and by the time of sale, it had accumulated depreciation of $48,000. The buyer agrees to purchase the van for $15,000. What is the gain or loss on the sale of the van?
Brightstar Funding pays $110,000 for a receivable. After 45 days, they collect $114,000. What is the rate of return on this factoring investment?
Firoz Company reported a net income of $16,700 on gross sales of $80,000. The company has average total assets of $115,200 of which $100,000 is property, plant, and equipment. What is the company's return on investment?
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