Chapter 18, Problem 18BE

What were its actual sales for the year on these financial accounting question?

Accounting questions answer

Lucas purchased a stock for $55.32 per share and sold it one year later for $57.01 per share. He also received a dividend of $1.45 per share. What was his capital gains yield? Accounting

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General accounting question

Olivia, single and age 58, sold her home for $485,000 after living there for 10 years. Her selling expenses were $9,000 and her adjusted basis in the home was $200,000. What is the maximum gain that Olivia must report in connection with the sale of her principal residence? a) $26,000 b) $0 c) $285,000 d) $276,000

Lumen Products, which uses the high-low method, had total costs of $32,000 at its lowest level of activity when 6,000 units were sold. At its highest level of activity, total costs were $50,000 when 11,000 units were sold. Lumen would estimate fixed costs as _.

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