Long-term investments that cost the company $25 were sold during the year for $54 and land that cost $53 was sold for $28. in addition, the company declared and paid $22 in cash dividends during the year. besides the sale of land, no other sales or retirements of plant and equipment took place during the year. pavolik did not retire any bonds during the year or issue any new common stock.

True or false: on january 1, year one, the epstein corporation buys a plot of land with a four-story office building. the company believes the building is worth $1.9 million and has an estimated life of twenty years (with no anticipated residual value). the straight-line method is used. the land has an assessed value of $100,000. because the seller was interested in a quick sale, epstein was able to buy this land and building for $1.7 million. depreciation expense to be recognized in year one is $80,750.

Post test question number 9 for entering the job market

Stella company sells only two products, product a and product b. product a product b total selling price $50 $30 variable cost per unit $20 $10 total fixed costs $2,110,000 stella sells two units of product a for each unit it sells of product b. stella faces a tax rate of 40%. stella desires a net afterminustax income of $54,000. the breakeven point in units would be