Ms. Fresh bought 1,000 shares of Ibis Corporation stock for $6,300 on January 15, 2017. On December 31, 2019, she sold all 1,000 shares of her Ibis stock for $5,150.
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A company reported annual wages expense of $348,000 and insurance expense of $42,000. During the year, wages payable decreased from an $18,000 beginning balance to a $13,200 ending balance, and prepaid insurance decreased from a $90,000 beginning
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When Padgett Properties LLC was formed, Nova contributed land (value of $200,000 and basis of $50,000) and $100,000 cash, and Oscar contributed cash of $300,000. Both members received a 50% interest in LLC profits and capital.
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