A customer buys a municipal bond in the secondary market at 96 that has 4 years to maturity. Two years later, the customer sells the bond at 99. The tax consequences of this investment are:

Floors n' More, Inc., hires Gordon to renovate Floors n' Mores showroom. Gordon submits plans that Floors n' More approves. Gordon completes the major reconstruction, paints the interior, and buys the fixtures and furnishings.

Saturn Corporation has 13,000 shares of 14 %, $ 81 par noncumulative preferred stock outstanding and 26,000 shares of nominuspar common stock outstanding. At the end of the current year, the corporation declares a dividend of $ 197,000.

Andy Grove, former CEO and cofounder of Intel, encouraged openness by not having many of the trappings of success. This is an example of evolving from boundaries to rewards and culture by Group of answer choices

It is possible to have a secured real estate loan without a mortgage through the use of a contract for deed.

On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $74,600 and $3,700, respectively. During the year Kincaid reported $208,000 of credit sales.

In year 1, the Consumer Price Index was 120 and the average nominal income was $30,000. In year 2, the Consumer Price Index was 125 and the average nominal level of income was $32,000. What happened to real income from year 1 to year 2?

Coral Think Inc. is a new company in the publishing industry. It has raised sufficient capital from multiple sources. It is planning to use its capital to purchase certain assets.

During July at Loeb Corporation, $83,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $4,000.

The partnership agreement of E Smith and N Patel state that Smith receives 30% and Patel 70% of partnership income and losses. The partnership net income is $100,000 and is allocated to the partners when the income summary account is closed.

What causes changes from one phase of the business cycle to another?