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Problem 7-14
Modified Accelerated Cost Recovery System (MACRS), Listed Property, Limitation on Depreciation of Luxury Automobi...

At the beginning of the year, a firm had total assets of $360,000, current liabilities of $28,700, and total equity of $229,000. At the end of the year, the total assets were $411,000, current liab...

Consider the following abbreviated financial statements for Cabo Wabo, Inc.:
  

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Graffiti Advertising, Inc., reported the following financial statements for the last two years. 2016 Income Statement Sales $ 574,200 Costs of goods sold 273,935 Selling and administrative 124,715 ...

The market value of the equity of Ginger, Inc., is $670,000. The balance sheet shows $42,400 in cash and $216,200 in debt, while the income statement has EBIT of $99,200 and a total of $155,400 in ...

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