Kuong Inc. sold a commercial office building used in the corporate business for $1.5 million. Kuong purchased the building in 2000 for a cost of $1.4 million and had deducted $538,000 MACRS depreciation through date of sale. Kuong should characterize the $638,000 gain recognized on sale as: a. $127,600 ordinary gain and $510,400 Section
b. 1231 gain $538,000 ordinary gain and $100,000 Section 1231 gain
c. $107,600 ordinary gain and $530,400 Section 1231 gain
d. Section 1231 gain

The sec has historically raised questions regarding the independence of firms that derive a significant portion of their total revenues from one audit client or group of clients because the sec staff believes this situation causes cpa firms to

Horace society is planning its annual western fair raceway gala. the gala committee has assembled the following expected costs for the event: dinner (per person) $10 gaming token and program (per person) $2 prize payouts $4,300 tickets and advertising $800 private box suite rental $1,700 lottery licenses $200 the committee members would like to charge $40 per person for the evening’s activities.required: 1. what is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. assume that last year only 200 persons attended the dinner-dance. if the same number attend this year, what price per ticket must be charged in order to break even? 3. refer to the original data ($40 ticket price per person). prepare a cvp graph for the dinner- dance from zero tickets up to 600 tickets sold.

Awork system has five stations that have process times of 5, 9, 4, 9, and 8. what is the throughput time of the system? a. 7b. 4c. 18d. 35e. 9