A property is sold for $5,100,000 with selling costs of 3% of the sales price. The mortgage balance at the time of sale is $3,600,000. The property was purchased 5 years ago for $4,820,000. Annual depreciation allowances of $153,016 have been taken. If the tax rate is 28%, what is the after-tax cash flow from the sale of the property

The following accounts appeared in recent financial statements of delta air lines. identify each account as either a balance sheet account or an income statement account. for each balance sheet account, identify it as an asset, a liability, or stockholders' equity. for each income statement account, identify it as a revenue or an expense. item financial statement type of account accounts payable balance sheet advanced payments for equipment balance sheet air traffic liability balance sheet aircraft fuel (expense) income statement aircraft maintenance (expense) income statement aircraft rent (expense) income statement cargo revenue income statement cash balance sheet contract carrier arrangements (expense) income statement flight equipment balance sheet frequent flyer (obligations) balance sheet fuel inventory balance sheet landing fees (expense) income statement parts and supplies inventories balance sheet passenger commissions (expense) income statement passenger revenue income statement prepaid expenses income statement taxes payable balance sheet

Which of the following statements about cash basis accounting is true? a. it is more complicated than accrual basis accounting. b. the irs allows all types of corporations to use it. c. it follows gaap standards. d. it ensures the company always knows how much cash flow it has.

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided