On february 1, year 5, hall learned that he was bequeathed 500 shares of common stock under his father’s will. hall’s father had paid $2,500 for the stock in year 1. fair market value of the stock on february 1, year 5, the date of his father’s death, was $4,000 and had increased to $5,500 6 months later. the executor of the estate elected the alternate valuation date for estate tax purposes. hall sold the stock for $4,500 on june 1, year 5, the date that the executor distributed the stock to him. how much income should hall include in his year 5 individual income tax return for the inheritance of the 500 shares of stock that he received from his father’s estate?

Required prepare the necessary adjusting entries in the general journal as of december 31, assuming the following: on september 1, the company entered into a prepaid equipment maintenance contract. birch company paid $3,400 to cover maintenance service for six months, beginning september 1. the payment was debited to prepaid maintenance. supplies on hand at december 31 are $3,900. unearned commission fees at december 31 are $7,000. commission fees earned but not yet billed at december 31 are $3,500. (note: debit fees receivable.) birch company's lease calls for rent of $1,600 per month payable on the first of each month, plus an annual amount equal to 1% of annual commissions earned. this additional rent is payable on january 10 of the following year. (note: be sure to use the adjusted amount of commissions earned in computing the additional rent.)

Hank itzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. the following are required for production of a 70-gallon batch. 2,700 ounces of grape concentrate at $0.04 per ounce 77 pounds of granulated sugar at $0.43 per pound 133 lemons at $0.79 each 350 yeast tablets at $0.24 each 350 nutrient tablets at $0.14 each 2,500 ounces of water at $0.001 per ounce hank estimates that 4% of the grape concentrate is wasted, 9% of the sugar is lost, and 32% of the lemons cannot be used. compute the standard cost of the ingredients for one gallon of wine. (round intermediate calculations and final answer to 2 decimal places, e.g.

Suppose you manage an upscale restaurant in new york city. would involve writing employee schedules and a list of things to do for the chef and other kitchen staff