Archie runs a small mineral exploration business (as a sole proprietorship). In 2016, he purchased land (for $68,000) where he suspected a magnesium deposit was located. He incurred $18,000 of exploration costs related to the development of the magnesium mine in 2016 and an additional $22,000 of exploration costs in 2017. Archie elected to deduct these expenditures for regular tax purposes in both 2016 and 2017. In 2018, given a decline in magnesium prices, Archie chose to sell the property for $66,000, rather than bring the mine to production. What AMT adjustments are required in 2018 related to mine exploration expenditures and the sale of the land

The following information is available for juno company for the month ending june 30, 2019. * balance as per the bank statement is $ 11 comma 000. * balance as per books is $ 10 comma 400. * check #506 for $ 1 comma 200 and check #510 for $ 900 were not shown on the june 30, bank statement. * a deposit in transit of $ 3 comma 346 had not been received by the bank when the bank statement was generated. * a bank debit memo indicated an nsf check for $ 70 written by jane smith to juno company on june 13. * a bank credit memo indicated a note collected by the bank of $ 1 comma 900 and interest revenue of $ 51 on june 20. * the bank statement indicated service charges of $ 35. what is the adjusted book balance?

The treasurer for pittsburgh iron works wishes to use financial futures to hedge her interest rate exposure. she will sell five treasury futures contracts at $139,000 per contract. it is july and the contracts must be closed out in december of this year. long-term interest rates are currently 7.30 percent. if they increase to 9.50 percent, assume the value of the contracts will go down by 20 percent. also if interest rates do increase by 2.2 percent, assume the firm will have additional interest expense on its business loans and other commitments of $149,000. this expense, of course, will be separate from the futures contracts. a. what will be the profit or loss on the futures contract if interest rates increase to 9.50 percent by december when the contract is closed out

12. to produce a textured purée, you would use a/an a. food processor. b. wide-mesh sieve. c. immersion blender d. food mill.