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Based upon the following facts of Fred, Inc., calculate adjusted current earnings

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Based upon the following facts of Fred, Inc., calculate adjusted current earnings (ACE);Alternative minimum taxable income (AMTI) $7,220,000;Municipal bond interest 630,000;Expenses related to municipal bonds 61,000;Key employee life insurance proceeds in excess of cash surrender value 2,000,000;Increase in LIFO recapture amount 170,000;Organization expense amortization 200,000;Cost of goods sold 4,922,000;Advertising expenses 631,000;Loss between related parties 230,000;Life insurance premiums paid on key person policy 310,000;Administrative expenses 521,014

 

Paper#25203 | Written in 18-Jul-2015

Price : $27
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