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Question 1 of 4
1. Question
REG3A514
In 2022, Adam had the following capital gains and losses:
Short-term capital loss $5,000 Short-term capital gain $2,000 Short-term capital loss carryover 2022 $500 Long-term capital gain from a property held for 2 years $4,000 Long-term capital loss from a property held for 3 years $5,000 What is the total amount of loss that Adam can deduct in 2022?
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Question 2 of 4
2. Question
BAR1A30012
The standard cost for 5,000 units of a product and 10,000 direct labor hours is as follows:
Standard Cost Description Standard Qty Per Unit Standard Rate Standard Cost Direct materials 4 pounds @ $3 $12 Direct labor 2 hours @ $10 $20 Variable overhead 2 hours @ $8 $16 Fixed overhead $25,000 per 5,000 units $5 Total standard cost per unit $53 The company produced 5,200 units of the product and used 21,000 pounds of direct materials at a cost of $3.10 per pound. What is the direct materials price variance?
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Question 3 of 4
3. Question
This question has been modified.
On June 19, Don Co., a U.S. company, sold and delivered merchandise on a 30-day account to Cologne GmbH, a German corporation, for 100,000 euros. On July 19, Cologne paid Don in full. Relevant currency exchange rates were:
[table1 colalign=”left|right|right”]
; June 19; July 19;
Spot rate; $.988; $.995;
30-day forward rate; $.990; $1.000;
[/table1]
What amount should Don record on June 19 as an account receivable for its sale to Cologne?
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Question 4 of 4
4. Question
What is the entry for buying a new truck for $500?
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