Franco company sold office furniture for $2400 cash. the furniture cost $70, 000 and had accumulated depreciation through the date of sale totaling $32, 000. the company will recognize: select one: a. a gain of $35, 600.b. a loss of $38, 000.c. a loss of $35, 600.d. a gain of $38, 000.

Terry, a self-employed laboratory consultant specializing in white mice, attended a convention in paris concerning the care and feeding of white mice. the convention was held in paris since most of the white mice specialists in the world are located in france. terry's expenses were $1,600 for airfare, $400 for food, and $400 for lodging. terry spent 5 days at the convention and 3 days visiting friends. how much can she deduct for the trip?

Guardian inc. is trying to develop an asset-financing plan. the firm has $450,000 in temporary current assets and $350,000 in permanent current assets. guardian also has $550,000 in fixed assets. assume a tax rate of 40 percent. a. construct two alternative financing plans for guardian. one of the plans should be conservative, with 70 percent of assets financed by long-term sources, and the other should be aggressive, with only 56.25 percent of assets financed by long-term sources. the current interest rate is 12 percent on long-term funds and 7 percent on short-term financing. compute the annual interest payments under each plan.

Neon light company of kansas city ships lamps and lighting appliances throughout the country. ms. neon has determined that through the establishment of local collection centers around the country, she can speed up the collection of payments by one and one-half days. furthermore, the cash management department of her bank has indicated to her that she can defer her payments on her accounts by one-half day without affecting suppliers. the bank has a remote disbursement center in florida. a. if neon light company has $2.90 million per day in collections and $1.18 million per day in disbursements, how many dollars will the cash management system free up?