Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
On December 31, 2010, Graves leased equipment to Garcia for a 4-year period ending December 31, 2014, at which time possession of the leased asset will revert back to Graves. The equipment cost Graves $300,000 and has an expected life of six years. The normal selling price (and fair value) of the equipment is $365,760. The lessee-guaranteed residual value at December 31, 2014, is $25,000. Equal payments under the lease are $100,000 and are due on December 31 each year beginning December 31, 2010. Collectability of all lease payments is reasonably assured, and Graves has no material cost uncertainties. Garcia's incremental borrowing rate is 12% and the interest rate implicit in the lease agreement is 10% (this is known to Garcia). Both Graves and Garcia use straight-line depreciation and have December 31 fiscal year-ends. Describe how Graves calculated the $100,000 annual rental payments.
on june 8, alton co. issued an 80,000, 6%, 120 day note payable to seller co. assume that the fiscal year seller co ends june 30. using the 360 day year in your calculations, what is the amount of interest revenue recognized by seller in following..
Greetings Online disposed of a van that cost $22000 with accumulated depreciation of $15000. The journal entry would be to:
provide an analysis and explanation of the role of the GAO.
Sherman Brothers, Inc., sold 4 million shares in its IPO, at a price of $18.50 per share. Management negotiated a fee (the underwriting spread) of 7% on this transaction.
Show computations to value the ending inventory using the weighted-average cost method if 550 units remain on hand at October 31.
What is the discounted payback period for these cash flows if the initial cost is $23,518? (Do not round your intermediate calculations.)
The following information has been obtained for the Kerdyk Corporation. Compute taxable income and income tax payable for 2007.
Variable manufacturing overhead is applied to products on the basis of standard direct labor-hours. If the direct labor efficiency variance is unfavorable.
Assume that a company purchases land for $1,000,000, paying $400,000 in cash and borrowing the remainder with a long-term notes payable. How should this transaction be reported on a statement of cash flows?
Assuming a 30% tax rate, what amount was deducted for depreciation on the corporation's tax return for the current year?
What is the minimum that partner Morse's creditors would receive if they have filed a claim for $50,000?
Accounting basics Multiple choice questions. Make your selection by recording the letter in the answer box provided.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd