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Pursuit Company leased a machine on July 1, 2014, under a 10-year lease. The economic life of the machine is estimated to be 15 years. Title to the machine passes to Pursuit at the expiration of the lease, and thus, the lease is a capital lease. The lease payments at $97,000 per year, including executory costs of $3,000 per year, all payable in advance annually. The incremental borrowing rate of the company is 9%, and the lessor's implicit interest rate is unknown. Pursuit Company uses the straight-line method of amortization and the calendar year for reporting purposes.
starbucks is a coffee company-a big coffee company. duringa 10-year period the number of starbucks locations grew from
Bullen Inc. acquired 100% of the voting common stock of Vicker Inc. on January 1, 2013. The book value and fair value of Vicker's accounts on that date (prior to creating the combination) follow, along with the book value of Bullen's accounts
brad jolie recently decided to open a restaurant specializing in new orleans cuisine. he purchased a restaurant
pq and r are partners sharing equally. 111. they decided that in future r will get 15 share in profits. on the day of
Why does an intra-entity sale of a depreciable asset require subsequent adjustments to depreciation expense within the consolidation process?
before making its year-end adjustments the net income for barton company was 98000. adjusting entries are necessary for
to add to his growing chain of grocery stores on january 1 2012 danny marks bought a grocery store of a small
patton company purchased 400000 of 10 bonds of scott co. on january 1 2011 paying 376100. the bonds mature january 1
both bond sam and bond dave have 6 percent coupons make semiannual payments and are priced at par value. bond sam has
cooley company has the following informationvariable production costs ----------------- 8 per unitfixed oh producation
the following items could appear on a bank reconciliationa. outstanding checksb. deposits in transitc. nsf checkd. bank
wayne amp compnay inc. a construction equipment manufacturer leased equipment that it manufactured to indiana
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