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Assume the balance in the lease payable account is now $75,000 after amortizing the final $95,000 payment on the $625,000 capital lease in question 1. If the acutal residual value and the guaranteed residual value are the same, record the return of the guaranteed residual value to the lessor by the lessee at the end of the lease term.
Determine the cost recovery deduction for 2012 for these assets.
Karl pearson coefficient of skewness of distribution is +0.32.its standard deviation is 6.5 and mean is 29.6. Find the mode and median of the distribution.
Sales 380,000 units, estimated ending finished goods inventories for December 31, 2011 are 20,000 units and beginning ending fnished goods at Jan 1, 2011 are 8,000 units.
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 cal..
Write a brief explanation about why the directors' duty to prevent insolvent trading exists and the circumstances and consequences of the 'veil of incorporation' being lifted for insolvent trading.
Determine the amount of depreciation expense for each year using the straight line method. Journalize the depreciation expense entry used by Caribe Company for the end of fiscal year 2005 and 2006.
Record any necessary journal entries in 2010, applying the expense warrenty accrual method.
The president of Jackson Corporation will not receive a bonus next year unless the company's profits are at least $435,000. Jackson sells a single product at a price of $27 per unit. If variable costs are $12 per unit and fixed costs total $150,00..
On June 30, 2011, Georgia-Atlantic, Inc., leased a warehouse facility from Builders, Inc. The lease agreement calls for Georgia-Atlantic to make semiannual lease payments of $562,907 over a three-year lease terms, payable each June 30 and December..
Managing working capital effectively is what keeps good businesses from going bankrupt. So how does management determine the total amount of working capital required?
If 1,000 units remain unsold at the end of the month and sales total $150,000 for the month, what would be the amount of income from operations reported on the absorption costing income statement?
In the current year, Spring Corporation, a closely held personal service corporation, has $120,000 of passive losses, $70,000 of active business income, and $50,000 of portfolio income. How much of the passive loss may Spring deduct in the current..
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