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The Police Department of Ramser Falls signed a noncancellable lease for computer equipment on January 1, 2012. The lease was for 5 years, the economic life of the property. The fair market value of the equipment (and present value of the minimum rentals) is $ 21,198, and the city incremental borrowing rate is 9 percent. The annual lease payments are $ 5,000 and are due on the first day of the year beginning on January 1, 2012. Assuming the equipment is delivered when the lease is signed, prepare all journal entries necessary to record the lease transaction for 2012 and the payment made in 2013.
abigail corporation produces widgets. in 2008 its first year of operations the company produced 100000 widgets and sold
agassi corp is preparing the comparative financial statements to be included in the annual report to stockholders.
nadell corporation reported the following data for the month of april inventories beginning ending raw materials 30000
In an Excel spreadsheet configured similarly to the journal shown below, prepare year-end adjustments to the following situations. Omit explanations.
if the month-end bank statement shows a balance of 36000 outstanding checks are 10000 a deposit of 4000 was in transit
consider the advantages of performing dual tests. what are some examples of dual tests that you might normally
What method would be most appropriate for calculating the division's return on investment (ROI)? Why? Using this method, what is ROI for the current year?
murray glass company beginning of year retained earnings balance was 113200. the corporation declared and paid 77600
given a normal distribution with ?100 and ? 10 what is the probability that a. x gt 75? b. x lt 70? c. x lt 80 or x gt
kauf industries has just completed its sales forecasts and its marketing department estimates that the company will
assume the inventory in process for february 1 for the packing department included 1200 pounds of cereal in the packing
a system of assigning costs to departments and products on the basis of a variety of activities instead of only one
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