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Advanced Equipment leased equipment to Richards Chemical, Inc. on 9/30/11. Advanced purchased the machine from Makers, Inc. at a cost of $6M. The 5-yr lease agreement calls for Richards to make quarterly lease payments of $391,548, payable each 9/30, 12/31, 3/31, and 6/30, with the first payment at 9/30/11. Advanced's implicit interest rate is 12%:1. What pretax amounts would Richards report in its statement of cash flows for the year ended Dec. 31, 2011?2. What pretax amounts would Advanced report in its statement of cash flows for the year ended Dec. 31, 2011?3. Assume Makers manufactured the machine at a cost of $5M and that Richards leased the machine directly from Makers. What pretax amounts would Makers report in its statement of cash flows for the year ended Dec. 31, 2011?
the primary reason for the popularity of lifo is that ita. provides better matching of physical flow and cost flow.b.
On February 12, 6, 000 shares of Lucas Company are acquired at a price of $22 per share plus a $240 brokerage fee. Prepare the journal entries for the original purchase, dividend and sale.
rondello corporation manufactures a single product. the standard cost per unit of product is shown below.direct
Terms of the purchase were FOB shipping point, and the cost of transporting the goods to Rivers Associates' warehouse was $1,800. Rivers Associates insured the shipment at a cost of $300. Prior to putting the goods up for sale, they cleaned and re..
Compute the following ratios. Also, interpret and assess each group of ratios for the company. What type of story are the ratios telling the analyst?
Faye owns the land on which Golden Spurs Ranch is situated, plus the ranch house, barn, and other structures permanently attached to the land. Faye's brother Huey owns everything else in the ranch's operation--livestock, feed, and so on. The perso..
on january 1 2013 nichols corporation granted 10800 options to key executives. each option allows the executive to
Madison Industries is a manufacturer of sweaters. The information for March is as follows: Prepare a production cost worksheet using the weighted-average method. Include any necessary supporting schedules.
you are required to prepare an audit plan for a federal department or agency. you will research and select a federal
A parcel of land is offered for sale at $148,000, is assessed for tax purposes at $110,000, is recognized by its purchasers as being worth $138,000, and is purchased for $135,000. The land should be recorded in the purchaser's books at:
situation 1hatcher cosmetics acquired 10 of the 212200 shares of common stock of ramirez fashion at a total cost of 14
Prepare any necessary journal entries for MBH at December 31, 2006, under the equity method of accounting for investments.
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