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!
Cleveland Inc. leased a new crane to Abriendo Construction under a 6-year noncancelable contract starting January 1, 2014. Terms of the lease require payments of $33,400 each January 1, starting January 1, 2014. Cleveland will pay insurance, taxes, and maintenance charges on the crane, which has an estimated life of 12 years, a fair value of $302,400, and a cost to Cleveland of $302,400. The estimated fair value of the crane is expected to be $48,400 at the end of the lease term. No bargain-purchase or renewal options are included in the contract. Both Cleveland and Abriendo adjust and close books annually at December 31. Collectibility of the lease payments is reasonably certain, and no uncertainties exist relative to unreimbursable lessor costs. Abriendo's incremental borrowing rate is 11%, and Cleveland's implicit interest rate of 11% is known to Abriendo.
Prepare all the entries related to the lease contract and leased asset for the year 2014 for the lessee and lessor, assuming the following amounts.
The company's management estimates that 2.5% of net credit sales will be uncollectible. Net credit sales are $115,000. What will be the amount of allowance for uncollectible accounts reported on the balance sheet?
a company using activity based pricing marks up the direct cost of goods by 30 plus charges customers for indirect
birchcompany manufactures a part for its production cycle. thecosts per unit for 5000 units of this part are
Projected sales for December, January, and February are $60,000, $85,000 and $95,000, respectively. The February expected cash receipts from all current and prior credit sales is ?
Put Company paid $220,000 for an 80% interest in Sel Company on July 1, 2011, when Sel Company had total equity of $110,000. Sel Company reported earnings of $10,000 for 2011 and declared dividends of $8,000 on November 1, 2011.
the litton company has established standards as follows direct material3 pounds per unit 4 per pound 12 per unit
a company is planning to purchase a machine that will cost 26400 has a six-year life and would be depreciated over a
a tomorrows electronic center began october with 90 units of inventory that cost 70 each. during october the store made
given the following account information for ramos enterprises prepare a balance sheet in report form for the company as
How are equivalent units of production, unit costs, and inventory values determined using the standard costing method of process costing?
konerko inc. expects to earn cash flows of 15023 16833 16101 and 16680 over the next four years. if the company uses an
argus company makes 2 products x and y. product x has a contribution margin of 6.00 per unit and product y has a
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