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Crosley Company, a machinery dealer, leased a machine to Dexter Corporation on January 1, 2014. The lease is for an 10-year period and requires equal annual payments of $37,579 at the beginning of each year. The first payment is received on January 1, 2014. Crosley had purchased the machine during 2013 for $162,000. Collectibility of lease payments is reasonably predictable, and no important uncertainties surround the amount of costs yet to be incurred by Crosley. Crosley set the annual rental to ensure an 10% rate of return. The machine has an economic life of 10 years with no residual value and reverts to Crosley at the termination of the lease.
Compute the amount of the lease receivable. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 58,971.)
The amount of the lease receivable $
The general manager of Qantas had two concerns: the company's worsening cash position ($3000 cash and No bank loan at the end of 2011, No cash and a $7,000 bank loan at the end of 2012) and an inadequate level of net profit. (According to General ..
Sales for December total 12,000 units. Each month's unit sales are expected to exceed the prior month's results by 5%. The product's selling price is $15 per unit.
The financial statements of Danielle Manufacturing Company report net sales of $750,000 and accounts receivable. What is the accounts receivable turnover for Danielle?
What are the two main methods to account for uncollectible receivables? Who are the two parties to a Promissory Note? How do we mathematically calculate interest? How does one calculate "Accounts Receivable Turnover"?
In each case, how does the company measure the transaction? What measurement attribute is used? Identify the account affected and use plus and minus signs to indicate the increases and decreases in the specific element of the balance sheet.
net cash used-$438,000 of net cash provided-$264,000 of net cash used.
If $3,000 has been earned by a company’s workers since the last payday in an accounting period, the necessary adjusting entry would be: Debit an expense and credit a liability. Debit an expense and credit an asset.
How many students are needed in order to achieve breakeven. - How many classes need to be taught in order to achieve breakeven.
for the bakfirn corporation an accounting audit of accounts payable vendor invoices and inventory material acceptance
theory question based on revenue recognition principle.many companies sell products allowing their customers the right
Find the probability that the total weight of passengers on the ferry will exceed 4,250 pounds.
what would the effective annual rate on this loan be and what is Carroll's average collection period
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