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!
Wadkins Company, a machinery dealer, leased a machine to Romero Corporation on January 1, 2012. The lease is for an 8-year period and requires equal annual payments of $44,305 at the beginning of each year. The first payment is received on January 1, 2012. Wadkins had purchased the machine during 2011 for $172,000. Collectibility of lease payments is reasonably predictable, and no important uncertainties surround the amount of costs yet to be incurred by Wadkins. Wadkins 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 Wadkins at the termination of the lease.
a) 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.) b)Prepare all necessary journal entries for Wadkins for 2012.
gabriel age 40 and edith age 33 are married with two dependents. they had agi of 110000 in 2013 that included net
platypus building inc. won a bid for a new office building contract. below is info from the project accountant total
Under the proportionate consolidation concept, which of the following statements is true?
Following are several December 31 account balances of Brookhaven Square, Inc. prior to the preparation of year-end adjusting journal entries: Briefly describe the nature of the adjusting journal entries for the accounts identified.
Cash dividends of $85,000 were declared during the year. Cash dividends payable were $10,000 and $15,000 at the beginning and end of the year, respectively. The amount of cash for the payment of dividends during the year is ?
marick inc has an unfunded postretirement health care benefit plan. life insurance and medical benefits are provided to
Terrys Pest Control Company for July - Prepare a bank reconciliation
During the current year, Helen donates stock worth $50,000 to her local community college. Two years ago the stock cost Helen $40,000. Her AGI for the current year is $100,000. Beginning next year, the bulk of her income will be from tax-exempt munic..
On January 1, 2013, Roxburgia Company places a commercial storage building in service.
advantage inc. produces two products a and b. last year the overhead costs were allocated based on machine hours. this
What amount of bad debts expense will Hamilton Company report if it uses the direct write-off method of accounting for bad debts?
buse corporation is investigating buying a small used aircraft for the use of its executives. the aircraft would have 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