User Account

All Pages

Compute the fair value rounded off of the leased asset

Assignment Help Accounting Basics
Reference no: EM132690263

Fitbit Ltd has leased a machine on the following terms: Date of entering lease 1 July 2019

Duration of lease 5 years

Life of asset 6 years

Unguaranteed residual value $40,000

Lease payments inception (at the start) $60,000

Annual payments (5) $65,000

Implied rate 11.0 %

Required:

Problem 1: Determine the Fair Value (rounded off) of the leased asset.

Reference no: EM132690263

Questions Cloud

Determine these three values for operations in year : A corporation wishes to establish, Determine these three values for operations in year 1: Net equity flow, the return on equity, the return of equity.
Compute how will auditor adjust the substantive procedures : Auditor has concerns about whether the policy is adhered to. What might cause such concerns and how will the auditor adjust the substantive procedures
Demonstrate the audit objectives for property : Demonstrate the audit objectives (assertions) for 'Property, plant and equipment', and indicate the main substantive tests relating to each.
Compute what would the entry be to record the employee : Dainty Ltd, Assuming that PAYG tax is deducted at 30%, what would the entry be to record the employee's weekly salary (round amounts to the nearest dollar)?
Compute the fair value rounded off of the leased asset : Duration of lease 5 years. Find the Fair Value (rounded off) of the leased asset. Lease payments inception (at the start) $60,000
Compute and show journal entries necessary to account : Compute and Show journal entries necessary to account for all the above transactions and events up to 1 July 2023, in accordance with AASB 116
Find and pass the necessary entries on june : Liala Ltd, Find and Pass the necessary entries on 30 June 2017 and 30 June 2018 to eliminate the intra-group transfer of equipment.
Indicate the appropriate action that by the auditor : The audit firm "left the extent", For each of the deficiencies identified, indicate the appropriate action that should have been taken by the auditor.
How do calculate total non-controlling interest : Find What are the three steps we use to calculate total non-controlling interest? What is a non-controlling interest, and how should it be disclosed?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd