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112.On June 30, 2011, Blue, Inc. leased a machine from Big Leasing Corporation. The lease agreement qualifies as a capital lease and calls for Blue to make semi-annual lease payments of $281,454 over a three-year lease term, payable each June 30 and December 31, with the first payment at June 30, 2011. Blue's incremental borrowing rate is 10%, the same rate Big uses to calculate lease payment amounts. Depreciation is recorded on a straight-line basis at the end of each fiscal year. Determine the present value of the lease payments at June 30, 2011 (to the nearest $000) that Blue uses to record the leased asset and lease liability?
At the beginning of the year, Gal Company had liabilities of $50,000 and stockholders' equity of $96,000. If assets increased by $40,000 and liabilities decreased by $30,000, what was the stockholders' equity at the end of the year?
which of the following would not be categorized as current assets?1. stocks2. debtors3. plant and machinery4. cash in
Which combination is the correct statement regarding disclosure requirements for earnings per share?
food to go delivery service disposed of one of their delivery cars after using it for two years. the records of the
McBride Medical had a cash balance of $7,000 on January 1. The company desires to maintain a cash cushion of $5,000. Funds are assumed to be borrowed, in the increments of McBride pays its vendor on the last day of the month also. The company had ..
Gordon died on January 1 and by his will left land with an adjusted basis of $60,000 and a FMV of $100,000 to Becky. Becky disclaims the property on December 31 of the year of death, when the land was still worth $100,000. Becky has made a gift (b..
Identify several pervasive factors that might motivate management to misstate assertions in the expenditure cycle.
great southern furniture ed koehler started great southern furniture five years ago to assemble prefabricated bedroom
fast delivery is a small company that transports business packages between new york and chicago. it operates a fleet of
Suppose Subaru agrees to repay $500 million at the end of 4 years. How much will UBS lend Subaru?
This equipment will last only a total of three years. The salvage value remains unchanged. Compute the revised depreciation for the second year.
the towson manufacturing corporation applies overhead on the basis of machine hours. the following divisional
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