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Absolute Leasing, Inc. agrees to lease equipment to Allen, Inc. on January 1, 2012. They agree on the following terms:1) The normal selling price of the equipment is $350,000 and the cost of the asset to Absolute Leasing Inc. was $275,000.2) At the end of the lease, the equipment will revert to Absolute Leasing, Inc. and have an unguaranteed residual value of $25,000. Their implicit interest rate is 10%.3) The lease is noncancelable with no renewal option. The lease term is 10 years (the same as the estimated economic life).4) Absolute Leasing, Inc. incurred costs of $5,000 in negotiating and closing the lease. There are no uncertainties regarding additional costs yet to be incurred and the collectability of the lease payments is reasonably predictable.5) The lease begins on January 1, 2012 and payments will be in equal annual installments.6) Allen will pay all maintenance, insurance, and tax costs directly and annual payments of $55,000 on January 1 of each year.Required:a) Determine what type of lease this would be for the lessee and calculate the initial obligation.b) Prepare Allen, Inc.'s amortization schedule for the lease terms.c) Prepare all the journal entries for Allen, Inc. for 2012. Assume a calendar year fiscal year.
1. You are required to randomly select listed Australian firms and collect their stock price data from Use Yahoo! Finance.You are asked to give advice for your clients regarding how many stocks are required to have a diversified portfolio in Austr..
Russell's Hardware has inventory of $218,000, equity of $421,800, total assets of $647,700, and sales of $587,200. What is the common-size percentage for the inventory account?
What are the four key factors in a firm's credit policy? How would an easy policy differ from a tight policy? Give examples of how the four factors might differ between the two policies. How would the easy versus the tight policy affect sales? profit..
From July 2 through the end of the year it used 400 doses. What is the inventory value at the end of the year assuming FIFO? What is the value assuming LIFO?
The risk-free rate of interest is 3% and the market risk premium is 5%.
describe the risk exposures in the following financial transactions. identify which transactions are influenced by
cash flows statements types of activities vertical analysis of statements price earnings ratio and basic accounting
What is the financial break-even point for the project? (Do not round intermediate calculations and round your final answer to nearest whole number.
If the firm had made a purchase of $100,000 for which it had been given terms of 2/10 net 30, would it increase the firm's profitability to give up the discount and not borrow as recommended in part b? Why or why not?
If this plan is followed for 10 years, how much should the monthly contributions be for the next 28 years in order to be able to withdraw, 10,000 at the end of each month from the account for the next 25 years. what is the total amount contributed..
you determine that xyz common stock has an expected return of 24. xyz has a beta of 1.5. the risk-free rate is 5 and
Calculate Bear's Earnings Per Share for next year assuming the firm raises $60 Million of new debt at an interest rate of 9 percent
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