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On January 1 st, 2006, the SAS Company entered into a lease where they agreed to make five annual payments of $224,000 beginning December 31 st, 2006. They correctly calculated that, the PV of the minimum lease payments was $894,000. The lease asset, a high printing press, had a fair market value of $1 million at 1/1/06. There was a $1 purchase option so they knew the lessor's implicit rate of 8%. SAS treated this lease as an operating lease, even though they thought that a $1 purchase option was a really good deal! SAS's auditors did not even look at this lease last year. However, at 12/31/07 their new auditors looked closely, and they told SAS that this should have been recorded as a capital lease, because the purchase option was a bargain.
Prepare the entries that fix this error. SAS normally depreciated assets like printing presses over five years. Assume that the 12/31/07 books are still open.
Write a program that Pulls four quarterly sales figure
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Purpose the journal entry for Blaha to record the impairment of its goodwill at the end of 2013.
Which of the subsequent properly portrays the components of net position for proprietary funds?
One printing press was new, and the other was used by a business that currently filed for bankruptcy. Costs related to new printing press
Write the adjusting entry needed to reconcile the difference between actual and normal cost
Evaluate the cost per cost driver for each of the three cost centers. Use the results from part 1 to allocate costs from each of the three cost centers to both the general surgery and the orthopedic surgery units.
ABC Company sells widgets in three varieties (red, yellow and blue) but has lost money for the past three years.
What amount can be reported as the noncontrolling interest in the consolidated balance sheet on January 1, 20X9?
Which cost is relevant present cost or replacement cost
Fixed costs total $84,000 per month, If 80% of the rooms are occupied each night in the month of February Compute total costs be for the month
Evaluate a consolidated statements workpaper
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