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Assume that IBM leased equipment that was carried at a cost of $150,000 to Sharon Swander Company. The term of the lease is 6 years beginning January 1, 2014, with equal rental payments of $30,044 at the beginning of each year. All executory costs are paid by Swander directly to third parties. The fair value of the equipment at the inception of the lease is $150,000. The equipment has a useful life of 6 years with no salvage value. The lease has an implicit interest rate of 8%, no bargain-purchase option, and no transfer of title. Collectability is reasonably assured with no additional cost to be incurred by IBM.
Prepare IBM’s January 1, 2014, journal entries at the inception of the lease.
What was Tommy Bad finger's cash coverage ratio for the year - Calculate the Cash Coverage Ratio
shown below is an income statement for 2010 that was prepared by a poorly trained bookkeeper of howell
What is net present value of this investment opportunity? Based on your answer to (a) above, should Axillar go ahead with the new conditioning shampoo?
question 1franks machine shop operates 250 days per year. frank sells 5000 units per year of his most popular item a
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question one of the characteristics unique to governmental and not-for-profit organizations is the inability to remove
While forecasting the results for the next year, the company wants to set its target Fixed Assets/Sales ratio at the level it would have realized had it been operating at full capacity. What target FA/Sales ratio should the company set?
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a year ending balance sheet showed the subsequent subtotals current liabilities 80000property plant and equipment
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