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On January 1, 2004, Digital, Inc. leased heavy machinery from Young Leasing Company. The terms of the lease require annual payments of $20,000 for twenty years beginning on December 31, 2004. The interest rate on the lease is 10%. Assume the lease qualifies as a capital lease.
1. Calculate the balance in the lease liability account on December 31, 2005 after the second lease payment is made.
2. Calculate the amount of the lease liability at December 31, 2005 that would be classified as a current liability.
how much liability for outstanding premiums should be recorded at the end of 2008?
The allowance for bad debts os contra to which one of the following accounts?
hope amp crosby co. reports net income of 34000. the partnership agreement provides for annual salaries of 24000 for
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Determine the amounts that should be debited to Land, to Buildings, and to Machinery and Equipment. Assume the benefits of capitalizing interest during construction exceed the cost of implementation.
Expected sales are 40,000 units; expected production is 50,000 units; practical (maximum) capacity is 100,000 units. If Tayla Industries uses a normal costing system and a plantwide predetermined overhead rate, the budgeted overhead per unit is:
During 2012 Daveo sells inventory costing $200,000 to BUA301co for 400,000 on credit. Daveo is concerned about collectability of the receivable so accounts for the transaction under the installment Sales method. Before the end of the year BUA301co..
Publicly traded companies are required to report earnings per share data on the face of the income statement. compare and contrast basic earnings per share with diluted earnings per share for each of the following:
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Collections during the year from down payments and installments totaled $300,000. Purchases for the year totaled $400,000; the cost of merchandise on hand at the end of the year was $80,000. Instructions: Using the installment-sales method, make s..
have you ever worked in a company that utilized activity based costing standard costing a just-in-time operating
on october 10 the board of directors of pattern corporation declared a 10 stock dividend. on october 10 the company had
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