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Sothern Asia Ltd leased cars from a finance company. a noncancellable contract for 4 years term and started on 1st January 2013. The annual rentals are $25,000 and are made on 1 st January each year with the first rental being paid on 1st January 2013. The lessor is responsible for all maintenance, insurance, and registration for the cars and the estimated value of those services is $8,000 per year. Sothern asia expects to purchase the cars at the end of the lease as it has an option to do so at $15,000 which is below its expected fair value of $35,000 at that date. sothern asia is planning to use the fleet of cars for 5 years and the current market price of a similar 5-year-old fleet is $25,000. The fleet would have cost the company $75,000 if it had purchased the fleet on 1st January 2013. The implicit interesr rate is 20% Record what should be written in the balance sheet required in the year ended 30 june 2014
Below is budgeted production and sales information for Fleming Inc. for December. Evaluate the budgeted total sale for December
If it costs $152 per unit to produce SUSI, and the MSRP is $360, what is Company U’s per unit contribution margin in each of the three channels of distribution?
Explain the term Error of Original entry
Determine the stated interest rate on these bonds. Calculate the interest expense and the discount amortization for the interest period ending June 30, 2010.
On July 1, 2018, a company issued 4,000 of its 10%, $1,000 bonds at 99 plus accrued interest. The bonds are dated April 1, 2018 and mature on April 1, 2028. Interest is payable semiannually on April 1 and October Calculate the amount of cash the comp..
multiple choice questions on accounts receivables and capital expenditure.1.the advantage of relating a companys bad
Regal Furniture Company allocates its indirect salaries of $22,500 on the basis of sales. Determine the indirect salaries allocated to Departments 1 and 2 using the following information. You must show your work for credit. (2 points) Dept.1 Dept.2 C..
Preparation of journal entries for various transactions in corporate - Prepare the journal entries for the following 2008 transactions. Place your answers below the rest of these questions.
Determine the amount of net income for March, assuming that no additional common stock was issued and no dividends were paid during the month.
SPA242 Financial Accounting Assignment. Pringles Ltd is a large department store that has used the straight-line depreciation method since the company was first formed. For the year ended 30 June 2016, Discuss the ethical and governance issues in c..
If overhead is allocated on the basis of direct labor hours, compute the unit cost of Product X - Evaluate the unit cost of Product X under the ABC system. Comment briefly.
Opened a business bank account with a deposit of $45,000 from personal funds.Purchased office supplies on account, $2,000.Received cash from fees earned for managing rental property, $8,500.
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