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On January 1, 2011, Dean Corporation signed a ten-year noncancelable lease for certain machinery. The terms of the lease called for Dean to make annual payments of $100,000 at the end of each year for ten years with title to pass to Dean at the end of this period. The machinery has an estimated useful life of 15 years and no salvage value. Dean uses the straight-line method of depreciation for all of its fixed assets. Dean accordingly accounted for this lease transaction as a capital lease. The lease payments were determined to have a present value of $671,008 at an effective interest rate of 8%. With respect to this capitalized lease, Dean should record for 2011
prairie dunes co. issues bonds dated january 1 2011 with a par value of 860000. the bonds annual contract rate is 10
Carol attends State University and received a $10,000 scholarship for her senior year that began in September, 2011. Up to the time of her graduation in May, 2012, Carol had paid the following expenses for the two semesters from her scholarship fu..
During the current year JET Industries issued 5 million of its $1 par common shares to its underwriters for $25,000,000 less promotional and accounting services of $500,000 to effect the issue.
this year company li built a light rail facility in county g. the assesed property tax value of the facility is 20
the following transactions and events took place at the prescott company during its recent calendar-year reporting
dubois inc. has 600000 to invest. the company is trying to decide between two alternative uses of the funds. one
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prepare journal entries to record the following selected transactions of masterson co.a purchased 600 shares of the
assume nortel networks contracted to provide a customer with internet infrastructure for 2000000. the project began in
in order to take home office deduction there are various requirements that must be met. why are they and why do you
Megan Brink is offered the possibility of investing $6,651 today at 6% interest per year in a desire to accumulate $10,000. How many years must Brink wait to accumulate $10,000?
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