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Question - Assume that IBM leased equipment that was carried at a cost of $183,000 to Sharon Swander Company. The term of the lease is 6 years beginning January 1, 2017, with equal rental payments of $35,881 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 $183,000. The equipment has a useful life of 6 years with no salvage value. The lease has an implicit interest rate of 7%, no bargain-purchase option, and no transfer of title. Collectibility is reasonably assured with no additional cost to be incurred by IBM.
Prepare IBM's January 1, 2017, journal entries at the inception of the lease.
Describe at least two career options someone with an accounting education can pursue. Be sure to reference sources such as the Bureau of Labor Statistics and the American Institute of Certified Public Accountants.
Review the roles of management accounting within a company. What is the most important role of management accounting? How is that different than financial accounting?
Explain the differences between a proprietorship, a partnership, and a corporation in 200 to 300 words. Why would an entrepreneur want to choose one over the other? If you were starting a new business, which would you choose? Explain why.
Agnes is able to reduce her regular income tax liability from $40,000 to $36,000 as the result of the alternative tax on net capital gain. Agnes' tentative AMT is $50,000
cost of production report robusta coffee company roasts and packs coffee beans. the process begins by placing coffee
The implied interest rate is 12%. Prepare Aero's journal entries for the initial transaction, recognition of interest each year, and the collection of $20,000 at maturity.
Prepare a horizontal analysis of the balance sheet, showing dollar and percentage changes. Round all calculations in parts (a) and (b) to two decimal places.
Which of the materials and labor variances should be investigated if management considers a variance of more than 6% from standard to be significant? Discuss the potential causes of this variance.
Have a huge impact on who you marry. Are you going to take on another person's debt or are they going to take on your debt and have a huge impact on if/when you buy a house
in the month of june angelas beauty salon gave 3500 haircuts shampoos and permanents at an average price of 30. during
2-10 Investors expect a company to announce a 10% increase in earnings; instead, the company announces a 1% increase. If the market is semi-strong form efficient, which of the follow- ing would you expect to happen? (Hint: Refer to Footnote 13 in ..
prepare journal entries to record (a) the copier's sale; (B) the adjustment on December 31,2011, to recognize the warranty expense; and (c)the repairs that occur in November 2012.
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