Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
On January 1, 2014, Benjamin Industries leased equipment on an eight-year term at $15,000 annual rental payments, paid in advance. There is a bargain purchase option on December 31, 2021 (end of lease), of $24,000. The economic life of the equipment is estimated to be 15 years. The interest rate is 12 percent.
(1) Give the necessary entries for 2014 assuming all payments after the initial payment are made on December 31.
(2) Give the entry at December 31, 2021, assuming the option is permitted to lapse and that there is no residual value because of obsolescence. Assume 2021 amortization entries have been made.
Comparative income statements at various capacity levels - Analysis of income effects of additional business
Preston Corporation purchased a truck for $40,000. The company expected the truck to last four years or 100,000 miles, with an estimated residual value of $4,000 at the end of that time. During the second year, the truck was driven 27,500 miles. Comp..
What is the amount of property and equipment on the balance sheet for the two most recent years? What is the amount of depreciation expense? What amounts are on the cash flow statement for the most recent year that relate to depreciation, gains and s..
Discuss the accounting treatment of Research and Development costs, stating at which point the hazel-nuts ice-cream project should be capitalised? (Explain with reference to the applicable requirements from NZIAS 38)
What political and social changes are currently on the horizon that will affect the cost of health care? What parties arre supporting these changes and who is opposing them?
The Cecil-Booker Vending Company changed its method of valuing inventory from the average cost method to the FIFO cost method at the beginning of 2013. At December 31, 2012, inventories were $112,000 (average cost basis) and were $116,000 a year earl..
preparation of income statement using contribution analysis.omstadt company produces and sells only two products that
Estimate cost of goods sold and the cost of the July 31 ending inventory using the retail method of evaluation. (Omit the "$" sign in your response.)
a company acquired some land independently appraised at 12000 and paid for it by issuing 1000 shares of its common
Cobden had initially estimated that it would work 55,000 direct labour hours during the year and incur $330,000 of manufacturing overhead cost. Illustrate what was Cobden Manufacturing Company's manufacturing overhead cost for the year?
Evaluate the profitability of each product after allocating joint costs.
Evaluate the gross profit? and What is the cost of goods sold and What's the selling price?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd