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On january 1, 20x1, lessor enters into a 4 years lease of equipment. The equipment has a remaining useful life of 15 years. The annual lease payments, payablr at the end of each year are as follows:
20x1 P 100,00020x2 120,00020x3 140,00020x4 160,000
As an inducement to enter to lease, Lessor granted Lessee the first six months of the lease as rent-free. Lessot receives a lease bonus of P 20,000.
Problem 1. What are the journal entries?
Find The realized gain (loss) that Hand Tools will report year is? On February 1 of this year, Hand Tools sold all these shares for $73,000.
The Red and Blue partnership has been created to operate a law firm. The partners have been attempting to devise a fair system to allocate profits and losses. Red plans to work more billable hours each year than Blue. Use the above spreadsheet to det..
October 31 make a balance sheet for Ernst Consulting. On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,000
Prepare the general journal entry to record on the June 15,2017 withdrawal of Hopeful from the partnership.Hopeful,. wordsmith and zoe are partners
Define the financial reporting entity. Define and give an example of a component unit. Define and give an example of a primary government
How many customers you will have, but you figuring on setting a fee of $2 per delivery, which will be payable by your clients at the end of each month.
Prepare a report showing profitability for each product for the next year using the traditional overhead allocation method. Prepare a report showing profitability for each product using activity-based costing.
George Large worked as a salesman for Toyboat, Inc. He received a salary of $80,000 ($8,500 of federal income taxes withheld and $1,800 of state income taxes withheld) plus an expense reimbursement from Toyboat of %5,000 to cover his employee busines..
journal entries for prepaid expenses- insurance.prepaid expenses- insurancea use the horizontal model or write the
State your choice of accounting policy regarding the measurement of intangible assets at the time of recognition and after the initial acquisition.
The following costs result from the production and sale of 1,000 drum sets manufactured by Tight Drums Company for the year ended December 31, 2015. The drum sets sell for $500 each. The company has a 25% income tax rate. Prepare a contribution margi..
P at the end of every year for ten years at a nominal rate of interest of 10% compounded quarterly. What is the amount of the annual payment?
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