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For a capital lease the lessee records the lease payments as rent expense, but for an operating lease the lessee reports the lease payments as depreciation expenseFor an operating lease the lessee depreciates the asset acquired under lease, but for the capital lease the lessee does notOperating leases create a long-term liability on the balance sheet, but capital leases do notOperating leases do not transfer ownership of the asset under the lease, but capital leases often doOperating lease payments are generally greater than capital lease payments
Q. Internal Control Over Financial Reporting? Internal Control Over Financial Reporting - A process designed by, or under supervision of company's principal executive and princ
The comparative balance sheets for 2013 and 2012 are given below for Surmise Company. Net income for 2013 was $80 million. SURMISE COMPANY Comparative Balance Sheets December 31, 2
profit and loss account
Q. Show benefits of factoring? Factor finance The factoring company will progress up to 80% of the face value of invoices raised. This would permit Doe Ltd to pay its trad
Purchases office supplies on account costing $12,600 during July. It pays $5,500 for these purchases during July and the remainder during August. Office supplies on hand on July 1
GOODS AT BRANCH MARKED DOWN, OR MARKED UP BY AN ADDITIONAL AMOUNT If goods at the branch are not selling well, branch could be authorized by the Head office to mark-down the good
Determine the Balancing risk and return All decision making involves future and business decision making is no exception. Only thing certain about the future, though, is that w
Q. Describe about Backdating? i) Exercise price is based on a lower share price prior to option grant date. Practice of marking a document with a date that precedes actual date
The intestate leaves one surviving spouse, but no child or children The surviving spouse is entitled to: 1. The personal and household effects of the deceased absolutely: "per
Assignments with the answer for tafe sa 4 edition. Question 11, page 76 and question 39, page 89
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