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Refer to the lease agreement described in the previous exercise. Assume the contract specified that NRC (the lessor) was to pay, not only the $5,000 maintenance fees, but also insurance of $700 per year, and was to receive a $250 management fee for facilitating service and paying executory costs. The lessee's lease payments were increased to include an amount sufficient to reimburse executory costs plus NRC's fee.
Required:
Prepare the appropriate entries for both the lessee and lessor to record the second lease payment, executory costs, and depreciation (straight line) on December 31, 2011.
in preparing the direct materials budget for quan company management concludes that required purchases are 64000 units.
Fast-Forward has beginning equity of $257,000, net income of $51,000, dividends of $40,000 and investments by owners in exchange for stock of $6,000. Its ending equity is:
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The lease also specified that, along with the last payment, Grommit could purchase the asset for $8,000 cash. Under this lease agreement, Grommit will be required to pay annual payments of:
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Powell Dentistry Services operates in a large metropolitan area. Currently Powell has its own dental laboratory to produce porcelain and gold crowns.
An air bubble of 20 cm3 volume is at the bottom of a lake 40 m deep where the temperature is 4.0oC. The bubble rises to the surface, which is at a temperature of 20oC. Just as the bubble reaches the surface, what is its volume?
prepare and explain an sfas matrix and a tows matrix for your selected company. data presented in tables do not speak
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