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At the beginning of the year, a firm leased equipment on a capital lease, capitalizing $60,000 in its lease receivable account. The contract calls for Decem ber 31 payments of $15,000. The lessor's annual reporting period ends December 31 and the contract reflects 10% interest. The lessee made the first payment as required. The direct method statement of cash flows for the lessor should reflect which of the following in the first year of the lease contract?
Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method and if the direct method had been used, would the net cash flow from operating activities have been the same? Explain.
Belle Co. received merchandise on consignment. As of March 31, Belle had recorded the transaction as a purchase and included the goods in inventory. What would be the effect of this on its financial statements for March 31?
Discount Sales sells some used store fixtures. The acquisition cost of the fixtures is $12,500, the accumulated depreciation on these fixtures is $9,750 at the time of sale. The fixtures are sold for $4,500.The value of this transaction in the Inv..
find a journal article online about absorption andor variable costing. in the subject line of your post include the
Compute the net income to be earned under each alternative and course of action will produce the highest net income?
Find the NPV and PI of a project that costs $1,500 and returns $800 in year 1 and $850 in year 2. Assume the project's cost of capital is 8 percent.
a company which manufactures custom-made machinery routinely incurs sizable telephone costs in the process of taking
Wheeler Corporation had retained earnings of December 31, 2008 of $ 12 million. During 2009, Wheeler's net income was $ 4 million. The retained earnings balance at the end of 2009 was equal to $ 13 million. Therefore, _________
Ports Pans is considering the production of a new line of pottery. Based on preliminary market research, management has decided that each pot should be priced at $60. Furthermore, management believes that the profit margin should be 40 percent of ..
A. Low Carb Diet Supplement, Inc. has two divisions. Division A has a profit of $100,000 on sales of $2,000,000. Division B is only able to make $25,000 on sales of $300,000. Based on the profit margins (returns on sales), which division is superior?
how can you use caats to detect fraud? what do you gain by using caats to detect
Compute the equivalent units of production for materials and conversion costs for the first department for October, assuming that the company uses the weighted-average method for accounting for units and costs:
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