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Question - Crane Company, a machinery dealer, leased a machine to Dexter Corporation on January 1, 2020. The lease is for an 8-year period and requires equal annual payments of $31,300 at the beginning of each year. The first payment is received on January 1, 2020. Crane had purchased the machine during 2019 for $140,000. Collectibility of lease payments by Crane is probable. Crane set the annual rental to ensure a 4% rate of return. The machine has an economic life of 10 years with no residual value and reverts to Crane at the termination of the lease. Assume that Dexter Corporation does not know the rate implicit in the lease used by Crane, and Dexter's incremental borrowing rate is 6%. In addition, assume that Dexter incurs initial direct costs of $14,000.
Compute the amount of the lease liability and right-of-use asset for Dexter.
Prepare all necessary journal entries for Dexter for 2020.
Compute the total intangible assets on the balance sheet of Janssen Enterprises. Research & Development Costs 2,000,000. Goodwill 2,500,000.
XYZ, Inc. reported $23 million in operating current assets, $25 million in net fixed assets, How much total net operating capital does XYZ, Inc. have?
When using a worksheet, adjusting entries are journalized after the worksheet is completed and before financial statements are prepared.
Dewitt Corp. acquired 90% of Comstock Inc. by paying $39,750 cash. Create a proper presentation of consolidated net income for 1912
On January 1, 2019, Adonis Company acquired Argus Company's 8%. Find carrying value of the bonds reported in the December 31, 2020 balance sheet is
If a bank manager is certain that interest rates were going to increase within the next six months, how should the bank manager adjust the bank's.
A project has an initial outlay of $4,000. The project has a single payoff at the end of Year 4 of $6,996.46. What is the IRR for the project
Hot Ltd determined that due to a downturn, Prepare the necessary journal entry for impairment loss on the Travel Products Division Ltd's as at 30 June 2021.
The liquidation of a partnership of Estudillo, Earla and Esteban, resulted in a deficiency, How much should be contributed tio RR assuming MM is insolvent?
A general partner in a partnership has unlimited legal liability but also has managerial control over the partnership. Are there any penalty concerns associated with the valuation discounts that your proposed transfer takes advantage of, especially i..
Given that it has a beta of 1.5, the current market return is 7.43%, and the risk free rate is 1.77%. What is the expected return in %?
Purchase one share of common stock at $15 per share. The average market price of Bird's common stock during 2019 is $20 per share. Compute diluted EPS.
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