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On 1 October 2019 fire Ltd acquire an item of plant under a 5 year agreement . the lease require an immediate deposit of $ 2 000 000 with 5 payments of $6 000 000 payable annually in arrears commencing on 30 September 2020. the present value of the future lease payments was $ 22 746 000. the agreement had an implicit finance cost of 10% p.a.
Question 1: What will be the current liability in fire Ltd's statement of financial position as at 30 September 2020 in respect of this lease?
3. Repeat requirement 1 applying the cost recovery method.
On August 1, a $30,000, 6%, 3-year installment note payable is issued by a company. The note requires equal payments of principal plus accrued interest be paid each year on July 31. The present value of an annuity factor for 3 years at 6% is 2.6730. ..
Design an appropriate capital structure which yield more profitability for a service industry. Illustrate your answer with the help of EBIT-EPS analysis.
Purpose the adjusting entry to recognise bad debt expens - Assume the same facts as above except that the Allowance for Doubtful Accounts account had a $500 debit balance before the current year's provision for uncollectible accounts.
What the requirements that must be met to receive a tax credit for child and dependent care expenses, and the limitations concerning the amount
What discount (interest rate) factor did you use to discount future dollars to today's dollars and why? There is no right or wrong answer and even actuaries have to adjust their numbers annually at times.
In 2013, company A sold inventory costing $100 to its fully-owned subsidiary company B for $150. The entire inventory remains with company B at the end of 2013. What journal entry should be recorded (*G) at the beginning of 2014 to eliminate the gain..
Instructions: Prepare your solution to this problem in your choice of formatting, but in Excel. You may use a timeline format or a table, as illustrated in the text. Be thorough in your response, showing calculations and explaining your entries..
Prepare an analysis detailing whether the investment in Welendtoanyone Inc. may be classified into the following categories in terms of IAS 39, Financial instruments: recognition and measurement.
Make a recommendation to Wally Wizard in a 3- to 4-page paper. Be sure to support your recommendation with the decision-making process outlined in the background information.
Conduct periodic bank statement reconciliations
Rick, who is single, has been offered a position as a city landscape consultant. The position pays $87,500 in cash wages. Assume Rick files single and is entitled to one personal exemption. Rick deducts the standard deduction instead of itemized dedu..
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