Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
On January 1 st, 2006, the SAS Company entered into a lease where they agreed to make five annual payments of $224,000 beginning December 31 st, 2006. They correctly calculated that, the PV of the minimum lease payments was $894,000. The lease asset, a high printing press, had a fair market value of $1 million at 1/1/06. There was a $1 purchase option so they knew the lessor's implicit rate of 8%. SAS treated this lease as an operating lease, even though they thought that a $1 purchase option was a really good deal! SAS's auditors did not even look at this lease last year. However, at 12/31/07 their new auditors looked closely, and they told SAS that this should have been recorded as a capital lease, because the purchase option was a bargain.
Prepare the entries that fix this error. SAS normally depreciated assets like printing presses over five years. Assume that the 12/31/07 books are still open.
What is the recognized profit or loss on the sale of the building and the character of the gain?
The Prepaid Insurance account had a $4,000 balance on 31 st December, 2012. An analysis of insurance policies shows that $1,200 of unexpired insurance benefits remain at 31 st December, 2013.
Compute Dow's diluted and basic earnings per share
The loan is secured by property with a $230,000 fmv. ed has a $200,000 ordinary loss during the current year. How much loss can eric and denise recognize?
Evaluate the selling price and produce a contribution margin per
When more than one factor causes variations in the variable element of a mixed cost, multiple regression analysis. the high-low method is generally more accurate than the least-squares regression method in analyzing cost behavior.
Under a three-variance breakdown of the net overhead variance, evaluate the total factory overhead spending variance for May.
Determine the potential value or accounting treatment for such future development efforts.
Write a statement of cash flows for 2011 for Farmer Company
Determine net cash flow from operations
Compute the amount Verna's pension expense for 2013 and prepare the related journal entries.
Write the consolidated financial statements for Company
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd