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, 2021, Entity X enters into a 3-year lease of equipment for an annual rent of ?100,000 payable at the end of each year. The equipment has a remaining useful life of 10 years. The interest rate implicit in the lease is 10% while the lessee's incremental borrowing rate is 12%. Entity X uses the straight-line method of depreciation.
The relevant present value factors are as follows:
PV of an ordinary annuity of ?1 @10%, n=3............ 2.48685PV of an ordinary annuity of ?1 @12%, n=3............ 2.40183
Problem 1: How much is the lease liability to be recognized by Entity X on initial recognition?
Option 1: P0Option 2: P252,314Option 3: P240,183Option 4: P248,685
Mannisto, Inc., uses the FIFO inventory cost flow assumption. In a year of rising costs and prices, the firm reported net income of $1,920,000 and average assets of $12,000,000.
On July 1 leather inventory was expected to be 1,000 square meters. What will leather purchases be in July
What amounts will be reported on the income statement and balance sheet at the end of 2014, 2015, and 2016
Assume for the purposes of this question that the price you are paying for this property is the value that you calculated using your assumed cap rate.
Prairie Dunes Co. issues bonds dated January 1, 2011, with a par value of $800,000. The bonds' annual contract rate is 13%, and interest is paid semiannually.
What would believers in the quantity theory of money (monetarists) expect to result from these large scale purchases of securities by the Fed
Briefly discuss why the current accounting system fails to highlight the cost of quality. Give one example of a cost of quality not normally identified by the accounting system.
At the end of 2010 (right-hand column above), the inventory was understated by $40,000, Compute the corrected net income figures for 2010 and 2011
Classy Cruiselines offers nightly dinners crusies from the coast of Miami, San Francisco, Seattle. What is the contribution margin per passenger
Prepare the Statement of Changes in Equity. he following balances were retrieved from the records of Juan's Janitorial Services for the year
How much total cash was paid by Marcy on the maturity date?What is the entry on the date of maturity to recognize the payment of the principal and the interest?
outdoors r us owns several membership-based campground resorts throughout the southwest. the company sells campground
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