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Question - On August 1, 2012, Gabriel Company leased a machine to Baby Company for a six-year period requiring payments of P100,000 at the beginning of each year. The machine cost P480,000, which is the fair value at the lease date, and has a useful life of eight years with no residual value. Gabriel's implicit interest rate is 10% and present value factors are rounded off to three decimal places. Gabriel appropriately recorded the lease as a direct financing lease. At the inception of the lease, the lease receivables account balance should be?
a. P600,000
b. P586,800
c. P480,000
d. P479,100
Compute the company's break-even point in number of widebody passenger jets and in dollars of sales
wilson co. purchased land as a factory site for 800000. wilson paid 80000 to tear down two buildings on the land.
ACCT6005 Company Accounting Assignment Help and Solution, Laureate International Universities - Assessment Writing Service
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Make sure your answer demonstrates your understanding of the fraud triangle and fraud examination."
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