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Question - On January 1, 2022, Edward Corporation (lessor) enters into a ten-year lease of equipment to Kirk Corporation (lessee). The equipment has estimated useful life of 15 years. Lease payments are P380,000 per year all payable at the beginning of each year. The fair value of the leased asset on this date P3,132.161. The rate implicit in the lease is 6%. Kirk Guaranteed a residual value of P300,000. Assuming that the lease is a sales type lease and the cost of the asset is P2,500,000 and the residual value is unguaranteed, how much is the balance of lease receivable as of December 31, 2022 and the gross profit?
Question - Case Study - Who are the stakeholders and how are they affected by these corporate tax-saving strategies
munich ltd. uses a combined overhead rate of 2.90 per machine hour to apply overhead to products. the rate was
At the beginning of the current year, the investment has a fair value of $50,000,000. At what amount does Franklin report the investment on its year-end balance
What are the primary documents supporting a job order costing system and what purposes are served by each of them and how does information from a job order costing system support management decision making?
Prepare an analysis of each error showing (1) the incorrect entry, (2) the correct entry, and (3) the correcting entry. Items 4 and 5 occurred on April 30, 2011
Wilton, Inc. had net sales in 2014 of $1,472,100. At December 31, 2014, before adjusting entries, the balances in selected accounts were.
Using the two publicly traded companies (Shivam cement and Ultracement cement), Calculate the net profit margin (profitability ratio) for two years
MITEL Inc is a high-tech company in Ottawa. Determine the balance of the net defined pension liability as at December 31, 2020 and 2021
Prepare the journal entries necessary to account for the fair value changes on Farzad's financial assets at December 31, 2020
On 1 July 2018 Rankin Ltd issues $1 million in 10-year debentures that pay interest each six months at a coupon rate of 10 per cent. Determine the issue price
The actual revenue that the insurance receive for that premium is 5%. How much the total additional income, the insurer adds to their accounting report
which proved to be negative for melanoma. Before the procedure, the radiologist performed a lymphoscintigraphy
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