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Question - On December 31,2019, ABC Company signed a 5-year, non-cancelable lease for a machine with DEF Company. The terms of the lease called for ABC Company to make annual payments of P 80,000 in advance starting on December 31,2019 and every December 31 thereafter. The machine has an estimated useful life of 6 years and a P 40,000 unguaranteed residual value at the end of the 5 year lease term. The machine reverts back to the lessor at the end of the 5 year lease term. ABC Company uses the straight line method of depreciation for all its depreciable assets.
The rate implicit in the lease, which is not known to ABC Company is 12%. Incremental Borrowing rate of ABC Company is 10%.
How much is the interest expense to be recognized by ABC Company for the year 2021?
randell company issues 7 10-year bonds with a par value of 150000 and semiannual interest payments. on the issue date
What is the amount of rent expense that will be recorded in the related adjusting entry dated June 30
Discuss how to calculate how much Marbury Bank loaned to the maker of the note and how must Marbury would receive when the note was rediscounted.
It would seem that a government either has or does not have expendable financial resources as a result of a property tax, grant, or other revenue transaction. Furthermore, no similar concept, such as deferred working capital, is used in business a..
For the common stock, determine (a) the earnings per share, (b) the price-earnings ratio, (c) the dividends per share, and (d) the dividend yield.
A corporation had stockholders' equity on January 1 as follows: Common Stock, $5 par value, 1,000,000 shares authorized, 500,000 shares issued; Contributed Capital in Excess of Par Value, Common Stock, $1,000,000; Retained Earnings, $3,000,000. Prepa..
Euclid acquires a 7-year class asset on May 9, 2017, for $148,300. Calculate the Euclid's cost recovery deduction for 2017 and for 2018
On December 31, 2011, the inventory at prices existing on that date was $195,500, and the price level was 115. Compute the inventory on that date under the dollar-value LIFO method.
On January 1, Mojo Company purchased a new machine for $100,000 to be depreciated over 5 years. The NPV of the machine should be
Net working capital = $1,086; fixed assets = $6,217; total assets = $8,606; and long-term debt = $4,619. What are the company's total liabilities
Grunewald Industries sells on terms of 2/10, net 40. Gross sales last year were $4,562,500 and accounts receivable averaged $437,500. Half of Grunewald's customers paid on the 10th day and took discounts.
hightech manufactures color printers. it is in the process of planning the production and design of model cx-700 one of
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