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!
Grand Berhad sign a lease agreement with Branded Berhad on 1 January 2015 to lease a drying machine. The lease term is non- cancellable lease for 5 years with bargain purchase option and the title of the machine is to be passed to Branded Bhd at the end of the lease term. The fair value of the machine as at 1 January 2015 was RM90,000 with the initial direct cost of RM2,500 paid by Grand Bhd. The terms of lease agreement are as follows: RM Annual rental payments (paid at 31 December) 20,000 Estimated economic life 5 years Guaranteed residual value 5,000 Interest rate implicit 10% Assume financial year of Branded Berhad ends every 31 December.
Required:
Question i) Identify the type of lease in the case above and justify your answer based on the standard.
Question ii) Prepare the related journal entries for the year ended 2017 in the books of Branded Berhad.
Question iii) Explain the impact of treating the lease arrangement above as an operating lease.
Perform horizontal financial analysis
Balance sheet with a net book value of $1,500,000 and a fair value of $2,500,000. Reticular had no liabilities at this time. What is goodwill in this purchase?
Prompt: Consider that a company is a nonprofit entity and a governmental entity. Discuss the reporting requirements for each and how they differ from a for-profit entity. Explain how you would address compliance with GAS in nonprofit and governmental..
Additional facts are available for preparing adjustments on March 31 prior to financial statement preparation - the March 31 amount of computer supplies still available totals $2,015 and three more months have expired since the company purchased its..
Prepare journal entries to close the accounts. Use four entries. to close revenue account, to close expense account, to close Income summary account.
Investigate the profitability that would result if instead of baking 30 batches each morning, they bake 25, 30, 35, or 40 batches. Which would you recommend and why?
What are the disadvantages of AVCO method and which of them is better, FIFO or AVCO and, if there is any odd results, could you explain why?
Compute the missing amounts (rounded to the nearest $ in millions) in the Marriott balance sheet.
on 1st january 2013 winn heat transfer leased office space under a three-year operating lease agreement. the
December 31, 2018 and December 31, 2019, respectively. What is the compensation expense for 2019 as a result of the share appreciation rights?
Use this information to determine the total manufacturing costs incurred during the fiscal year 2018.
Which of the following statements about under- or overapplied manufacturing overhead is correct?
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