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Problem - On Dec 31, 2021, Malton Corporation signed a five-year noncancelable lease for equipment from Brampton. The terms of the lease called for Brampton to receive annual payments of $50,000 each Dec 31, beginning with Dec 31, 2021, for five years with the equipment going back to the lessor at the end of this period. The equipment has an estimated useful life of 5 years and no salvage value. Brampton accordingly accounts for this lease transaction as a sales type lease. The minimum lease payments were determined to have a present value of $208,493 at an effective interest rate of 10%. Brampton manufactured the equipment for $150,000.
Required -
a. Prepare a lease amortization table for the life of the lease.
b. Record Brampton's (Lessor) journal entries for 12/31/21, 12/31/22 & 12/31/23.
Assume that tour Polaris' factory where it makes its products. List three direct costs and three indirect costs that we are likely to see.
OLI Paradigm. The OLI Paradigm is an attempt to create an overall framework to explain why MNEs choose FDI rather than serve foreign markets.
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Which of the following is correct about the effective interest method of amortization?
On January 1, 2010, Reston Co. purchased 25% of Ace Corp.'s common stock; no goodwill resulted from the purchase. Reston appropriately carries this investment at equity, and the balance in Reston's investment account was $720,000 at December 31, 2..
France. During the era of the French franc, France imposed a rule on its banks and subsidiaries of international companies operating in France.
For the last 19 years, Mary has been depositing $500 in her savings account , which has earned 5% per year, compounded annually and is expected to continue.
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