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Question - Corporation leased equipment to Kingbird, Inc. on January 1, 2020. The lease agreement called for annual rental payments of $1,098 at the beginning of each year of the 3-year lease. The equipment has an economic useful life of 7 years, a fair value of $7,200, a book value of $5,200, and corporation expects a residual value of $4,700 at the end of the lease term. Corporation set the lease payments with the intent of earning a 5% return, though Kingbird is unaware of the rate implicit in the lease and has an incremental borrowing rate of 7%. There is no bargain purchase option, ownership of the lease does not transfer at the end of the lease term, and the asset is not of a specialized nature. Prepare all necessary journal entries for Kingbird in 2020.
First assume that all of the deferred money and accumulated interest is paid out along with the final salary payment at the end of 2012. Use 5.5% as the discount rate. What is the present value (as of the signing date) of Ichiro's contract under t..
The total of the sale proceeds was credited to the investment account.
Discuss and Explain the difference between Operating, Investing and Financial Activities
What is the purpose of calculating the number of days revenue in accounts receivable?
Out of the above given data which Marion has collected, list the information which isNOT relevant to deciding the product mix to maximise the contribution to company profits
Calculate the 2018 depletion of the timber tract and depreciation of the logging roads assuming the units-of-production method is used for both assets
Find the targeted number of sales in luxury cars for Fairly Honest Motors if the variable cost per car is $43,750, the selling price per car is $64,900
Retailer selling price of a printer is $600 and Retailer Markup on selling price = 25%. What was the manufacturer markup on selling price
The Bailey Corporation issued 5 year, 11% bonds with a face value of $300,000 on April 1 for $288,000. Interest is paid semiannually at October 1 and April 1.
Late in 2013, you and two other officers of Curbo Fabrications Corporation just returned from a meeting with officials of The City of Jackson.
The company credited Accumulated depreciation for 44,000 when it recorded impairment at year-end. What is the fair value of the asset sold stand-alone?
Based on analysis approaches outlined in the case, analyze any three NSE listed companies of your choice and advice the investor accordingly.
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