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Question - On January 1, 2020, Blue Animation sold a truck to Peete Finance for $46,000 and immediately leased it back. The truck was carried on Blue's books at $41,000. The term of the lease is 5 years, there is no bargain purchase option, and title does not transfer to Blue at lease-end. The lease requires 5 equal rental payments of $10,920 at the end of each year (first payment on January 1, 2021). The appropriate rate of interest is 6%, the truck has a useful life of 5 years, with no expected residual value at the end of the lease term. Prepare Blue's 2020 journal entries.
During the week ended April 15, the following activity took place: 13,680 lbs. of raw material were used; Calculate the Direct labor rate variance
During the year, the entity sold 100,000 shares with P20 par value for P30 per share and received cash in full. What amount was reported as net income
Construct a contribution margin income statement for the month of June that reflects $600,000 in sales revenue for Kerr Manufacturing
Explain how IFRS defines a contingent liability and provide an example
Using the married-joint tax brackets and the corporate tax brackets, find out how much current tax this strategy could save Orie and Jane.
On September 1, 2010, Winans Corporation acquired Aumont Enterprises for a cash payment of $680,960. At the time of purchase, Aumont's balance sheet showed assets of $611,060, liabilities of $213,800, and owners' equity of $397,260.
Suppose you learn that Hertz will have EPS of 2 dollars for the coming year (t=1). What is the price of a share of Hertz stock
Create report about organizations, regulations and professional standards that have been established in Kingdom of Saudi Arabia in response to fraud
Question - Standard Direct Materials Cost per Unit. Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent
SaulGroup, Inc., a U.S.-based corporation, currently uses U.S. GAAP to prepare its consolidated financial statements. SaulGroup is considering switching.
Determine the amount of net income for March, assuming that no additional common stock was issued and no dividends
The company's production capacity is 100,000 labor hours per month. How many of each product should the Chicago plant make? Explain your answer
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