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Question - Compass sdn bhd enter into a lease agreement of machine F2030 with redtech sdn bhd on 1 Jan 2020. In the agreement redtech sdn bhd is expected to pay deposit of RM 100000 on the day if contract. The next payment will be RM 95000, RM 98000, RM 100000 and RM 105000 which will commence on 1 Jan 2021. The fair value of the machine on the inception date was RM 460000. The economic life of the machine was 6 years. Machine H2019 was also leased from another company known as SCF ENTERPRISE. Compass sdn bhd will pay SCF ENTERPRISE 5 installments of RM 12000 each. The machine useful life is 15 years.
i) Explain the appropriate accounting treatment for each of the machine above for lessor.
ii) Prepare journal entries for both machines from the perspective of lessor for year 2020 and 2021.
If the ratio of cost to retail price is 60%, what is the amount of inventory to be reported on the financial statements?
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The company can expect to get a 9 percent return on any investment. Determine the maximum price that they can afford to pay for the machine up front
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The manufacturing overhead
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background informationchris white was a forestry technician who had been searching for several years for a business
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