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Question - Larkspur Corporation manufactures drones. On December 31, 2019, it leased to Althaus Company a drone that had cost $104,800 to manufacture. The lease agreement covers the 5-year useful life of the drone and requires 5 equal annual rentals of $37,400 payable each December 31, beginning December 31, 2019. An interest rate of 11% is implicit in the lease agreement. Collectibility of the rentals is probable.
Required - Prepare Larkspur's December 31, 2019, journal entries.
the control environment reflects the companys attitude awareness and actions of management and the board concerning the
Based on the following data, determine the amount of total assets, total liabilities, and net worth. Liquid assets $4,370, Investment assets $8,840
An ounce of oats contributes 8 milligrams of vitamin A and 1 milligram of vitamin B, whereas an ounce of rice contributes 6 milligrams of A and 2 milligrams of B. An ounce of oats costs $0.05, and an ounce of rice costs $0.03. Formulate a LP model..
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