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Question - On January 1, 2019, Lessee Company leased a building with a useful life of 8 years from the Lessor Company. The lease term is for a period of 5 years. The annual rental is P2,000,000 payable every December 31. The Lessee Company incurred and paid P200,000 associated with the contract of lease. A P300,000 lease incentive was received by the Lessee Company at the commencement of the lease. The Lessee Company has the option to purchase the building at the end of the lease term for P500,000 and it is reasonably certain that the option will be exercised. The implicit rate is 10%. Prepare the entry at the end of the lease term assuming that the option was not exercised.
Common stock, $20 par (no change during the year) $10,000,000. For the common stock, determine the dividend yield
Determine the labor quantity variance and round to the nearest whole dollar. Enter a favorable variance as a negative number
The company uses a 360-day year for interest calculations. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note
Joseph wanted to adopt a healthy lifestyle,so he resolved to abstain from high-fatfast food and sugar-laden sodas.
on july 23 of the current year dakota mining co. pays 4836000 for land estimated to contain 7800000 tons of recoverable
What is the meaning of market in the lower-of-cost-or-market rule?
Discuss the appropriate places to use audit sampling. Discuss the steps involved in using sampling for substantive tests of account balance
Teal Company uses special strapping equipment in its packaging business. Prepare the journal entry (if any) to record the impairment at December 31, 2017.
Why are most large companies like Microsoft, PepsiCo, Caterpillar, and AutoZone organized as corporations?
the information is available for completed job 402 direct materials 60000 direct labor 90000 manufacturing overhead
He explains the problem to his immediate supervisor, who says, Forget it. Just charge the bills to next year appropriation. Explain the nature of the accountant dilemma, and discuss what you think he should do.
If the stated (nominal) annual interest rate is 12.48 percent, what is the amount of the INTEREST portion of the FIRST monthly installment
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