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Harbor (lessee) signs a five year capital lease for office equipment with a $10,000 annual lease payment. The present value of the five annual lease payments is $41,000, based on a 7% interest rate.
1. Prepare the journal entry Harbor will record at inception of the lease. 2. If the leased asset has a five year useful life with no salvage value, prepare the journal entry Harbor will record each year to recognize depreciation expense related to the leased asset.
1.In your own words, please distinguish between direct and indirect expensesand identify bases for allocating indirect expenses to departments.
1.during the current year jacob alicia and shawn who are partners in the jas company had average capital balances of
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At the market close on February 19, 2010, McDonald's Corporation had a closing stock price of $64.74. In addition, McDonald's Corporation had a dividend per share of $2.05 over the previous year.
Using IFRS, future lease payments for an operating lease include what required disclosures?
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The payroll costs for the year were $100,000, and the accounting costs for the year totaled $50,000. The departments and the average cost of store equipment and average cost of inventory for each are as follows:
Alex Mashiri and Dana Mendel are discussing the benefits of budgeting. They ask you to identify the primary advantages of budgeting. Comply with their request.
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