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Question - At 1 January 20X5 Bridge Finance plc agreed to finance the lease of machinery costing $37,200 to Rapid Growth plc at a lease cost of $10,000 per annum payable at the end of the year, namely 31 December. The period of the lease is five years. Bridge Finance plc incurred direct costs of $708 in setting up the contract.
Required - Show for Bridge Finance plc the amount that would be charged to the statement of comprehensive income for the year ending 31 December 20X7 and the amount of the leased asset that would appear in the statement of financial position at that date.
ABC Manufacturing has an average inventory age of 80 days, an average collection period of 70 days and an average payment period of 60 days.
Susan Sweets is a 40 percent shareholder in Acclaim Inc., a theatrical supplies company. She transfers a fully depreciated car with a value of $2,000 to the corporation, but does not receive any consideration for it. a. What are the tax consequenc..
Often Board and other committee volunteers for nonprofit organizaations are compensated for expenses during travel and meetings. Some think that this attracts volunteers for the wrong reasons.
The issued share capital of Savior, Calculate Savior's earnings per share for the years ended 31 March 2019 and 2020 including comparative figures.
What should the planned detection risk be set at in the audit of M Ltd? What impact will that have on the auditor's work and sample size?
The fastener division of Southern Fasteners manufactures zippers and then sells them to customers for $7.53 per unit. Its variable cost is $2.66 per unit.
The company also expects 84,000. Calculate predetermined overhead allocation rates based on direct labor hours, direct labor cost, and machine time.
A company's stakeholders often differ in their financial statement focus. For example, some stakeholders focus primarily on the income statement.
company vgg is thinking of buying a factory to meet the growing demand for its products. the following is the financial
What is the gross pay for each of the following employees. All are paid an overtime wage rate that is 1.5 times their respective regular wage rates
kim inc. began business at the start of the current year and maintains its accounting records on an absorption-cost
The receivables conversion period is 23 days. The accounts payable conversion period is 28 days. What is the cash conversion period?
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