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1. Water world Company leased equipment from Costner Company. The lease term is 4 years and requires equal rental payments of $43,019 at the beginning of each year. The equipment has a fair value at the inception of the lease of $150,000, an estimated useful life of 4 years, and no salvage value. Water world pays all executory costs directly to third parties. The appropriate interest rate is 10%. Prepare Water world's January 1, 2011, journal entries at the inception of the lease.
a company uses a standard cost system. one of the most popular products is a center that houses electronic units. the
stan sweeney turned 20 years old today. his grandfather established a trust fund that will pay mr. sweeney 80000 on his
If you paid an extra $100 per month to reduce the principal due on the mortgage, how long would it take to repay half the principal due? In the case where you paid an extra $100 per month, how long would it take to repay the entire loan?
Schiller Company has stockholders" equity of $400,000 and net income of $72,000. It has a payout ratio of 18% and a return on assets ratio of 20%. How much did Schiller pay in cash dividends, and what were its average total assets?
the taxpayer compliance measurement program has been controversial. what public service do you think it provides?
mary jananes capital statement reveals that her drawings during the year were 50000. she made an additional capital
refer to the original data. assume again that the company sold 31000 units last year. the president does not want to
marvin is the executor and sole heir of his aunts estate. the estate includes her furnished home which marvin is
Based on these financial data and your knowledge and assumptions about the nature of the businesses that the companies operate, determine which data relate to which companies.
you want to borrow 1000 from a friend for one year and you propose to pay her 1120 at the end of the year. she agrees
If Dizbert Company concluded that an investment originally classified as available for sale would now more appropriately be classified as held to maturity, Dizbert would:
In light of the city's fiscal problems, what is the most likely motivation for the new charge? Will the new overhead charge achieve its objective?
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