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Question - At the beginning of current year, Nori Company entered into 5-year lease for drilling equipment.
The entity accounted for the acquisition as a finance lease for P2,400,000, which included a P100,000 purchase option. At the commencement date, the entity is reasonably certain to exercise the purchase option. The entity estimated that the equipment's fair value will be P200,000 at the end of the 8-year life and regularly used straight line depreciation on similar equipment. What amount should be recognized as depreciation expense on the leased asset for the current year?
a. 480,000
b. 460,000
c. 300,000
d. 275,000
Prepare the first-year journal entries for the bond issue and interest expense assuming that the company uses the effective interest method
What amount (if any) should Right report as a liability at the end of the year?
The additional paid-in capital account balance increased $4,100 during the year. How much were Superior dividend declarations
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Straight-line depreciationb. Double declining balance depreciationc. Sum of the year's digits depreciationThe company computes depreciation and amortization expense to the nearest whole year.
It is based on expected cash flows and provide a measure of liquidity. State the advantages and disadvantages of Payback period
1. where would the acquisition of a new building valued at 250000appear on the statement of cash flows if the
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