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Problem 1: On January 1, 2016, Canberra Company signed an eight-year non-cancellable lease for a new machine, requiring P150,000 annual payment at the beginning of each year. The machine has a useful life of 12 years, with no residual value. Title passes to Canberra at the lease expiration date. Canberra uses straight line depreciation for all of its plant assets. On January 1, 2016, aggregate lease payments have a present value of P1,080,000 based on an appropriate rate of interest. What amount should be recorded as depreciation expense of the leased machine for 2016?
Prepare the journal entries required by Investor in 2018, assuming Investee reported net income of $180 million for the year ended December 31, 2018
The cab driver incurred costs of $3000 during its busiest month, driving 5,000miles. During the slowest month the vehicle was driven for only 2000 miles for an maintained cost of $2500.00. Using the High-Low method, determine the expected total cost ..
1. _________ standards can be applied to both manufacturing and service firms using the same methodology. SPC provides input to the _________ approach.
Would it be advisable to hire additional partner/s? If yes, which partner classification would be most beneficial to the company and why?
You own a call option on Intuit stock with strike price of $36. The option will expire in exactly three? months' time. what will be the payoff of the? call?
Depreciation R25 000. Use the information provided to calculate the earnings per share (EPS) and the net profit margin. show all calculations.
How to Record the journal entry for the cash purchase of the machine on Jan 4, 2018 and for its depreciation expense for the year ended December 31, 2019
Identify the major business and financial risks such as interest rate risk, foreign exchange risk, credit, commodity, and operational risks.
Jill and George are married and file a joint return. They expect to have $425,000 of taxable income in the next year and are considering whether to purchase a personal residence that would provide additional tax deductions of $80,000 for mortgage int..
The salvage value will remain the same. Record the depreciation journal entry for the end of the second year.
Determine the scope of a bookkeeping clean-up engagement. You notice that there is a large amount in the Opening Balance Equity account.
Why does the cost of capital constitute a direct link between return on capital expenditure and the returns required by capital investors?
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