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Question - At the beginning of current year, CAT Trucks and Services purchased a new equipment for P5,000,000 and leased it to MDC on August of the current year. The machine has an estimated 9-year life with a residual value of P500,000. The lease is for a three-year period at an annual rental of P1,000,000.
Additionally, MDC paid 300,000 to CAT as a lease bonus to obtain a three-year lease. CAT incurred insurance expense of P80,000 for the leased machine during the current year.
What is the operating profit of the lessor on the leased asset for the current year?
Calculate U.S. Steel Corporation's percentage gross margin (i.e., total net sales less cost of sales sold divided by total net sales, where ")
How much should the company accrue each month for property taxes? Calculate the balance in Property Tax Payable as of August 31.
Calculate the amount of net periodic pension expense that the company would recognize in 2014, 2015, and 2016
Maple Company has a projected benefit obligation of $439,000 for its pension plan, Why and where Maple would report its Pension Cost
A consumer electronics company was formed to develop cell phones that run on or are recharged by fuel cells. Compute the taxable income of this company
1.On March 1, 2013, Stratford Lighting issued 14% bonds, dated March 1, with a face amount of $300,000.
on january 1 2007 korizan company adopted a plan to accumulate funds to retire 8000000 of bonds payable which are due
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The Spangle Company uses the process cost system and average costing. Prepare a cost of production summary for the month
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