Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
On January 1, 2020, Dufferin Corp. enters into a 10-year non-cancellable lease with Pine Ltd. to lease equipment with an estimated useful life of 11 years and a fair value of $6,000,000. The borrowing rate on the lease is 8%. Dufferin uses the straight-line method to depreciate assets.
The lease contains the following provisions:
Instructions
Problem 1: Calculate the present value of the minimum lease payments over the life of the lease. Round to the nearest dollar.
Problem 2: What kind of lease is this to Dufferin Corp.? Why?
Problem 3: Provide a lease amortization schedule for the full lease. You should write schedule using Excel and copy it into your Word document. The lease amortization schedule provides you an opportunity to check that your present value calculation is correct.
Problem 4: Prepare the journal entries for Dufferin for the first year of the lease.
The company purchased 229,000 pounds of raw materials in January at a cost of 78t a pound. What is the process in finding Materials Price Variance
one of the operations in the united states postal service is a mechanical mail sorting operation. in this operation
If Linaweaver marks up total cost by 0.90, what sale price in dollars should be charged if 48,000 units are expected to be sold each year
(Identification of activities with funds and identifying funds with the appropriate measurement focus and basis of accounting) Jasmin City is a small city.
With this sale of the asset to the unrelated party, what is the amount of gain that should be recognized on Locke's consolidated financial statements
What was the total master (static) budget variance, in terms of operating income, for the period? Is this variance favorable or unfavorable?
krispy amp co manufactures a single product that goes through two processes mixing and cooking. the following data are
Bluegill Company sells 9,600 units at $260 per unit. Fixed costs are $124,800, and operating income is $1,123,200. Determine unit contribution margin per unit
Mr. Moore has hired you as his accountant. The two of you discuss the business and decide upon the following chart of accounts.
Sol purchased land as an investment on February 12, 2017 for $85,000. On January 31, 2018, Sol sold the land for $90,000 cash. What is the nature of the gain
Purity Landscaping Co. usually receives a monthly phone bill for $200, in which a check is issued for immediately. However, for this month end, the bill never came.
Company ABC purchased equipment worth 11.1M Euros from an Italian co at the beginning of the year. Determine the transaction gain/loss
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd