User Account

All Pages

What will be the long-term asset total

Assignment Help Cost Accounting
Reference no: EM13912607

JK company has the following balances on the 2008 B/S: current assets = 70,000, long-term assets = 250,000, current liability = 40,000, long-term debt = 130,000, and stockholders equity = 150,000. The company has an operating lease contract. It promises to pay a lessor $10,000 annually for the next three years. The company's average borrowing rate (discount rate) is 10%. If the lease is recorded as a capital lease, what will be the long-term asset total?

A) about 285,131
B) about 274,868
C) about 250,000
D) about 296,321

Reference no: EM13912607

Questions Cloud

Determine asset classes for the mutual fund : Determine asset classes for the mutual fund and compare its market performance to the Dow 30 organization. Explain how such classifications and the current investment environment affect decisions concerning portfolio composition.
Shery crow equipment company : Sheryl Crow Equipment Company sold 500 Rollomatics during 2014 at $6,000 each
Fixed manufacturing overhead costs : The company will continue to incur the total amount of its fixed manufacturing overhead costs as long as it continues to produce any amount of its only product.
An organization receives a contribution : an organization receives a contribution in-kind. Prepare journal entries, as necessary, to give them accounting recognition
What will be the long-term asset total : JK company has the following balances on the 2008 B/S: current assets = 70,000, long-term assets = 250,000, current liability = 40,000, long-term debt = 130,000, and stockholders equity = 150,000. The company has an operating lease contract. It pr..
Western manufacturing produces a single product : Prepare an appropriate performance report for the manufacturing department.
Show how the box can be used to factor n : That is, given a quadratic residue y, the box outputs an x with x2 = y (equation is modulo n). Show how the box can be used to factor n.
Find both variance and standard deviation : Complete row 3 of the table and find the mean for the random variable, "mu". Complete row 4 of the table and find both variance, and standard deviation
Appropriation for bonded : Appropriation for bonded indebtedness 200,000-Retained Earnings 400,000

Reviews

Write a Review

Cost Accounting Questions & Answers

  Prepare the necessary adjusting entries for terrell company

On May 31, 2014, Terrell Company had a cash balance per books of $6,781.50. The bank statement from Home Town State Bank on that date showed a balance of $6,804.60. A comparison of the statement with the cash account revealed the following facts.

  A manufacturing set-up has an expected usage

A manufacturing set-up has an expected usage of 50,000 units of a certain product during the next year. The cost of processing an order is $ 20 and the carrying cost per unit is $ 0.50 for one year. Lead time on an order is 5 days and the company wil..

  Dividing partnership net income

Dividing partnership net income - How much net income should be distributed to Stevens?

  Evaluate the 2010 cash-basis net income

Evaluate the 2010 cash-basis net income and evaluate the 2010 accrued-basis net income (show calculations)

  At an output level of 73000 units you evaluate that the

at an output level of 73000 units you evaluate that the degree of operating leverage is 2.90. the output rises to 78000

  Compute the simple rate of return for 2009

The Marcus Corporation purchased a piece of new equipment in January 2009 for $120,000. The equipment was depreciated using the straight line method over an 8 year life without a salvage value.

  Part abasil arrived in australia on 28 august 2013from his

part abasil arrived in australia on 28 august 2013from his usual domicile in england. he obtained a working visa that

  Variable cost per haircut and the total monthly fixed costs

Determine the variable cost per haircut and the total monthly fixed costs and compute the break-even point in units and dollars - Determine the net income, assuming 1,700 haircuts are given in a month.

  Discuss the ethical dilemma alice faces

Assuming that the equipment was purchased at the beginning of 2011, by how much would Alice's treatment of the equipment increase before tax earnings as opposed to expensing the equipment cost.

  Analyze the transaction to record the bond retirement

Describe how the bond retirement would be reported on the statement of cash flows assuming that Redstone uses the indirect method.

  Calculate depreciation on the drilling machine for 2011

Calculate depreciation on the drilling machine for 2011 and 2012 applying the typical U.S. GAAP treatment and repeat requirement 1 applying IFRS.

  1 a method of estimating bad debts expense that adds a

1. a method of estimating bad debts expense that adds a detailed examination of outstanding accounts and their length

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd