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Wilson Foods Corporation leased a commercial food processor on September 30, 2011. The five-year lease agreement calls for Wilson to make quarterly lease payments of $195,774, payable each September 30, December 31, March 31, June 30, with the first payment at September 30, 2011. Wilson's incremental borrowing rate is 12%. Wilson records depreciation on a straight-line basis at the end of each fiscal year. Wilson recorded the lease as follows:
Required:
What would be the pretax amounts related to the lease that Wilson would report in its statement of cash flows for the year ended December 31,2011?
use a selected company or your current work environment to identify at least one cost or expense that would fit under
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Bell Company makes fax machines. Currently Bell makes all components of the fax machine in house. An outside company has offered to supply one component, part number B48 for $8 each. Bells uses 15,000 of these components per years. Costs of B48 are a..
Based on this information, how much product cost would be allocated to cost of goods sold and ending inventory on the year end financial statements, assuming use of
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