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 July 1, 2008, Falk Company signed a contract to lease space in a building for 15 years. The lease contract calls for annual (prepaid) rental payments of $100,000 on each July 1 throughout the life of the lease and for the lessee to pay for all additions and improvements to the leased property. On June 25, 2013, Falk decides to sublease the space to Ryan & Associates for the remaining 10 years of the lease-Ryan pays $240,000 to Falk for the right to sublease and it agrees to assume the obligation to pay the $100,000 annual rent to the building owner beginning July 1, 2013. After taking possession of the leased space, Ryan pays for improving the office portion of the leased space at a $150,000 cost. The improvements are paid for by Ryan on July 5, 2013, and are estimated to have a useful life equal to the 16 years remaining in the life of the building.
2.Prepare Ryan's year-end adjusting entries required at December 31, 2013. (Do not round your intermediate calculations.) (a) To amortize the $240,000 cost of the sublease.Record the year-end adjusting entry for the amortization expense of the leasehold.Dec 31Rent Expense =Accumulated amortization-Leasehold =
Dec 31(b) To amortize the office improvements.Record the year-end adjusting entry for the amortization expense of the leasehold improvements.
Amortization expense-Leasehold Improvements =Accumluated amortization - Leasehold Improvements =
Dec31(c) To record rent expenseRecord the year-end adjusting entry for the rent expense.
Rent Expense =
EOQ
LEV;LRV
The following details were extracted from the standard cost card of a component: Raw Materials 2.82 Kgs @ Rs.4.80 Kg. Direct Labour Type I 6
Master Budget Framework The master budget is the overall quantifications of the budgeting plan. In this, functional budgets are not corporate. A functional budget is a budget
Identify the individual cost components and the total cost of delivering the product from supplier to retailer. Identify each cost in terms of the incremental addition to the pro
The following are three independent situations where the reporting entity for which financial statements are being prepared are underlined. Every company has a December 31, 2012 ye
Factory Overhead Budget This budget represents the forecasts of each the production variable and fixed and semi-variable overheads to be incurred throughout the budget period.
Pecos Canyon Winery is a small vineyard/winery located in the Big Bend area of West Texas. The initial cabernet grape vines were planted in the spring of 2004 with the first wine p
Limitations of CVP Analysis The make use of the basic CVP model is just only relevant to planning and decision-making in an activity range whether the basic cost and revenue b
Are non-profit and governments required to depreciate assets? Why or why not? Would it make sense for them to use double declining balance? Is there a difference between a non-p
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