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Paid cash of $18,000 to retire bonds payable with a face value of $20,000 and a book value of $18,300.
On October 4, 2010, Collins Company purchased 100 shares of Steph Company common stock for $64 per share as a temporary investment in securities.
Prepare the net cash flow from operating activities section of the 2010 statement of cash flows for the Verna Company.
How many shares would the company have had to issue to avoid having a decrease in cash during the year?
What would have happened if the company had not issued the note during 2010? How did the issuance of the note affect the company's debt ratio .
Acquired equipment by entering into a capital lease. The lease required payments of $5,000 in advance; the present value of the lease payments .
Discuss the disclosure requirements for the lease transaction in the notes to the financial statements of the Ballieu Company.
Prepare a partial balance sheet in regard to the lease for Timmer for December 31, 2010.
Prepare a table summarizing the lease and interest receipts that would be suitable for the Lessor Company.
Calculate the selling price implied by the lease and prepare a table summarizing the lease receipts and interest revenue earned by the lessor.
Lessee's incremental borrowing rate is 15% and it uses the straight-line method to record depreciation on similar equipment.
A table summarizing lease and interest payments that would be suitable for both lessor and lessee.
What are initial direct costs? Discuss the accounting treatment of these costs.
What is the correct classification of the lease for the lessee and lessor? Explain whether the lease meets each of the required criteria.
Identify the type of lease involved for both Scuppermong Farms and Tyrrell Equipment, and give reasons for your classifications.
Determine the classification of this lease for both the lessor and the lessee.
Prepare the journal entries for both the seller-lessee and the purchaser-lessor for 2010 to reflect the purchase of the heavy equipment by Orr.
The Efland Company leases equipment to Orange Company. Efland pays $3,000 initial direct costs in negotiating the lease.
Discuss the reasons why Jordan would want to treat the leases as sales-type instead of operating leases.
Explain how an operating lease is accounted for by the lessee, both at the inception of the lease and during the first year of the lease.
Explain how a lessee should record each minimum lease payment for a capital lease.
Explain the theoretical basis for requiring lessees to capitalize certain long-term leases.
What amount, if any, should Borman record as a liability at the inception of the lease for each of the preceding three leases?
Explain under what conditions in the second transaction the computer could fail to be shown on either United's or Pitt Steel's balance sheets at December .
What accounts will be created or affected by this transaction, and how will the lease or asset or other cost be matched with earnings?