LEASE CASE Basic Concepts: 1. On January 1, 2013, Flying High Airlines leased a new airplane for a term of 10 years. The expected life of the airplane is 20 years. There are no rights to purchase the asset at the end of the term, no bargain purchase option, and no residual value guarantee. The lease stipulates that Flying High makes annual payments of $650,000 beginning at the end of the first year (December 31, 2013). Flying High has an incremental borrowing rate of 4.5% and the fair market value
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Exercise 17-9 Requirement 1 ($ in millions) Service cost $20 Interest cost 12 Expected return on the plan assets ($9 actual, less $1 gain) (8) Pension expense $24 Requirement 2 Pension expense (calculated above) 24 Plan assets (expected return on plan assets) 8 PBO ($20 service cost + $12 interest cost) 32 Plan assets 20 Cash (given) 20 Exercise 17-10 Requirement 1 ($ in 000s)
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Polluter Corp. Case Study Polluter Corporation is a manufacturing firm in the United States registered with the Securities and Exchange Commission. Polluter Corp. operates three facilities manufacturing various household cleaning products. These products produced are sold to retail customers. The United States government funded their company with emission allowances (EAs). An emission allowance is an authorization to emit a fixed amount of a pollutant. An emissions allowance is sometimes
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Final Assignment Barbette Bridgewater February 16, 2013 Section # This paper will discuss the key concepts and topics of this course that made me a stronger candidate to enter the business world, and will discuss how this course has affected me in my professional development as a student and person as encouraging me on my academic path. The key concepts and topics of this class I have learned is being able to understand how to do a balance sheet, know the accounting concepts, when looking
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E10-2 1. Factory Machinery 2. Truck 3. Factory Machinery 4. Land 5. Prepaid Insurance 6. Land Improvements 7. Land Improvements 8. Land 9. Building E10-4 1. False; Depreciation is a process of cost allocation. 2. True 3. False; Book value differs from fair value. 4. False; Depreciation applies to three classes of plant assets: land improvements, buildings, & equipment. 5. False; Depreciation does not
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Executive Summary The aim of current report is to critically evaluate a Non-Core Asset Disposal Database recently implemented in the Organization in a Pilot mode to replace the existing Excel spreadsheet system and based on the findings to make a recommendation to Company Management whether the current system should be extrapolated all over Organization in a regular working mode or the Pilot is inefficient and should be stopped. Updated DeLone and McLean IS Success Model was used to identify
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A Rosaleira The Spanish producer of canned vegetables “A Rosaleira” wants to enter the Polish market and it is going to start its production in Poznan. The investor has assumed that he will produce two types of canned vegetables: turnip greens and tomatoes. He has to buy a building – production hall of 1,000 square meters (1,800 PLN per square meter), machinery among other (PLN 500,000) and intangible assets (115,000 PLN). He has to collect in period “0” some initial inventory to start the production
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A++PAPER;http://www.homeworkproviders.com/shop/acc-422-week-4/ ACC 422 WEEK 4 WILEYPLUS ASSIGNMENT ACC 422 Week 4 WileyPlus Assignment E11-4 (Depreciation Computations—Five Methods) Instructions From the information given, compute the depreciation charge for 2011 under each of the following methods. (Round to the nearest dollar.) (a) Straight-line. (b) Units-of-output. (c) Working hours. (d) Sum-of-the-years’-digits. (e) Double-declining-balance. P11-6 (Depletion and Extraordinary
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Food for Thoughts 1. ASC 805-10-55-2 Business combination an acquirer might obtain control of an acquire in variety of ways, cash, cash equivalents, or assets. 4million-acquisition costs. ASC 805 – 30-25-5 The consideration the acquirer transfers in exchange for the acquire includes any asset or liability resulting from a contingent consideration arrangement. 20million- contingent consideration. ASC 805-30-30-11 The portion of the fair-value based measure of the replacement award that is part
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Points Received: | 25 / 25 (100%) | | Question Type: | # Of Questions: | # Correct: | Multiple Choice | 5 | 5 | | | Grade Details - All Questions | Question 1. | Question : | (TCO C) Intangible assets are reported on the balance sheet | | | Student Answer: | | with an accumulated depreciation account. | | | | in the property, plant, and equipment section. | | | | separately from other assets. | | | | None of the above | | Instructor
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