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Note: estimated usetul economic Liftspen of the Machine is 4 years.required Para Prepare a schedule of allocation of...
Turnbull Ltd has entered into an agreement to lease a machine to Abbott Ltd. Details are:...
Turnbull Ltd has entered into an agreement to lease a machine to Abbott Ltd. Details are: Length of lease 5 years Commencement date 1 July 2013 Annual lease payment, payable 30 June each year commencing 30 June 2014 $8 000 Fair value of the Machinery at 1 July 2013 $34 797 Estimated economic life of the Machinery 8 years Estimated residual value of the Machinery at the end of its economic life $2 000 Residual value at the end of...
4. Change the estimated total amount of the allocation base back to 39,000 machine-hours, so that...
4. Change the estimated total amount of the allocation base back to 39,000 machine-hours, so that the data area of you worksheet looks exactly the same as in Requirement 2. Now change the actual manufacturing overhead cost from $184,800 to $193,500. The data area of your worksheet should now look like this: 1 Chapter 3: Applying Excel 4 5 6 7 8 Data Allocation base Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost...
any ideas 2nd time asking for help 1. Prepare a schedule reflecting the allocation of the...
any
ideas 2nd time asking for help
1.
Prepare a schedule reflecting the allocation of the goodwill to the
parent and the subsidiary
2. Prepare a schedule showing the balance in the investment
account on the parent's books as of December 31, 2015
3. Prepare entries to consolidate the two entities as of
December 31, 2015 if the parent used the equity method to account
for this investment
4. If Zach has used the partial equity method to account for...
ABC is considering acquiring a machine from XYZ. It has two options; cash purchase at a...
ABC is considering acquiring a machine from XYZ. It has two options; cash purchase at a cost of Rs. 14,274,890 or a lease. The terms of the lease are as follows: The lease period is for four years from 1 January 2019 with an annual rental of Rs. 5,000,000 payable on 31 December each year. The lessee is required to pay all repairs, maintenance and other incidental costs. Lease term is extendable for a further one more year and ABC...
Swifty Inc. manufactures an X-ray machine with an estimated life of 12 years and leases it...
Swifty Inc. manufactures an X-ray machine with an estimated life of 12 years and leases it to Chambers Medical Center for a period of 10 years. The normal selling price of the machine is $445,217, and its guaranteed residual value at the end of the noncancelable lease term is estimated to be $13,500. The hospital will pay rents of $65,100 at the beginning of each year and all maintenance, insurance, and taxes. Swifty Inc. incurred costs of $274,000 in manufacturing...
Exercise 14-20 Installment note; amortization schedule (L014-3) American Food Services, Inc., acquired a packaging machine from...
Exercise 14-20 Installment note; amortization schedule (L014-3) American Food Services, Inc., acquired a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2018. In payment for the $5.9 million machine, American Food Services issued a four year installment note to be paid in four equal payments at the end of each year. The payments include interest at the rate of 11%. (EV of $1. PV of $1. FVA of $1, PVA...
Exercise 14-20 Installment note; amortization schedule (L014-3) American Food Services, Inc., acquired a packaging machine from...
Exercise 14-20 Installment note; amortization schedule (L014-3) American Food Services, Inc., acquired a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2018. In payment for the $5.9 million machine, American Food Services issued a four year installment note to be paid in four equal payments at the end of each year. The payments include interest at the rate of 11%. (EV of $1. PV of $1. FVA of $1, PVA...
George Company manufactures a check-in kiosk with an estimated economic life of 12 years and leases...
George Company manufactures a check-in kiosk with an estimated
economic life of 12 years and leases it to National Airlines for a
period of 10 years. The normal selling price of the equipment is
$299,140, and its unguaranteed residual value at the end of the
lease term is estimated to be $20,000. National will pay annual
payments of $40,000 at the beginning of each year. George incurred
costs of $180,000 in manufacturing the equipment and $4,000 in
sales commissions in...
Exercise 14-20 Installment note; amortization schedule (LO14-3) American Food Services, Inc., acquired a packaging machine from...
Exercise 14-20 Installment note; amortization schedule (LO14-3) American Food Services, Inc., acquired a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2018. In payment for the $5.9 million machine, American Food Services issued a four-year installment note to be paid in four equal payments at the end of each year. The payments include interest at the rate of 11%. (FV of $1. PV of $1. EVA of $1. PVA of...
Federated Fabrications leased a tooling machine on January 1, 2018, for a three-year period ending December...
Federated Fabrications leased a tooling machine on January 1, 2018, for a three-year period ending December 31, 2020. The lease agreement specified annual payments of $38,000 beginning with the first payment at the beginning of the lease, and each December 31 through 2019. The company had the option to purchase the machine on December 30, 2020, for $47,000 when its fair value was expected to be $62,000 a sufficient difference that exercise seems reasonably certain. The machine's estimated useful life...
4. Change the estimated total amount of the allocation base back to 39,000 machine-hours, so that the data area of you worksheet looks exactly the same as in Requirement 2. Now change the actual manufacturing overhead cost from $184,800 to $193,500. The data area of your worksheet should now look like this: 1 Chapter 3: Applying Excel 4 5 6 7 8 Data Allocation base Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost...
any
ideas 2nd time asking for help
1.
Prepare a schedule reflecting the allocation of the goodwill to the
parent and the subsidiary
2. Prepare a schedule showing the balance in the investment
account on the parent's books as of December 31, 2015
3. Prepare entries to consolidate the two entities as of
December 31, 2015 if the parent used the equity method to account
for this investment
4. If Zach has used the partial equity method to account for...
Exercise 14-20 Installment note; amortization schedule (L014-3) American Food Services, Inc., acquired a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2018. In payment for the $5.9 million machine, American Food Services issued a four year installment note to be paid in four equal payments at the end of each year. The payments include interest at the rate of 11%. (EV of $1. PV of $1. FVA of $1, PVA...
Exercise 14-20 Installment note; amortization schedule (L014-3) American Food Services, Inc., acquired a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2018. In payment for the $5.9 million machine, American Food Services issued a four year installment note to be paid in four equal payments at the end of each year. The payments include interest at the rate of 11%. (EV of $1. PV of $1. FVA of $1, PVA...
George Company manufactures a check-in kiosk with an estimated
economic life of 12 years and leases it to National Airlines for a
period of 10 years. The normal selling price of the equipment is
$299,140, and its unguaranteed residual value at the end of the
lease term is estimated to be $20,000. National will pay annual
payments of $40,000 at the beginning of each year. George incurred
costs of $180,000 in manufacturing the equipment and $4,000 in
sales commissions in...
Exercise 14-20 Installment note; amortization schedule (LO14-3) American Food Services, Inc., acquired a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2018. In payment for the $5.9 million machine, American Food Services issued a four-year installment note to be paid in four equal payments at the end of each year. The payments include interest at the rate of 11%. (FV of $1. PV of $1. EVA of $1. PVA of...
Federated Fabrications leased a tooling machine on January 1, 2018, for a three-year period ending December 31, 2020. The lease agreement specified annual payments of $38,000 beginning with the first payment at the beginning of the lease, and each December 31 through 2019. The company had the option to purchase the machine on December 30, 2020, for $47,000 when its fair value was expected to be $62,000 a sufficient difference that exercise seems reasonably certain. The machine's estimated useful life...
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