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Does Macy's obtain more financing through notes, bonds, or commercial paper? Are required debt payments increasing or decreasing over time?
How is interest determined in a capital lease transaction? How does the approach compare to other forms of debt?
The present value of the minimum lease payments for both the lessor and lessee is $5.2 million.
What are executory costs? How are they accounted for by the lessee in a capital lease when paid by the lessee?
What circumstances are contingent rentals included or excluded from minimum lease payments?
When are initial direct costs recognized in an operating lease? In a direct financing lease? In a sales-type lease? Why?
In a sale-leaseback transaction the owner of an asset sells it and immediately leases it back from the new owner.
What are the guidelines for determining when a material amount of land is involved in a lease?
Could a finance (capital) lease under IFRS be classified as an operating lease under U.S. GAAP? Explain.
The 2013 annual report of the Sonic Corporation reported minimum lease payments receivable of $1,701,000 and a net investment in direct financing leases .
What would be the amount of interest revenue the lessor would record in conjunction with the second quarterly payment at October 1?
What would be the pretax amounts related to the lease that the lessee would report in its income statement for the year ended December 31?
What would be the amounts related to the lease that the lessor would report in its income statement for the year ended December 31?
The computers were acquired by ComputerWorld at a cost of $90,000 and were expected to have a useful life of six years with no residual value.
Determine the liability for refundable deposits to be reported on the December 31, 2016, balance sheet
This entire balance will be replaced by the issuance of long-term debt or will continue to be refinanced under existing long-term credit facilities.
How would Sprint report the debt in its balance sheet if it reported under IFRS? Why?
What is the specific citation that describes the guidelines for determining when an expense and liability should be accrued for a contingent loss?
Prepare journal entries that summarize sales of the awnings (assume all credit sales) and any aspects of the warranty that should be recorded during 2016.
An intense investigation indicated that a product recall is virtually certain, estimated to cost the company $2 million.
What is the bad debt expense that Manda Panda should report in its 2016 income statement?
At April 1, 2017, the Food and Drug Administration is in the process of investigating allegations of false marketing claims by Hulkly Muscle Supplements.
Prepare the year-end entries for any amounts that should be recorded as a result of each of these contingencies and indicate whether a disclosure note.
Late in 2016, a settlement was reached with state authorities to pay a total of $600,000 to cover the cost of violations.
Does the excerpt describe a loss contingency? Under what conditions would Dow accrue such a contingency?