Assignment 1 By Jessica Gratton Daniel Mayer 6786454 Submitted to Professor Sheldon Weatherston For the course Special Topics in Financial Accounting (ADM4348) University of Ottawa February 5th‚ 2015 Lease 1 – Security System Purchased by RFC by cash at a cost of $41‚347 on January 1‚ 20X1; Lease contract signed with Customer M on January 2‚ 20X1; Two year lease with payments of $11‚300 on January 2‚ 20X1 and January 2‚ 20X2; Lease is renewable for 1 year up to three times at a cost of $9
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Chapter 3 Part 1 of 3 1) Identify and describe the two major sources of current liabilities. The two major source of liabilities‚ for both current and noncurrent liabilities‚ are operating and financing activities. Current liabilities of an operating nature—such as accounts payable and operating expense accruals—represent claims on resources from operating activities. Current liabilities such as notes payable‚ bonds‚ and the current maturities of long-term debt reflect claims on resources from financing
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Sample of Previous Exams Questions & Problems Kieso: Ch 17‚ 21‚ 24—Investments‚ Leases‚ and Full Disclosure Multiple-choice 1. The lessor capitalizes and amortizes initial direct costs for all types of leases except: a. direct-financing leases. b. operating leases. c. there are no exceptions. d. sales-type leases. 2. Johnson‚ Inc.‚ leased an asset to Raymond Corporation. The cost of the asset to Johnson was $8‚000. Terms of the lease specify four-year life for the lease‚ an annual interest rate of
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ACC/541 Thomas Gurber Client Request Week 3 January 13‚ 2014 Cayce Harris Memorandum To: Supervisor CC: Client From: Cayce Harris Date: 1/13/2014 Re: Client Request As requested‚ the following information was pulled directly from the FASB’s website in regards to Direct Financing leases and Sales-Type leases from a lessors prospective. The following describes what the lessor is responsible for when entering into and obtaining each
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Case 13-4 Application of SFAC No. 13 1) On January 1‚ 2006‚ Lani Company entered into a noncancelable lease for a machine to be used in its manufacturing operations. The lease transfers ownership of the machine to Lani by the end of the lease term. The term of the lease is eight years. The minimum lease payment made by Lani on January 1‚ 2006‚ was one of eight equal annual payments. At the inception of the lease‚ the criteria established for classification as a capital lease by the lessee were
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Competition in the Movie Rental Industry in 2008: Netflix and Blockbuster Battle for Market Leadership Although the corporate strategies implemented by Netflix and Blockbuster have allowed them to become leaders of competitive advantage in the movie rental industry‚ they sometimes encounter strategic issues that slow down their product and services process. My research of Netflix and Blockbuster will enable me to present a SWOT analysis and recommendations for each company. Netflix‚ founded in
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In Step One we will first look at the vision statements. Netflix: vision statement Our appeal and success are built on providing the most expansive selection of DVDs; an easy way to choose movies; and fast‚ free delivery. Blockbuster vision statement "Our corporate mission is to provide our customers with the most convenient access to media entertainment‚ including movie and game entertainment delivered through multiple distribution channels such as our stores‚ by-mail‚ vending and kiosks‚ online
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INFORMATION SYSYTEMS II: MODULE A- 2013 ASSIGNMENT ORIGINAL KAYAK ADVENTURES CLASS 2C CELESTE APRIL 208135049 Original Kayak Adventures Job Title: Systems Analyst Closing Date: 3 March 2013 Company: Original Kayak Adventures provides guided eco-tours and kayak rentals along the Hudson River‚ to people who enjoy nature and kayaking. OKA is ideal as there are no other kayak rental firms operating within 20 miles of OKA’s location. Job Description: Your
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THIRD DIVISION [G.R. No. 154765. March 29‚ 2007.] PEDRO T. BERCERO‚ petitioner‚ vs. CAPITOL DEVELOPMENT CORPORATION‚ 1 respondent. D E C I S I O N AUSTRIA-MARTINEZ‚ J p: Before the Court is a Petition for Review on Certiorari under Rule 45 of the Revised Rules of Court assailing the Decision 2 dated February 11‚ 2002 of the Court of Appeals (CA) in CA-G.R. CV No. 56484 which set aside the Decision 3 dated May 27‚ 1996 of the Regional Trial Court‚ Branch 88‚ Quezon City (RTC-Branch 88) in Civil Case
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3M3‚ Group #5 Bautista‚ Shaira Dalican‚ Annesherica Flores‚ Carl Michael Seno‚ Charina Fernandez vs. Amagna G.R. No. 152614 (September 30‚ 2009) 601 SCRA 330-350 Facts: Salvador A. Fernandez‚ the lessee‚ and Cristina D. Amagna‚ the lessor‚ had a verbal lease agreement on a monthly basis. A lease on a month-to-month basis provides for a definite period and may be terminated at the end of any month by failure of the lessee to pay the rents due for a particular month that is stipulated under Article
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