The present value of the minimum lease payments ($31‚000 X 4.16986 = $129‚266) is greater than 90% of the FV of the asset (90% X $138‚000 = $124‚200). Therefore‚ Callaway should classify the lease as a capital lease. BRIEF EXERCISE 21-2 Leased Equipment 150‚000 Lease Liability 150‚000 Lease Liability 43‚019 Cash 43‚019 BRIEF EXERCISE 21-3 Interest Expense 29‚530 Interest Payable [($300‚000 – $53‚920) X 12%] 29‚530 Depreciation Expense 37‚500 Accumulated Depreciation—Capital
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that sells‚ rents‚ and provides parts and service for equipment and engines to customers in Canada‚ South America and the United Kingdom. Finning is Caterpillar’s largest dealer. The company’s main line of business includes new and used equipment sales‚ customer support services (CSS)‚ and equipment rental. Finning owns fleets of equipment for short-term rental and long-term rental‚ from items ranging from hand tools to smaller Caterpillar equipment such as mini-excavators and skid-steer loaders. The
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Grear Rafting Company Income Statement For the Year Ended December 31‚ 2008 Revenue $1‚048‚000 Rental Cost of Rafts and Camping Equipment (208‚600) Meals Provided to Rafters (314‚400) Advertising Expenses (50‚000)
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efficient. Figure 7 provides an overview of the LBO transaction‚ including a time line of key events. Background: Hertz says it is the world’s largest general use car rental company‚ with approximately 8‚100 locations in about 145 countries. Hertz also operates an equipment rental company with about 380 locations worldwide‚ although car rentals accounted for 80 percent of 2007 revenues. Ford Motor Co. had purchased an ownership stake in Hertz in 1987 and purchased the company outright in 1994. CD&R executives
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Name_____________________Phone Number________________Cell Number______________ Mailing Address__________________________________________________________________ Email Address___________________________________________________________________ Rental Agreement Terms Client Understands 1. 2. 3. 4. Accessibility for the photo booth requires that there are no stairs or obstacles that will make setup and delivery unachievable. It is the responsibility of the client to notify Smileloop of
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c. Multiplier Method 4. Advertisements and Promotions 5. Licensing and Insurance E. Tools and Equipment Needs 1. Determining Equipment Needs 2. Front of the House 3. Back of the House 4. Transporting Equipments III. Catering Personnel and their Responsibilities A. Staffing of Personnel B. Catering Staffs C. Personnel Ethics
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(textbook) Comprehensive problem: E21-11 (Amortization Schedule and Journal Entries for Lessee) Grady Leasing Company signs an agreement on January 1‚ 2012‚ to lease equipment to Azure Company. The following information relates to this agreement. 1. The term of the noncancelable lease is 5 years with no renewal option. The equipment has an estimated economic life of 5 years. 2. The fair value of the asset at January 1‚ 2012‚ is $90‚000. 3. The asset will revert to the lessor at the end of the lease
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2008 IT-RELATED INDUSTRIES IT-Producing Industries Computer and peripheral equipment manufacturing Communications equipment manufacturing Semiconductor and other electronic component manufacturing Software publishing Information and data processing services Computer systems design and related services IT-Using Industries Construction Machinery Motor vehicles bodies and trailers and parts Other transportation equipment Miscellaneous manufacturing Printing and related support activities Wholesale
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Executive Summary Yuantong Car Group is the biggest car marketing group in Zhejiang. This project’s aim is to open a fast car care store of Yuantong Car Group in the western part of Hangzhou in order to offer best service and hospitality to drivers. Our market survey shows that there is an increasing number of private cars in Hanghzou. And a fast car care store will be very promising. Yuantong Fast Car Care Store will be located on Fengtan Road where there are some big residential areas，people
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Fee Setting Calculating Fixed Costs‚ Variable Costs‚ and Break-Even Point for a Program Proposed Seminar Budget 1. Conference room rental $175.00 $ 175.00 2. Audiovisual equipment Rental $75.00 3. 4 presenters @ $500 $2‚000.00 4. 45 workbooks @ $15
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