CHAPTER 21 Accounting for Leases ANSWERS TO QUESTIONS **1. The major lessor groups in the United States are banks‚ captives‚ and independents. Captives have the point of sale advantage in finding leasing customers; that is‚ as soon as a parent receives a possible order‚ a lease financing arrangement can be developed by its leasing subsidiary. Furthermore‚ the captive (lessor) has the product knowledge which gives it an advantage when financing the parents’ product. The current trend is for captives
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customers. Macro Environment Macro Environment is the factors that dictate a company’s or a business’s decisions and also affects its performance and strategies. Society The society that different people belong to may also affect the demand for rental cars. For example‚ here in Florida where we do not have the most advanced public transportation system and everything being further away‚ more people may find the need to rent cars to get from point A to B. Where as in a place with more advanced
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home. Brenda did not charge interest on the loan. Brenda was required to recognize imputed interest income and Bart had imputed home mortgage interest expense that he deducted as an itemized deduction. Would Brenda’s and Bart’s combined total income taxes likely increase or decrease as a result of the imputed interest? #23. On July 1‚ 1998‚ when Betty was 65 years old‚ she purchased an annuity contract for $108‚000. The annuity was to pay Betty $9‚000 on June 30 each year for the remainder of
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CHAPTER 21 Accounting for Leases ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems Concepts for Analysis *1. Rationale for leasing. 1‚ 2‚ 4 1‚ 2 *2. Lessees; classification of leases; accounting by lessees. 3‚ 5‚ 7‚ 8‚ 14 1‚ 2‚ 3‚ 4‚ 5 1‚ 2‚ 3‚ 5‚ 7‚ 8‚ 11‚ 12‚ 13‚ 14 1‚ 2‚ 3‚ 4‚ 6‚ 7‚ 8‚ 9‚ 11‚ 12‚ 14‚ 15‚ 16 1‚ 2‚ 3‚ 4‚ 5‚ 6 *3. Disclosure of leases. 19 2‚ 4‚ 5‚ 7‚ 8 2‚ 3‚ 5 *4. Lessors;
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PECO Universal Services – Customer Assistance Program (CAP) Application INSTRUCTIONS: Please complete the application below. Attach proof of total gross income (before taxes) for each household member including yourself‚ and sign your name at the X. PLEASE COMPLETE ALL INFORMATION IN ORDER FOR THIS APPLICATION TO BE PROCESSED. (Please Print) 1. Enter your account number‚ home phone number‚ name‚ address‚ and cell phone number 2. Enter the name of all members of your household including yourself
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Marketing and internet management | A Business Plan | AG Spot Skating Rink | | | 8/4/2010 | The purpose of this skating rink is to provide Orangeburg‚ SC with an entertainment facility for the youth. It will offer a family atmosphere and a high quality surround sound system. It will also offer group and special party rates. | Business Plan for AG Spot Skating Rink Table of Contents 1. Executive Summary 3 2. Identity 4 3. Company Mission‚ Scope and Goals 4
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Burger King’s COMPANY PROFILE HISTORICAL BACKGROUND Burger King was founded in 1954 by James McLamore and David Edgerton in Miami‚ Florida. In 1967‚ the founders sold the company to the Pillsbury Company‚ taking it from a small privately held franchised chain to a subsidiary of a large food conglomerate. In December 2002‚ Burger King was acquired by private equity funds controlled by TPG Capital‚ Bain Capital Partners and Goldman Sachs & Co. It completed a successful initial public offering in
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Indicate whether the items are permanent differences or temporary differences. For temporary differences‚ indicate whether they will create deferred tax assets or deferred tax liabilities. 1. Investments accounted for by the equity method. 2. Advance rental receipts. 3. Fine for polluting. 4. Estimated future warranty costs. 5. Excess of contributions over pension expense. 6. Expenses incurred in obtaining tax-exempt revenue. 7. Installment sales. 8. Excess tax depreciation over accounting
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recommend is Married Filing Joint. The reason for this is that the IRS has various tax breaks for married persons that file together that are unavailable if you file married filing separate. It also affect the tax rate‚ they will pay a lower rate of taxes if they file together than they would if they filed separately. A2a. Taxable and Non-Taxable Income Taxable Income for the couple would include the following items: Spouse A’s income from the partnership‚ Spouse A’s income from the part time
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business which I have chosen to open is a car rental by the name “Rent-a-Ride ”. This is a sole trader type business which focuses on providing quality cars at a very affordable rate. My target market will be people within the community. My business will employ three full time employees to rent and maintain the cars and operate the business as otherwise needed. Articles of incorporation were attained as to allow the vehicles used to obtain specialized rental insurance. This business will be operated
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