PROBLEMS QUIZ # 3 ( ACCOUNTING FOR LEASES)
On December 1, 2011, Goetz Corporation leased office space for
10 years at a monthly rental of $90,000. On that date Perez paid
the landlord the following amounts:
First month's rent
SEATWORK # 3 ( ACCOUNTING FOR LEASES)
100. Lease A does not contain a bargain purchase option, but the lease
term is equal to 90 percent of the estimated economic life of the
leased property. Lease B does not transfer ownership of the
property to the less
PART TWO: FAMILY
*(character 1) hears/sees the news about recession in the news*
Father: *looks dismay, and shocked about what he just heard*
Mother: *rubs the fathers shoulder* What are you going to do now?
Father: Ill see to it. Ill make sure w
NEWS ANCHOR-KUYA AL
INTERVIEWEE 2 DANA
ROGELIOS-CALVIN AND ZAI
REPORTERS: GILLIAN, FELICE, GEL ,IRISH
1. CLASSROOM WITH CURTAIN (CIH OR CBA)
2. ICTC GLASS DOOR
NEWS ANCHOR-KUYA AL B.A. WITH NECKTI
Expected outcome of the company in adding a new product line will include
To capture at least 10% of the market share within a year and increase
by 20% over the upcoming two-year period.
To establish brand awareness and versatility throug
GONZALES , CLARISSE JOY JIMENEZ
1. Stacker Weight Loss currently pays an annual year-end and dividend of
PhP1.20 per share. It plans to increase the dividend by 5% next year
and maintain it at the new level for the foreseeable future. If the
Technical Description of the Product
Describe the product in terms of:
Components (exact measurement)
Dimensions (length, width, height)
Include figure - Technical
Illustration of the Product
THEORY QUIZ # 3 ( ACCOUNTING FOR LEASES)
Leasing equipment reduces the risk of obsolescence to the lessee,
and passes the risk of residual value to the lessor.
The FASB agrees with the capitalization approach and requires
companies to capitalize all
Ex. 21- 110Capital lease (Essay).
Explain the procedures used by the lessee to account for a capital lease.
Solution 21- 110
When the capital lease method is used, the lessee treats the lease
transactions as if the asset were being purchased. Th
SEATWORK # 2
Which of the following should be reported as a prior period adjustment?
of Depreciable Assets to Accepted Principle
December 31, 2011, Grant
The real risk-free rate, k*, is 3 percent. Two-year Treasury securities
yield 6.5 percent, while 3-year Treasury securities yield 7 percent.
The Treasury securities have a maturity risk premium = 0.1%(t - 1),
where t = the maturity of t
CASH FLOWS COMPUTATIONS QUIZ
Use the following information for questions 51 and 52.
Napier Co. provided the following information on selected transactions during 2011:
Purchase of land by issuing bonds
Proceeds from issuing bonds
Purchases of inventory
SEATWORK ( STATEMENT OF CASH FLOWS)
Use the following information for questions 106 and 107.
A company acquired a building, paying a portion of the purchase price in
cash and issuing a mortgage note payable to the seller for the balance.
106. In a stateme
Theories Statement of Cash Flows Quiz
The primary purpose of the statement of cash flows is to provide cash-basis information
about the companys operating, investing, and financing activities.
The statement of cash flows provide
Ex. 22- 77Matching accounting changes to situations.
The four types of accounting changes, including error correction, are:
a. Change in accounting principle.
b. Change in accounting estimate.
c. Change in reporting entity.
d. Error correct
1.A change in accounting principle is a change that occurs as the result
of new information or additional experience.
Errors in financial statements result from mathematical mistakes or
oversight or misuse of facts that existed when preparing the
PART 2 OF THE QUIZ
On January 1, 2008, Neal Corporation acquired equipment at a cost
of $540,000. Neal adopted the sum-of-the-years-digits method of
depreciation for this equipment and had been recording
depreciation over an estimated life of eight ye
Our target market for our product the pasta wrap will be people who are aged between 18-35
years old for college students who stay up late at night to finish their requirements for their subjects
and need something that can be prepared in an instant and b