of the automobiles will total $ 10,000 . The lease qualifies as a capital lease . The interest rate implicit in the lease is 9 %. Present value factors for the 9 % rate implicit in the lease are as follows : Babson ' s recorded capital lease liability immediately after the first required payment should be
Question 19
YIV Inc . is a multidivisional corporation which has both intersegment sales and sales to unaffiliated customers . YIV should report segment financial information for each division meeting which of the following criteria ?
Question 20
Brill Co . made the following expenditures during 2004 : What amount of these expenditures should Brill report in its 2004 income statement as research and development expenses ?
Question 1
Which of the following is a required financial statement for an investment trust fund ?
Question 2
Taxes collected and held by Franklin County for a separate school district would be accounted for in which fund ?
Question 3
During the past fiscal year , Arnett County recorded the following transactions : Receipt of $ 36,000 of intergovernmental revenues which must be used to provide medical assistance to victims of natural disasters . Investment earnings of $ 5,000 from an endowment established by the local Lions Club to subsidize summer camp for the Boy Scouts with demonstrated financial need . $ 3,000,000 in proceeds