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