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December 31, 2006, the software had a net realizable value equal to 90
percent of the capitalized cost. What percentage of the original
capitalized cost should be reported as the net amount on Bit's December
31, 2006 balance sheet?
Question 18
On January 1, 2001, Babson, Inc. leased two automobiles for executive
use. The lease requires Babson to make five annual payments of $13,000
beginning January 1, 2001. At the end of the lease term, December 31,
2005, Babson guarantees the residual value of the automobiles will total
$10,000. The lease qualifies as a capital lease. The i nterest 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?
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ACC 577 Week 10 Quiz (100 % Correct Answers)