Chapter 14, Problem 14.1CTDC

General accounting

General accounting question

What is your firms beginning cash balance on september 1 ? General accounting question

Option?  General accounting question

Blue Ridge Logistics acquired a truck for $75,000 at the beginning of the year. The truck has a useful life of 8 years and an estimated salvage value of $7,000. Compute the annual depreciation expense using the straight-line method.

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Financial accounting

WW Office Solution simplemented a new supply requisition system. Departments must submit requests by Thursday for next week, maintain minimum 20% buffer stock, and obtain supervisor approval for urgent orders. From 85 total requisitions last month, 65 followed timeline, 72 maintained proper buffer, and 58 met both conditions. What is the compliance rate?

On January 1, 2013, R Corporation leased equipment to Hela Company. The lease term is 9 years. The first payment of $452,000 was made on January 1, 2013. Remaining payments are made on December 31 each year, beginning with December 31, 2013. The equipment cost R Corporation $2,457,400. The present value of the minimum lease payments is$2,697,400. The lease is appropriately classified as a sales-type lease. Assuming the interest rate for this lease is 12%, what will be the balance reported as a liability by Hela in the December 31, 2014, balance sheet?