Accounting Assignment Help

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Aquarius Incorporated

Question 1 Aquarius Incorporated (AI) uses leases as a method of selling its products. In early 2011, AI completed construction of a passenger ferry for use between Manhattan and Staten Island. On April 1, 2011, the ferry was leased to the Manhattan Ferry Line on a contract specifying that ownership of the ferry will transfer to the lessee at the end of the lease period. Annual lease payments do not include executory costs. Other terms of the agreement are as follows: Original Cost of the ferry                               $1,500,000 Fair Value of ferry at the lease date                $2,107,102 Lease Payments (paid in …

Sales Variance Analysis

    Sales Variance Analysis         Topic                       :       Sales Variance Analysis Student Name         : Student ID Number : Professor Name       : Submission Date     :       INDEX SUMMARY Table of contents Executive Summary of the Project – Sales Variance Introduction Report – Sales Variance General Motors Company Revenue Analysis – General Motors Company Recommendations & Conclusion References     Executive Summary In today’s era, budgeting has become the most important parameter of measuring success & growth factor for the corporate. These budgets are prepared by the Steering committees. These budgets are proposed by the committee which …

Accounts of Crystal Company (CC)

The following account balances were drawn from the financial records of Crystal Company (CC) as of January 1, 2013. Assets, $14,000; liabilities, $4000.; common stock, $7000.; and retained earnings, $3000. CC has agreed to pay the creditors $400 of interest per year. Further, CC agrees that for the 2013 fiscal year any annual earnings remaining after the interest charges will be paid out as dividends to the owners.   Required: Assuming CC earns a before interest expense recognition profit of $900 during 2013, determine the amount of interest and dividends paid   Solution Assets= $14000 Liabilities= $4000 Equity= Assets-Liabilities=$14000-$4000=$10000 Common …