supereasy pick one japan related film and explain why you selected the film for your final essay
September 14, 2020
Scenario Analysis: Vacation Time
September 14, 2020

Ethical issue discussion

300-400 words

You are an accountant for ACME Mining Company and your CFO gives you a copy of a recent lease agreement to record. As you read the agreement, you discover the company has leased 12 trucks from World Finance Inc. The fair value of the trucks is $2.4 million. ACME Mining Company has agreed to pay $250,000 semiannually, in advance. The lease terms is 5 years, and the lessor’s implicit rate is 8%. There is no option or requirement to purchase the trucks. This all seems straightforward, especially when you remember that the company recently borrowed from a bank and agreed to a 10% interest rate. Also, you recall that the company owns some similar trucks and depreciates them over 8 years. You are about to leave the office early to meet some friends when you notice that there a contingent rental of $97,592 payable by ACME Mining Company and starting with the seventh semiannual payment if the Consumer Price Index prevailing at the beginning of the lease increases in any one of the first 3 years of the lease.

Required:

From financial reporting and ethical perspectives, discuss the issues raised by this situation.

 

Do you need a similar assignment done for you from scratch? We have qualified writers to help you. We assure you an A+ quality paper that is free from plagiarism. Order now for an Amazing Discount!
Use Discount Code “Newclient” for a 15% Discount!

NB: We do not resell papers. Upon ordering, we do an original paper exclusively for you.


The post Ethical issue discussion appeared first on Top Premier Essays.

 

"Are you looking for this answer? We can Help click Order Now"