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Right Now, Inc. purchases a large piece of equipment from ARCSOFT Corp. The terms of the purchase call for Right Now to take delivery of the equipment on June 1, 2016 upon transfer of $50,000 to ARCSOFT on that

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Right Now, Inc. purchases a large piece of equipment from ARCSOFT Corp. The terms of the purchase call for Right Now to take delivery of the equipment on June 1, 2016 upon transfer of $50,000 to ARCSOFT on that same day. Additional payments of $200,000 is to be paid by Right Now to ARCSOFT on June 1, 2017 and June 1, 2018. The equipment will be usable upon delivery with no further involvement by ARCSOFT. Both companies only make adjusting entries at the end of the year. The normal borrowing rate for Right Now is 8%. What journal entries should Right Now and ARCSOFT make on: June 1, 2016 Dec 31, 2016 Dec 31, 2017 June 1, 2018 Harvey Corp is considering expanding into South America. To finance the expansion, Harvey's cost of capital is 15%. Harvey's financial analyst believes that future cash flows from the expansion will be: 2016 $140,000 2017 2018 2019 2020 to 2024 $425,000 $1,246,000 $1,389,000 $1,416,200 If the cost of expansion is estimated at $6,500,000, is the present value of the future cash flows worth more than the cost? By how much? I

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1 Journal Entries for Right Now Inc and ARCSOFT Corp JUNE 1 2016 Right Now Inc Journal Entry Equipment A c Dr 50 000 To Cash A c 50 000 To record the View the full answer


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Smith and Roberson Business Law

Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit

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