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iv) Monthly rental is received from a tenant for storage space rented to him by Classique Household Furnishings & Appliances. The rental is $840,000 per annum and is received quarterly in advance. Rental relating to the quarter under review becomes due on July 1. Computer equipment, which is estimated to cost $350,000, will be acquired for cash in August. v) The manager has made arrangements with the seller to make a cash deposit of 50% of the amount upon signing of the agreement in August, with the balance to be settled in four equal monthly instalments, starting in September 2018. An investment instrument purchased by the company with a face value of $480,000 will mature on vi) July 20, 2018 and will be liquidated on that date. At the same time, quarterly interest computed at a rate of 8% % per annum will also be collected.

iv) Monthly rental is received from a tenant for storage space rented to him by Classique Household Furnishings & Appliances. The rental is $840,000 per annum and is received quarterly in advance. Rental relating to the quarter under review becomes due on July 1. Computer equipment, which is estimated to cost $350,000, will be acquired for cash in August. v) The manager has made arrangements with the seller to make a cash deposit of 50% of the amount upon signing of the agreement in August, with the balance to be settled in four equal monthly instalments, starting in September 2018. An investment instrument purchased by the company with a face value of $480,000 will mature on vi) July 20, 2018 and will be liquidated on that date. At the same time, quarterly interest computed at a rate of 8% % per annum will also be collected.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Can I gt help for part iv, v, vi tank u

iv) Monthly rental is received from a tenant for storage space rented to him by Classique Household Furnishings & Appliances. The rental is $840,000 per annum and is received quarterly in advance. Rental relating to the quarter under review becomes due on July 1. Computer equipment, which is estimated to cost $350,000, will be acquired for cash in August. v) The manager has made arrangements with the seller to make a cash deposit of 50% of the amount upon signing of the agreement in August, with the balance to be settled in four equal monthly instalments, starting in September 2018. An investment instrument purchased by the company with a face value of $480,000 will mature on vi) July 20, 2018 and will be liquidated on that date. At the same time, quarterly interest computed at a rate of 8% % per annum will also be collected.
Transcribed Image Text:iv) Monthly rental is received from a tenant for storage space rented to him by Classique Household Furnishings & Appliances. The rental is $840,000 per annum and is received quarterly in advance. Rental relating to the quarter under review becomes due on July 1. Computer equipment, which is estimated to cost $350,000, will be acquired for cash in August. v) The manager has made arrangements with the seller to make a cash deposit of 50% of the amount upon signing of the agreement in August, with the balance to be settled in four equal monthly instalments, starting in September 2018. An investment instrument purchased by the company with a face value of $480,000 will mature on vi) July 20, 2018 and will be liquidated on that date. At the same time, quarterly interest computed at a rate of 8% % per annum will also be collected.
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