On January 1, 2017, Dwyer Company leases space for a donut shop. The lease is for five years with payments to be made at the beginning of each year. The lease calls for Dwyer to pay $10,000 on January 1, 2017, $11,000 on January 1, 2018, $12,500 on January 1, 2019, $14,000 on January 1, 2020, and $16,000 on January 1, 2021. Dwyer has adopted early ASC 842 and has appropriately classified the lease as an operating lease. Dwyer has a calendar reporting year and an incremental borrowing rate of 8%. Dwyer uses straight-line depreciation for its long-lived assets. Ignore current and noncurrrent classification for this exercise. Use tables (PV of 1, PVAD of 1, and PVOA of 1) (Use the appropriate factor(s) from the tables provided.) Required:
What journal entries should Dwyer make at January 1, 2017, to record the effects of the lease?
Prepare Dwyer’s amortization table for the leased shop.
What journal entries would Dwyer make on December 31, 2017, to record the effects of the lease?
What is the balance of the right-of-use asset and the lease obligation on January 1, 2019, after Dwyer makes the rent payment?
What would be the balance of the right-of-use asset and the lease obligation on January 1, 2019, after Dwyer makes the rent payment under IFRS 16?

Tandard product costs deerfield company manufactures product m in its factory. production of m requires 2 pounds of material p, costing $4 per pound and 0.5 hour of direct labor costing, $10 per hour. the variable overhead rate is $8 per direct labor hour, and the fixed overhead rate is $12 per direct labor hour. what is the standard product cost for product m? direct material answer direct labor answer variable overhead answer fixed overhead answer standard product cost per unit answer

Selected transactions of the carolina company are listed below. classify each transaction as either an operating activity, an investing activity, a financing activity, or a noncash activity. 1. common stock is sold for cash above par value. 2. bonds payable are issued for cash at a discount

Alpha company uses the periodic inventory system for purchase & sales of merchandise. discount terms for both purchases & sales are, 2/10, n30 and the gross method is used. unless otherwise noted, fob destination will apply to all purchases & sales. the value of inventory is based on periodic system. on january 1, 2016, beginning inventory consisted of 350 units of widgets costing $10 each. alpha prepares monthly income statements. the following events occurred during the month of jan.: dateactivitya.jan. 3purchased on account 350 widgets for $11 each.b.jan. 5sold on account 400 widgets for $30 each. paid freight out with petty cash of $150.c.jan. 10purchased on account 625 widgets for $12 each.d.jan. 11shipping cost for the january 10 purchased merchandise was $400 was paid with a cheque by alpha directly to the freight company.e.jan. 12returned 50 widgets received from jan. 10 purchase as they were not the correct item ordered.f.jan. 13paid for the purchases made on jan. 3.g.jan. 21sold on account 550 widgets for $30 each. paid freight out with petty cash of $250.h.jan. 22authorize credit without return of goods for 50 widgets sold on jan. 21 when customer advised that they were received in defective condition.i.jan. 25received payment for the sale made on jan. 5.j.jan. 26paid for the purchases made on jan. 10.k.jan. 31received payment for the sale made on jan. 21.use this information to prepare the general journal entries (without explanation) for the january events. if no entry is required then enter the date and write "no entry required."