Bing’s Creation Gowns and Dresshop Rental System Introduction Systems are created to solve problems. One can think of the systems approach as an organized way of dealing with a problem. The life style became more and more complex‚ every area of human interactions was invaded by various software systems‚ such as real time‚ business‚ web-based‚ personal‚ etc. Systems are developed to satisfy a set of requirements that meet a need. A requirement that is important in some systems is that they
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Question 1 Substance over form Information in the financial statements should represent transactions in accordance with their commercial substance not merely their legal form. The accounting for leases is the application of this concept‚ as the classification of a lease as either a finance lease or an operating lease‚ depends on the substance of the transactions rather than the legal form of the contract. IAS 17 distinguishes between two types of lease transactions: A finance lease and an
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It is always difficult to terminate a business‚ especially after you have invested so much time‚ effort and money in the company. What makes it even more complex is going into business with others whom you expected to help the business succeed‚ yet it does not end up that way. For this case scenario‚ Chris and Pat Smith‚ and the two chefs‚ J. P. Martin and L. L. Miller‚ need to get together to make some tough decisions on potentially dissolving the business At Your Service. Chris and Pat Smith
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Why Alamo is the Worst Rental Car Company Top of Form Bottom of Form - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Why Alamo is the Worst Rental Car Company Over Thanksgiving my husband and I had the worst experience renting a car. The laundry list of complaints began long before we ever rented the car. In the end all I wanted was my money back. I just had to figure out how to get it back. First of all we booked the reservation for the car over the internet. A
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Case 08-4 The Bear Minimum Big Bear Power (Big Bear) is a widely held public utility company that has posted strong financial results for several years. Big Bear has positive cash flow‚ and it is in compliance with all its debt covenants. Big Bear leases a combustion turbine from Goliath Co. (Goliath) for a 10-year noncancelable term. The lease agreement is signed on December 15‚ 2010‚ and Big Bear’s right to use the turbine begins on January 1‚ 2011. Various provisions and other facts from
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1. Introduction 1.1 Company background Pigme Private Limited is a young start-up initiated on 20 October 2016 with the vision of encouraging collaborative consumption through the provision of a one-stop integrated rental service platform. The idling or under-utilized items in our home and the increased demand to trial an item before purchase or borrow for one-time usage served as a catalyst for Pigme’s conceptualization. Hence‚ Pigme’s company slogan is: “Why buy‚ when you can Pigme!”. Pigme’s founding
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Question 1 This Problem concerns the enforceability and remedies of leasehold covenants between landlords and tenants‚ and their successors in title. The ground floor lease is granted before 1 January 1996 and so the covenants are governed by a mixture of statute and common law. The first and second floor leases were granted in 2001 after the coming into force of the Landlord and Tenant (Covenant) Act 1995 and are dealt with under this statutory regime. Ground Floor On the facts the original
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Problem: The problem in the case is that there is a speculation on the activity by the Korean tenants because of lack on transparency of the lessee and details on rental agreement. This had caused ethical issues on the landlord-accountability and responsibility‚ townhouse administrator-responsibility and privacy and Korean tenants-transparency and honesty. Facts: A residential townhouse unit in an exclusive subdivision was leased to Mr. Park for a year. The lease agreement includes a provision
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STATE HOW BOTH COMPANIES SHOULD CLASSIFY THE LEASE. GIVE REASONS FOR YOUR ANSWER. Both Purple Ltd and Lemon Ltd should classify the lease as a finance lease based on the below. Present value of all future lease payments = ($8‚000 – $1‚000) X 3.8897 = $27‚228 Present value of guaranteed residual value = 50% X 7‚200 X 0.6499 Total present value = $27‚228 + $2‚340 of the Bulldozer The present value of the minimum lease payments is substantially all of the fair value of the leased
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The following appeared in a letter to the editor of the Balmer Island Gazette. "On Balmer Island‚ where mopeds serve as a popular form of transportation‚ the population increases to 100‚000 during the summer months. To reduce the number of accidents involving mopeds and pedestrians‚ the town council of Balmer Island should limit the number of mopeds rented by the island’s moped rental companies from 50 per day to 25 per day during the summer season. By limiting the number of rentals‚ the town council
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