1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
olga nikolaevna [1]
2 years ago
13

Crystal Corporation makes $2,300 payments every month for leasing office equipment. Crystal recorded a lease payment as follows:

Lease payable 1,380 Interest expense 920 Cash 2,300 Amortization expense 1,380 Right-of-use asset 1,380 Crystal must have a(n):
Business
1 answer:
alexandr402 [8]2 years ago
6 0

Crystal Corporation must have an <u>operating lease</u> as its makes $2,300 payments every month for leasing office equipment.

<h3>What is an operating lease?</h3>

An operating lease refers to a contractual agreement that permits use of an asset without actually transferring the full ownership rights to other party.

In conclusion, the firm have an operating lease as its makes $2,300 payments every month for leasing office equipment.

Read more about operating lease

<em>brainly.com/question/24460932</em>

You might be interested in
The first step in the ted five-step protocol for effective presentations is
Cerrena [4.2K]
<span>The first step in the TED five step protocol for effective presentation is, " frame your story ". This is the important step for a presentation. It indicates, first we frame our story properly. Then we proceed the other three steps.</span>
8 0
3 years ago
A sum of $46875 was lent out at simple interest and at the end of 1 year 8 months, the total amount was $50000. Find the rate of
tino4ka555 [31]

Answer:

4%

Explanation:

Simple interest is calculated using the formula

I = p x r x t

in this case, the interest I is the total amount-principal amount

I = $50,000- $46,875

=$3,125

$3,125 = 46,875 x r x 1 year 8 months

$3,125 =46,875 x r/100 x 1.67

3125=78,281.25 x r/100

$3125 x 100 = 78,281.25 x r

$312500= 78,281.25

r=312500/78,281.25

r=3.992

r=4%

5 0
3 years ago
Tom’s T.V.’s sold one of their premium products, a new 60" flat screen 3D T.V. to a customer who paid $2,000 in cash. How would
nikdorinn [45]

Answer:

Impact of $2,000 sale on accounting equation is as follow:

Accounting Equation

 Asset             =        Equity           +      Liabilities

Cash+2000        Sales+2,000            No Effect

As cash an asset for the business, so the receipt will increase the balance of assets of the company. The revenue is ultimately adjusted to equity in the form of net income after deducting all the expenses. This transaction will result in increase of equity balance by the sale amount.

Explanation:

The Following journal Entry will support my answer:

Sales amount = 2,000

As this transaction is made on cash basis the following Journal entry will be recorded for this event.

                   Dr.          Cr.

Cash       $2,000

Sales                    $2,000

5 0
3 years ago
Jim Walton perform services on credit for $2450 a debit for this transaction should be recorded to?
ki77a [65]
A) accounts receivable 

Hope this helped!
5 0
3 years ago
A very large company would be most likely to have a(n) ___ at the ahead of its accounting department.
kati45 [8]
D - Accounting manager : they supervise, monitor and evaluate all day-to-day accounting activities.

Hope that helped :)
4 0
2 years ago
Read 2 more answers
Other questions:
  • You have $5,000 to invest in a stock portfolio. Your choices are Stock X with an expected return of 15 percent and Stock Y with
    6·1 answer
  • What is it called when demand and supply are equal in price and quantity?
    13·1 answer
  • Nachman Industries just paid a dividend of D0 = $1.32. Analysts expect the company's dividend to grow by 30% this year, by 10% i
    5·1 answer
  • Parent Company holds 75 percent of Surrogate Company’s voting common shares. On December 31, 20X8, Parent recorded a loss of $20
    13·1 answer
  • True or false. Convertible preferred stock may be exchanged, at the corporation's option, for a specified number of shares of co
    13·2 answers
  • A company will need ​$60 comma 00060,000 in 88 years for a new addition. To meet this​ goal, the company deposits money in an ac
    12·1 answer
  • Evan and Rosa have two young children. Evan has a full-time job as a truck driver, and Rosa is currently applying for jobs. What
    15·1 answer
  • 1. Park Co. is considering an investment that requires immediate payment of $31,500 and provides expected cash inflows of $12,00
    9·1 answer
  • Liam is setting up folding chairs for a meeting. If he arranges the chairs in 7 rows of the same length, he has 3 chairs left ov
    5·1 answer
  • A woman decided to have a painting done of herself. She contracted in writing with an artist, who agreed to paint the woman for
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!