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Answer:
The correct answer is option (b) The present value of the lease payments less the present value of the guaranteed residual value (if any)
Explanation:
For balance sheet, the liability of lease is measured as the present value of lease payments less the present value of the guaranteed residual value.
Normally, the equipment been leased by the company will record the equipment as an asset, and a liability will be recognize by the company on the balance sheet, by an amount identical to the present value of the lease minimum payments lease residual value guaranteed, if there are any.
Answer:
The answer is: Maestro's inventory turnover was 5.75 times
Explanation:
In order to find the inventory turnover we use the following formulas:
- Inventory turnover = COGS / Average inventory
- Average inventory = (beginning inventory + ending inventory) / 2
First we find the average inventory:
- Average inventory = ($35,000 + $45,000) / 2 = $40,000
Now we can calculate the inventory turnover:
- Inventory turnover = $230,000 / $40,000 = 5.75 times
