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Lubov Fominskaja [6]
4 years ago
6

The city of Plainview sold its maintenance facility in an all-cash transaction and used the proceeds to improve the city’s finan

cial position. The city then leased the building from the new owner on a non-cancellable basis. The city will be responsible for the maintenance and upkeep of the facility. These transactions illustrate:
A) both an operating lease and a sale and leaseback.

B) an operating lease.

C) a sale and leaseback.

D) a fully amortized lease.

E) a leveraged lease.
Business
1 answer:
Whitepunk [10]4 years ago
8 0

Answer:

The correct option is C,a sale and leaseback

Explanation:

A sale and leaseback is financing arrangement where the business owning an asset sells the asset for cash and leases back the asset in order to continue to benefit from its usage,a good question to ask would be ,what has happened in actual terms?

In clear terms,The City of Plainview has used its maintenance facility as collateral for a borrowing which is cash received in the sale and leaseback transaction.

In effect, a liability to the extent of the cash received should recorded,as this depicted the substance over form concept in accounting,where the true impact of transactions takes precedence its mere legal form

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Over the last week, you had 50 customers who bought a total of 40 hotdogs at $2.00, 10 grilled cheeses at $4.00, and 5 cheesebur
kobusy [5.1K]

$3.20

Take the total sales divided by total customers.

Sales of hotdogs 40* $2 = $80

of grilled cheese 10* $5 = $50

of cheeseburgers 5 * $6 = $30

Total sales $160/50 customer = $3.20/per customer

4 0
3 years ago
Bi-Lo Traders is considering a project that will produce sales of $44,800 and have costs of $25,700. Taxes will be $4,500 and th
Mumz [18]

Answer:

$10,700

Explanation:

Operating cash flow is computed as;

= Net income + non cash expenses - outlay in working capital

First, we'll determine the net income

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Net income = $10,150

Operating cash flow = $10,150 + $2,650 - $2,100 = $10,700

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3 years ago
She expresses her concern to a senior human resources manager. this method of expressing concern about an instance of illegal em
Sergeu [11.5K]

This method of expressing concern to a senior human resources manager about an instance of illegal employment through proper channels is known as <u>opposition</u>.

A human resources manager has a lot of functions such as, selecting employees, recruiting, inducting employees, providing orientation, imparting training, appraising the performance of employees, motivating employees, giving compensation and benefits, etc.

So in an organization, if there are any concerns regarding, for instance illegal employment, then the human resources manager is approached. Thus, this method of expressing concern through proper channels is known as opposition.

Hence, the opposition is a disagreement with something, often by speaking or fighting against it.

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5 0
2 years ago
Andrew Industries purchased $165,000 of raw materials on account during the month of March. The beginning Raw Materials Inventor
Y_Kistochka [10]

Answer:

d. $141,000

Explanation:

As the following information is given

Purchase of raw material = $165,000

Beginning Raw material balance = $22,000

Completed direct material = $141,000

Completed indirect material = $13,000

Since the work in progress includes only direct material i.e $141,000 as indirect material is allocated to the overhead account. Therefore, only $141,000 of raw material is transferred to work in process account

So other information which is mentioned is ignored

3 0
3 years ago
Privett Company
aleksandrvk [35]

Answer:

$130,032

Explanation:

Calculation to determine the amount of quick assets

Using this formula

Quick assets=Accounts receivable +Cash+Marketable securities

Let plug in the formula

Quick assets=$74,771+$24,116+31,145

Quick assets= $130,032

Therefore the amount of quick assets is $130,032

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3 years ago
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