Answer:
1. Why is this an operating lease for Child Company?
The life of the asset is 10 years while the lease is only 3 years long, so it cannot be classified as a financial lease.
2. What are the amounts of the right-of-use asset and lease liability that Child Company should report on its balance sheet at December 31, 20X1?
annual lease payment = $128,000 (ordinary annuity)
PVIFA, 9%, 3 periods = 2.5313
present value = $128,000 x 2.5313 = $324,006.40
3. How much lease expense should Child Company recognize in 20X1?
lease expense = PV of lease x interest rate = $324,006.40 x 9% = $29,160.58
Answer: The correct answer is "Can vary as the result of using a fixed amount of plant and equipment more or less intensively".
Explanation: In the short run, output: Can vary as the result of using a fixed amount of plant and equipment more or less intensively.
In a short-term context, production can only vary as a result of more intensive use of the plant producing more or less intensive use of the plant producing less.
The answer is:
Traditionally, SOCIAL ENTERPRISES were always set up as non profit corporations.
Answer:
Management is the administration of an organization, whether it is a business, a non-profit organization, or a government body. It is the art and science of managing resources of the business.
Explanation:
Hope it's help
Answer:
Business interest deduction limitation does not allow net business expenses (business interest expense less business interest income) greater than 30% of the adjustable tax income of the business.
Amounts that fall into this category can be carried for Ward to future tax years for indefinite number of times until it can be applied.
Individuals exempted from business income deduction limitation include real estate and farming businesses. For these businesses they are not automatically exempted, but must elect to be exempted.
Explanation:
