Answer:
Explanation:
1.Amount to be paid Annually to fell leasing Company = $10,000.
Incremental rate of borrowing = 11%
Lease Period = 5 yrs.
2. Value of lease equipment as on 1st October 2017 i.e., date of lease.
= 10,000 * (PVOA) = (11* for 5 years)
=10,000 * 3.6959 (using -PVAF table)
= $ 36,959
Factors are used according to the table of PVAF
3.Lease liability as on 31-12-2017
= 10,000 * PVAD (11 * 4 years) [since 4 years in these)
= 10,000 * 3.44371
= $ 34,437.10
Lease liability as on 31st Dec 2018
= 10,000 * PVAD (11% 3 years) (still 3 yrs left as on 31-12 -2018)
= 10,000 * 2.71252 = $ 27,125.20
Answer:
i dont know sorry for dis but i dont know wat else to do
Answer:
The amount of the impairment loss for this asset is <u>$110,000</u>
Explanation:
A assets is impaired when the fair market value of that assets lowers than the book value of the asset.
To calculate the impairment of an assets following formula is used
Impairent = Book value of Asset - fair market value of the asset
Placing values in the formula
Impairent = $700,000 - $590,000
Impairent = <u>$110,000</u>
Answer:
C) legal component
Explanation:
When Jane got the job at Incogyn Inc she signed a contract that states she would receive $7,500 after all taxes are paid. Instead she was paid $7,230.
This is a misinterpretation of information, breach of the contract between Jane and Incogyn so the loss incurred was as a result of legal component of Incogyn Inc's environment.
When companies make deductions not previously agreed upon, the information should be passed along to the employees to avoid legal action.
Answer:
1. Debit
2. Debit
3. Credit
4. Credit
5. Debit
6. Debit
7. Credit
8. Credit
9. Credit
10. Credit
Explanation:
In Financial accounting, debit refers to an entry made which would either increase an expense or asset account; therefore, decreasing an equity or liability account.
Credit refers to an entry made which would either increase an equity or liability account; therefore, decreasing an expense or asset account.
Generally, debit is an accounting entry which is made to the left of an account while credit is an accounting entry which is made to the right of an account. The standard rule is that, when a credit decreases an account, the opposite account should be increased with a debit.
1. Decrease in Notes Payable: Debit
2. Increase in Dividends: Debit.
3. Increase in Common Stock: Credit
4. Increase in Unearned Rent Revenue: Credit
5. Decrease in Interest Payable: Debit
6. Increase in Prepaid Insurance: Debit
7. Decrease in Salaries and Wages Expense: Credit
8. Decrease in Supplies: Credit
9. Increase in Revenues: Credit
10. Decrease in Accounts Receivable: Credit
