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
spin [16.1K]
3 years ago
14

At January 1, 2019, Alpha leased restaurant equipment from Spring Corporation under a six-year lease agreement in a finance leas

e. The lease agreement specifies annual payments of $20,000 beginning January 1, 2019, the beginning of the lease, and at each December 31 thereafter through 2023. The equipment was acquired recently by Spring at a cost of $120,000 and was expected to have a useful life of eight years with no salvage value at the end of its life. Spring seeks a 5% return on its lease investments. The total decrease in earnings (pretax) in Alpha December 31, 2019, income statement would be:
Business
1 answer:
andrey2020 [161]3 years ago
7 0
Under 6 years ago in 2019 leases out
You might be interested in
Kevin bought 265 shares of Intel stock on January 1, 2019, for $76 per share, with a brokerage fee of $165. Then, Kevin sells al
garri49 [273]

Answer:

$2800

Explanation:

To find the Gain or loss on the sell of shares we jus need to deduct cost of purchasing and brokerage fee from sale proceeds

12 DECEMBER 2019

Gain/loss = Sales proceeds- Total Cost to purchase - Cost to sell

Gain/loss= ($88 x 265) - $20,305 - $215

Gain/loss= $23,320 - $20,305 - $215

Gain/loss= $2800

WORKINGS

Purchase 1 Jan 2019

265shares x $76per share =  $20,140

Total cost to purchase = $20,140 + $165(brokerage fee)

Total cost to purchase =  $20,305

Cost to sell = $215(brokerage fee)

3 0
3 years ago
The following transactions have been journalized and posted to the proper accounts: 1. Mark Call invested $7,000 cash in his new
goblinko [34]

Answer:

$6,450

Explanation:

Calculation to determine the balance in Cash for this design service business

Using this formula

Cash balance=Cash Amount invested+Cash Received-Rent- Equipment purchased-Supplies

Let plug in the formula

Cash balance=$7,000+$3,000-$700-$2,000-$850

Cash balance=$6,450

Therefore the balance in Cash for this design service business is $6,450

8 0
3 years ago
Purchased goods for $4,100 from Diamond Inc. with terms 2/10, n/30. 5 Returned goods costing $1,100 to Diamond Inc. for credit o
bazaltina [42]

Answer: $3,940

Explanation:

Purchase from Diamond

The company received a discount of 2% because they paid within 10 days as per the terms of the sale.

Cost of inventory from Diamond:

= (Cost of goods - Returns) * (1 - 2%)

= (4,100 - 1,100) * 98%

= $2,940

Purchase from Club

Discount period expired so the full $1,000 is paid.

Total inventory cost:

= 2,940 + 1,000

= $3,940

4 0
3 years ago
Today, money comes in many different forms. When you go to purchase something at a store, you pay money in the form of cash, a c
seropon [69]

Answer:

The Tulip Mania in Holland went to a economic collapse in the value of Tulip bulbs in 1637. Stating this, even though, it didn't affect the Dutch economy at the time, since the Dutch Republic was the leading economy in the 17th century. Stating this, if Holland was did not possess financial stability, the following potential problems might occur:

1. The entire Dutch Republic might go into a depression, making every form of  consumable and necessities inflated and money invaluable.

2. Might lead to a higher rate of unemployment, consequently resulting in other harmful factors like death.

3. Lastly, stating all of this, it would push back development for the Dutch and slow down progression.

Explanation:

I tried my best :)

7 0
3 years ago
How often will you receive a statement for your checking account?
Firdavs [7]
I believe  that you would get a statement for your checking account monthly because you need to know how much money get withdraw ed and how much is left.
7 0
3 years ago
Other questions:
  • Zen Corp, an Australian company, and Pluto Inc, an American company, entered into a one-time contract to build an elevated expre
    14·1 answer
  • Gary and Wilma Johnson plan to open a bus tour business taking people from their small City to historic sites along the east coa
    5·2 answers
  • Suppose a period of continuous political instability leads to people to believe that the economy will slide into a deep recessio
    8·1 answer
  • When you know you cannot pay your debts, which of the following should you do?
    5·1 answer
  • What factors in society have promoted careers in early childhood?
    14·1 answer
  • Which of the following statements is FALSE? A. Individual investors should be involved in choosing a mutual fund because they kn
    12·1 answer
  • Trout farming is a perfectly competitive industry and all trout farms have the same cost curves.
    15·1 answer
  • National Geographic is replacing an old printing press with a new one. The old press is being sold for $350,000 and it has a net
    9·1 answer
  • The following information came from the income statement of the Wilkens Company at December 31, 2017: sales revenue $1,800,000;
    10·1 answer
  • The steady growth line best supports which conclusion about the economy
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!