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blsea [12.9K]
3 years ago
7

On January 1, 2018, Nath-Langstrom Services, Inc., a computer software training firm, leased several computers under a two-year

operating lease agreement from ComputerWorld Leasing, which routinely finances equipment for other firms at an annual interest rate of 4%. The contract calls for four rent payments of $13,000 each, payable semiannually on June 30 and December 31 each year. The computers were acquired by ComputerWorld at a cost of $90,000 and were expected to have a useful life of five years with no residual value. Both firms record amortization and depreciation semi-annually.
Required:
1. Prepare the appropriate entries for both the lessee and the lessor from the beginning of the lease through the end of 2018.
Business
1 answer:
LiRa [457]3 years ago
7 0

Answer:

Answer to the question :

On January 1, 2018, Nath-Langstrom Services, Inc., a computer software training firm, leased several computers under a two-year operating lease agreement from ComputerWorld Leasing, which routinely finances equipment for other firms at an annual interest rate of 4%. The contract calls for four rent payments of $13,000 each, payable semiannually on June 30 and December 31 each year. The computers were acquired by ComputerWorld at a cost of $90,000 and were expected to have a useful life of five years with no residual value. Both firms record amortization and depreciation semi-annually.

Required:

1. Prepare the appropriate entries for both the lessee and the lessor from the beginning of the lease through the end of 2018.

is explained in the attachment.

Explanation:

Download pdf
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Firms outside of trading areas run the risk of being shut out of the single market by the creation of a Multiple Choice ""trade
swat32

Answer:

"trading fortress."

Explanation:

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Firms outside of trading areas run the risk of being shut out of the single market by the creation of a "trade fortress." A trade fortress serves as a barrier for the exchange of goods and services.

Free trade policy includes the adoption and implementation of tariffs and quotas between countries.

Trade policies tariffs and quotas will most likely benefit domestic producers of the protected good and harm domestic consumers of the protected good as they're made to pay for the consumption of imported products. Hence, under free trade there are more societal benefits due to the specialization of domestic goods.

Tariffs can reduce both the volume of exports and imports in a country.

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2 years ago
Which of the following is generally used by companies with fewer than 50 employees?
marshall27 [118]

Answer:

D

Explanation:

5 0
3 years ago
On February 1st, H&B Bank originated a loan for $50,000 at an interest rate of 7.2%. On March 15th, an interest payment of $
irina [24]

Answer:

d. Over time

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6 0
3 years ago
The Great Depression changed attitudes toward the labor movement.
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hope this helps!!
8 0
3 years ago
Most plants want to have their supplies delivered just before they are needed to be used in production
vovangra [49]

Answer:

  True

Explanation:

The modern notion of "just in time" material delivery supports reduction of inventory and its associated costs. Plants that have sufficiently steady raw material usage will prefer supplies delivered "just in time."

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4 0
3 years ago
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