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
mario62 [17]
3 years ago
5

Amdahl, Inc. leases a piece of equipment from BFF on January 1, 2018. The lease agreement calls for 5 annual payments of $33,000

to be paid by Amdahl at the beginning of the year (starting with 2018). Ownership of the equipment will transfer to Amdahl at the end of the fifth year. The explicit rate on this lease is 8%.
1. Prepare Amdhal's journal entries on January 1, 2018.
Business
1 answer:
Furkat [3]3 years ago
7 0

Answer:

See explainations below

Explanation:

There will be changes in both balance sheet and income statement:

1. Balance sheet:

At, January 1, 2018 both asset and liability will increase by the amount equal to present value of all lease payments:

Present value of all lease payments = 33,000 + 33,000/(1 + 8%) + ... + 33,000/(1 + 8%)^4 = 142,300.19

2. Profit and loss statement:

At, January 1, 2018 interest expense will increase by the amount equal to present value of all lease payments multiplied by the interest rate, or: 142,300.19 x 8% = 11,384.01

You might be interested in
What is the total cost to conduct a market research survey with a $500 base fee plus $3 per question and $1.25 per person survey
Nuetrik [128]
<span>Given- 12 questions per person, 300 people There two thing given in question fixed and variables cost- Fixed cost is= $ 500 Variable cost is- $3 per question= $ 3 *12 *300=$10800, $1.25 per person surveyed= $1.25 * 300=$375, Total cost will be= $500+$10800+$375=$11675.</span>
4 0
3 years ago
Read 2 more answers
Layla Company began making mascara in November 2018 using a single-step process. Layla incurred $42,000 for materials and $48,64
Anna35 [415]

Answer:

correct answer is   b) $2.00

Explanation:

we know here

started and completed unit  for physical = 18000

so EUP material for 100 % = 18000

and

Ending work in process for physical = 3000

so EUP material for 100 % = 3000

so total EUP material = 18000 + 3000 = 21000

and

Unit cost is here = \frac{42000}{21000}

Unit cost =  2 per unit

so correct answer is   b) $2.00

4 0
3 years ago
The consumer price index was 120 in 2013 and 126 in 2014. The nominal interest rate during this period was 8 percent. What was t
Kisachek [45]

Answer:

3 percent

Explanation:

A real interest rate is an interest rate which doesn't have impact of inflation and depicts the real cost of funds to the borrower and the real yield to the lender or an investor.

Inflation = (126-120)/120 = 5%

Real Interest Rate = Nominal Interest Rate - Inflation

                               = 8% - 5%= 3%

7 0
3 years ago
The use of anthropological techniques to study businesses and what some people call organizational culture in order to assist th
Alinara [238K]

The use of anthropological techniques to study businesses and what some people call an organizational culture to assist the business is most specifically an example of applied anthropology.

What is applied anthropology and why is it important?

Applied anthropologists use anthropological concepts and methodologies to address issues in the real world. For instance, they might assist in resolving environmental, educational, or health-related issues in local communities. They might also assist with historical interpretation in museums, national parks, or state parks.

How is anthropology used in organizational behavior?

Understanding what works and what doesn't, how individuals use technology and tools in their daily work, and how employees get meaning from their jobs are all made easier by an anthropological perspective on organizational behavior. A possibility to genuinely understand what is happening and why in an organization is provided by business anthropology.

Learn more about applied anthropology: brainly.com/question/27992203

#SPJ4

4 0
1 year ago
Dec. 1 Merchandise with a list price of $4,700 is purchased on account, terms FOB shipping point, 1/10, n/30. The seller prepaid
spayn [35]

Explanation:

The Journal entry is shown below:-

a. Merchandise inventory Dr,       $4,700

          To accounts payable                 $4,700

(Being Purchase of merchandise is recorded)

b. Accounts payable Dr,                $1,600

           To Merchandise inventory       $1,600

(Being Return of merchandise is recorded)

c.  Accounts payable Dr,                $3,100

             To Merchandise inventory        $31

                                                           ($3,100 × 1%)

              To cash account                        $3,069

(Being the amount paid)

5 0
3 years ago
Other questions:
  • 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
  • When planning to defend ideas objectively to others who may not understand or agree, what should you do before the presentation?
    10·1 answer
  • wifty Corporation has 9,200 shares of common stock outstanding. It declares a $3 per share cash dividend on November 1 to stockh
    13·1 answer
  • Outsourcing:
    10·1 answer
  • What would power of attorney be needed ?
    8·2 answers
  • _____ involves interpreting the meaning of the received messages
    7·1 answer
  • How many milliliters are in 1 quart?
    7·1 answer
  • You're the manager at company x and have been tasked with creating a plan that has the purpose of establishing specific objectiv
    8·1 answer
  • If you are working remotely for a company without any hard and fast rules, what should you discuss with your manager?
    12·1 answer
  • Which of the following types of diversification strategies is characterized by less than 70 percent of revenue coming from the d
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!