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Klio2033 [76]
3 years ago
12

Consider a transaction that has three parties: (1) JWCJR Corp. (JWCJR) and its owner, John W. Cumberledge, Jr., (2) Bottomline S

ystems, Inc., and (3) Colonial Pacific Leasing Corp. JWCJR/Cumberledge, an autobody shop and its owner, sought a computer and software package that would allow the shop to generate estimates for insurance companies and improve the way the shop was managed. Bottomline demonstrated a computer and software system to JWCJR/Cumberledge. JWCJR/Cumberledge decided to obtain the system Bottomline demonstrated and subsequently entered into an agreement with Colonial Leasing. Colonial Leasing then purchased equipment from Bottomline. JWCJR/Cumberledge agreed to make payments to Colonial Leasing. What kind of lease do these facts indicate? If the computer system does not work, why does it matter what kind of lease exists? [Colonial Pacific Leasing Corp. v. JWCJR Corp., 977 P.2d 541 (1999).]
Business
1 answer:
EleoNora [17]3 years ago
6 0
the answer is c because the bottom line systems inc.
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Answer:

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Explanation:

The combined turnover is the sum  of the turnover for last year and the turnover after the investment opportunity is taken.

Combined turnover = turnover last year + turnover from the new investment opportunity.

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When we compare the deltas of the Home (a Developed economy) and the Host (an Emerging economy), it is a best practice to expect
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2 years ago
Stan, a salesperson for Trucks & Autos, promises Uri a certain car will give him a "smooth ride." Stan offers a test drive,
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Cheers.

4 0
3 years ago
Owner made no investments in the business, and no dividends were paid during the year. Owner made no investments in the business
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Answer:

scenario 1

owner made no investment in the business and no dividend were paid during the year,<em> there may be no income or net loss incurred by the business. there is no decrease or increase in equity.</em>

scenario 2

owner made no investments in the business but dividend were $700 cash per month, <em>the net income earned during the year equal $700*12 = $8,400.</em>  <em>There is no changes in equity</em>

scenario 3

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scenario 4

Dividend were $700 cash per month and the owner invested additional $35,000 cash in exchange for common stock.  <em>The net Income earned will $8,400 while $35,000 will added to equity as additional capital.</em>

Explanation:

5 0
3 years ago
On January 1, 2018, Splash City issues $500,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and
Aleonysh [2.5K]

Answer:

Date                    Interest      Interest        Amortization       Bond's

                          payment    expense      bond discount     book value

Jan. 1, 2018                                                                            457,102

June 30, 2018    22,500     23,572.45     1,072.45             458,174.45

Dec. 31, 2018      22,500     23,572.45     1,072.45             459,246.90

Assuming you are using a straight line amortization of bond discount, then the amortization per coupon payment = $42,898 / 40 = $1,072.45

January 1, 2018, bonds are issued

Dr Cash 457,102

Dr Discount on bonds payable 42,898

   Cr Bonds payable 500,000

June 30, 2021, first coupon payment

Dr Interest expense 23,572.45

    Cr Cash 22,500

    Cr Discount on bonds payable 1,072.45

December 31, 2021, second coupon payment

Dr Interest expense 23,572.45

    Cr Cash 22,500

    Cr Discount on bonds payable 1,072.45

If the company uses the effective interest method, the numbers vary a little:

amortization of bond discount on first coupon payment:

($457,102 x 5%) - ($500,000 x 4.5%) = $22,855.10 - $22,500 = $355.10

Journal entry to record first coupon payment:

Dr Interest expense 22,855.10

    Cr Cash 22,500

    Cr Discount on bonds payable 355.10

amortization of bond discount on second coupon payment:

($458,174.45 x 5%) - ($400,000 x 4.5%) = $22,908.72 - $22,500 = $408.72

Journal entry to record second coupon payment:

Dr Interest expense 22,908.72

    Cr Cash 22,500

    Cr Discount on bonds payable 408.72

7 0
3 years ago
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