Answer:
With respect to the lease, Sheridan should record for 2021: interest expense is $1315176 and the depreciation expenses is 109589
Explanation:
Solution
Given that:
The Present value of lease transaction = $1643970
The useful life estimated is = 15 years
Interest rate = 8%
The interest expenses is = $1643970 *8 = 1,315176
The Depreciation expenses = $1643970 / 15 yrs = 109,598
Therefore, the interest expense is $1315176 and the depreciation expenses is 109589
Answer:
A. True
Explanation:
The line credit is a loan in which the limit is set by the bank. It can be in formal or an informal agreement which is done between the financial institution and borrower.
In this, the time period is mentioned at which the borrower returned back the money also the borrower paid the interest to the bank it also maintained the financial position of the borrower
Hence, the given statement is true
Answer:
Alexandra took the land subject to the $100,000 liability. Therefore the Alexandra’s basis in the land is $200,000.
Explanation:
in the current scenario "Dove Corporation distributes all of its property in a complete liquidation. Alexandra, a shareholder, receives land having a fair market value of $200,000". Thus, the Basis of property received in a complete liquidation is the property's fair market value on the date of distribution, or %200,000
More bankruptcies because if there is a crisis people are losing a lot of money and are more than likely filling for bankruptcies.
