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Rzqust [24]
4 years ago
12

Under an operating lease: (Select all that apply.)Check All That ApplyThe lessee reports amortization expense and interest expen

se separately in its income statement.The lessee reports amortization expense and interest expense separately in its income statement.The lessee reports a single amount of lease expense, which is equal to interest expense plus amortization expense, in its income statement.The lessee reports a single amount of lease expense, which is equal to interest expense plus amortization expense, in its income statement.The lessor reports a single amount of lease revenue, which is equal to interest revenue plus amortization revenue, in its income statement.The lessor reports a single amount of lease revenue, which is equal to interest revenue plus amortization revenue, in its income statement.The lessee reports lease expense on a straight-line basis and the lessor reports lease revenue on a straight-line basis over the lease term.The lessee reports lease expense on a straight-line basis and the lessor reports lease revenue on a straight-line basis over the lease term.
Business
1 answer:
Alja [10]4 years ago
3 0

Answer:

  • The lessee reports a single amount of lease expense, which is equal to interest expense plus amortization expense, in its income statement.
  • The lessee reports lease expense on a straight-line basis and the lessor reports lease revenue on a straight-line basis over the lease term.

Explanation:

An operating lease is basically renting an asset from a lessor where the lessee will pay a certain amount every period for the use of the asset.

This rent payment is equal to the interest expense plus amortization expense and will be reported in the income statement of the lessee as an expense.

This amount will also be reported on a straight-line basis for the duration of the lease term which means that even if rent increases, it will still have to be reported by the same amount over the lease period because the lease increase should have been taken into account already.

The lessor also reports lease revenue on a straight-line basis over the lease term.

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Dillon rented his personal residence at Lake Tahoe for 14 days while he was vacationing in Ireland. He resided in the home for t
zmey [24]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

5 0
3 years ago
A decrease in the supply of a good can be expected to cause ____ in the equilibrium price of the good and ____ in the equilibriu
JulsSmile [24]

Answer:

Increase, Decrease

Explanation:

A decrease in the supply results in many buyers competing for very few goods. If the demand is constant, the quantity supplied and price have an indirect relationship. A decrease in the volume of supplied results in an increase in price. Many buyers will be competing for a few products causing the equilibrium price to increase.

A decrease in supply will cause the quantity available for buyers to buy to decline. Consequently, the volume purchased will be fewer.  Equilibrium quantity will, therefore, decrease.

4 0
3 years ago
What can an organization do to reconcile the different interests of various groups impacting the organization?
lubasha [3.4K]

Organization can strike a balance between the varying interests of the different groups impacting the organization

     The project managers must adhere to the procedure to tame the multi-headed beasts on uncontrolled projects in order to strike the correct balance between meeting stakeholders' expectations and completing the projects within the allotted timetable and budget.

     t's important to identify the project's stakeholders, assess the objectives, and comprehend their interests. The project manager must align the team with a common definition of "Success" and make sure that no outside forces interfere with or demotivate the team in order for the final output to be best-in-class.

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7 0
1 year ago
Caroline pays 15% taxes on dividends and capital gains and 35% taxes on ordinary income. Three years ago, she purchased 100 shar
Lilit [14]

Answer:

The answer is: B) $175

Explanation:

Caroline made an income of $500 from this transaction and it should be taxed at ordinary income rate (35%).

Caroline´s taxes = $500 x 35% = $175

In order for Caroline to be taxed at 15% (capital gains rate) she should have sold a capital asset that she had owned for more than one year, but in this case she didn´t sell any stock.

8 0
3 years ago
Grouper Corporation has outstanding 1,900 $1,000 bonds, each convertible into 60 shares of $10 par value common stock. The bonds
natima [27]

Answer:

Explanation:

The journal entries are shown below:

1. Bonds payable A/c Dr   $1,900,000 (1,900 × $1,000)

          To Discount on bonds payable $37,000

          To Common stock $1,140,000  ($10 × 60 shares × 1,900)

          To Additional paid-in capital in excess of par $723,000

(Being the conversion of bonds is recorded and the remaining balance is credited to the Additional paid-in capital in excess of par)

4 0
4 years ago
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