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I am Lyosha [343]
4 years ago
6

imhoff company leases a new building form noble construction, inc. The present value of the lease payments is $700000. The lease

is a finance lease. Prepare the journal entry that the lesse should make to record this transaction.
Business
1 answer:
Free_Kalibri [48]4 years ago
3 0

Answer:

Dr right-of-use asset   $700,000

Cr lease liability                               $700,000

Explanation:

The company upon entering into the finance lease would have to show the lease as an asset(right-of-use asset) as well as the lease liability(present value of lease obligations owed to the lessor).

As a result, the company would debit right-of-use asset with $700,000 while lease liability is also credited with the same amount

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<h3>What are labor unions?</h3>

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They are responsible for speaking on behalf of employees in terms of work conditions and pay.

Read more on labor unions here:brainly.com/question/881501

6 0
3 years ago
Indicate the most useful scenario to use for each of these market baskets. Consumer Price Index: Examining price changes that mi
Helga [31]

Answer:

Consumer Price Index -  Measuring the cost of living for a typical consumer.

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3 0
4 years ago
Many small businesses choose to outsource their payroll activities to firms that specialize in providing payroll services. Dolor
natita [175]

Answer:

revenue cycle

Explanation:

Dolores Yu provides a payroll processing business. According to question, service has been rendered and now its time to collect bills for those service.

Since revenue cycle is capturing of bills and payment for product or service rendered. The work mentioned in the problem is part of revenue cycle.

5 0
3 years ago
Division A of Chacha Company has sales of $140,000, cost of goods sold of $83,000, operating expenses of $43,000, and invested a
KiRa [710]

Answer:

d. 0.93

Explanation:

Investment turnover is a measurement of how a company is able to generate revenue as a result of using the money invested in the company.

Investment turnover is computed by

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Sales = $140,000

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Investment turnover = $140,000 ÷ $150,000

Investment turnover = 0.93

Therefore, investment turnover for Division A is 0.93

6 0
3 years ago
Permanent product measurement may be more accurate, complete, and continuous for all of the following reasons except: a. The obs
CaHeK987 [17]

Answer:

b. The behavior definitions are more precise.

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8 0
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