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sukhopar [10]
3 years ago
11

Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2013. Edison purchased the equipm

ent from International Machines at a cost of $112,080.
Related Information:

Lease term 2 years (8 quarterly periods)
Quarterly rental payments $15,000 at the beginning of each period
Economic life of asset 2 years
Fair value of asset $112,080
Implicit interest rate 8%
(Also lessee's incremental borrowing rate)

Required:

Prepare a lease amortization schedule and appropriate entries for Manufacturers Southern from the inception of the lease through January 1, 2014. Depreciation is recorded at the end of each fiscal year (December 31) on a straight-line basis.

Business
1 answer:
ElenaW [278]3 years ago
6 0

Answer:

Following is attached the prepared lease as required.

I hope it will help you!

Explanation:

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Benefits of small amounts of inflation include more expansionary monetary policy, the placebo effect, and the facilitation of relative price changes.

<h3>What is meant by inflation?</h3>

Inflation is the term used to describe the rate of price rise for goods and services.

It is sometimes used to categorize inflation according to cost-push, demand-pull, and built-in factors.

The two most popular inflation measures are the Consumer Price Index and the Wholesale Price Index.

Inflation can be viewed favorably or badly depending on the perspective and rate of change.

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Explanation:

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Answer:

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