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Mariana [72]
3 years ago
15

Breonna Corporation leases equipment from Falls Company on January 1, 2020. The lease agreement does not transfer ownership, con

tain a bargain purchase option, and is not a specialized asset. It covers 3 years of the equipment's 8-year useful life, and the present value of the lease payments is less than 90 % of the fair value of the assets leased. The annual lease payment is $41,000 at the beginning of each year, and Breonna's incremental borrowing rate is 8%, which is the same as the lessor's implicit rate. The agreement is properly classified as an operating lease. Assume the equipment is carried at a cost of $280,000 and the Straight-Line method for depreciation is used. In preparing the necessary journal entries for Falls Company (the lessor) for 2020, the "Leased Equipment" account should include a debit for depreciation expense of ___________. (Enter the answer with NO commas or dollar signs!)
Business
1 answer:
maksim [4K]3 years ago
7 0

Answer:

$35,000

Explanation:

Since this is an operating lease (short lease term, no transfer of ownership, and low present value of lease payments), the lessor has to record a depreciation expense, but the lessee only considers lease payments as operating costs (no depreciation expense or lease liability should be recognized).

Depreciation expense per year under the straight line method = asset cost / useful life = $280,000 / 8 years = $35,000

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What is choice ? Choice is problem how
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Answer:

Problem of choice refers to the allocation of various scarce resources which have alternative uses that are utilized for the production of various commodities and services in the economy for the satisfaction of unlimited human wants.

8 0
3 years ago
A ______ is a mission in a game, structuring action for the player. Group of answer choices strategy mechanic dynamic quest
IrinaVladis [17]

A Quest is a mission in a game, structuring action for the player.

In video games, a player-controlled character, party, or group of characters may undertake a quest or mission in order to receive a reward. Role-playing and massively multiplayer online games are where you'll typically find quests.  Rewards can come in the form of treasure like in-game currency or equipment, access to places or locations that are at a higher level, a rise in the character's experience so that they can gain new skills and abilities, or any combination of the aforementioned.

There are many different types of missions, including delivery/"fetch" quests, gather quests, kill quests, and escort tasks. Quests, however, might comprise many tasks, such as collecting something and moving it somewhere. In order to create quest chains or series, quests can be linked together. In this way, quests are utilized to give players more context for the world their characters are in. This mechanism is also employed to advance the game's possible storyline or plot.

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8 0
2 years ago
The following is the sales budget for Coore, Inc., for the first quarter of 2019: JanuaryFebruaryMarch Sales budget$135,000$152,
ivann1987 [24]

Answer: See explanation

Explanation:

a. . Compute the sales for November.

This will be:

= ($96,000 - $78,800) / 10%

= $17200 / 10%

= $17200/0.1

= $172,000

b. Compute the sales for December.

This will be:

= $78800 / (10% + 30%)

= $78800 / 40%

= $78800 / 0.4

= $197000

c. Compute the cash collections from sales for each month from January through March.

January cash collection:

= ($172000 × 10%) + ($197000 × 30%) + ($135000 × 60%)

= $17200 + $59100 + $81000

= $157300

February cash collection:

= ($197000 × 10%) + ($135000 × 30%) + ($152000 × 60%)

= $19700 + $40500 + $91200

= $151400

March cash collection:

= ($135000 × 10%) + ($152000 × 30%) + ($167000 × 60%)

= $13500 + $45600 + $100200

= $159300

8 0
3 years ago
How would the following transactions affect U.S. exports, imports, and net exports?
Fiesta28 [93]

Answer:

A. As a result of the professors activities, import would increase while export remains unchanged. Net export would reduce.

B. Export would increase while import remains unchanged. Net import would increase

C. Volvos are made in Sweden. So, the Volvo would be imported. This increases import and  export remains unchanged. Net export would reduce.

D. The sales takes place in England, so US export, import and net export would remain unchanged.

E.  Export would increase while import remains unchanged. Net import would increase

Explanation:

Net export = Export - Import

3 0
3 years ago
Select the incorrect statement regarding flexible budgets. Multiple Choice Flexible budgets often show the estimated revenues an
AleksandrR [38]

Answer:

Option C is the correct answer..

A flexible budget is also known as a master budget is incorrect

Explanation:

A master budget is a term used for aggregation of all budgets prepared by all divisions.

6 0
4 years ago
Read 2 more answers
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