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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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Aromatic wines are known as ________, which generally are consumed before meals as a digestive stimulant.
IgorC [24]
Aromatic wines are known as Aperitif, which generally are consumed before meals as a digestive stimulant. Although this is about wine, there are other drinks typically alcoholic that are considered Aperitif's. These drinks are mild in taste and help clear and cleanse your pallet before a meal. 
8 0
3 years ago
A thief steals an ATM card and must randomly guess the correct three​-digit pin code from a 9​-key keypad. Repetition of digits
Dennis_Churaev [7]

Answer:

The thief has a 0.11% probability of hitting the pin code on the first try.

Explanation:

Simply, if the ATM card has a 3-digit code that can be repeated, and the board has 9 numbers (for example, from 1 to 9), we must start from the smallest number that could be formed with these numbers to the highest number that these numbers could also compose, which in the case would be 111 and 999. Then, 889 different numbers could be formed (it is the distance between 111 and 999), with which the possibility of hitting the key to the first attempt would be 1 in 889 times, or 1/889.

To take the probability to a percentage, we must know that 889 / 8.89 gives 100. Therefore, dividing 1 / 8.89 we will know the percentage of probabilities of hitting the key on the first attempt: 1 / 8.89 = 0.11.

This shows us that the thief has a 0.11% probability of hitting the key on the first try.

7 0
2 years ago
Information technology has been used to improve both internaland external access and sharing of information. Three main kinds of
Mashcka [7]

Answer:

1. Executive Information System (EIS).

2. Corporate Portal.

3. Intranet.

Explanation:

Information technology (IT) can be defined as a set of components or computer systems, which is used to collect, store, and process data, as well as dissemination of information, knowledge, and distribution of digital products.

An information technology (IT) interacts with its environment by receiving data in its raw forms and information in a usable format.

Information technology (IT) has significantly helped to improve both internal and external access and sharing of information between two or more business firms and individuals. Basically, there are three (3) main kinds of information technology (IT) which allow informations to be accessed and shared internally among employees; executive information systems (EIS), intranets, and portals.

1. Executive Information System (EIS): it assist managers working in an organization to monitor and analyze organizational performance. An Executive information system is also referred to as an Executive support system and it can be defined as a management support system that enhances and supports all of the senior executive information and decision-making process.

2. Corporate Portal: it's a hybrid system that uses a web address (uniform resource locator-URL) to give employees access to customized information and specialized transactions with respect to an organization.

3. Intranet: it's an internal company network which is private and provides employees with easy access to information.

8 0
2 years ago
Su Industries has international subsidiaries in Asia. These subsidiaries enter into transactions in both the US dollar and local
Savatey [412]

Answer: Increase / Gain of $36,000

Explanation:

Remeasurement loss, which arises from conversions of the various currencies used by the company to a functional currency, goes to the Income statement and is subtracted from the Net income.

Translation gains on the other hand, are added to the Other Comprehensive income.

The other comprehensive income will therefore increase by the translation gain of $36,000.

5 0
2 years ago
While business plans are designed to change, a company’s mission statement should remain the same.
bogdanovich [222]

Answer:

I believe that the answer would be true

Explanation:

4 0
3 years ago
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