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pantera1 [17]
3 years ago
12

Marnie Company enters into a two-year lease. The terms of the lease do not transfer ownership and do not contain a bargain purch

ase option. The lease is for 60% of the asset's economic life and represents 80% of its fair value. The asset is not a specialized asset and does have alternative uses. How should Marnie classify and record the lease
Business
1 answer:
sergeinik [125]3 years ago
6 0

Answer:

The lease should be classified as an operating lease, and a lease liability should be recorded at the inception of the lease.

Explanation:

Operating lease is a contract that allows for the use of an asset but does not convey ownership rights of the said asset.

Lease liability is defined as a financial obligation to make the payments arising from a lease and it is calculated on a discounted basis.

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Answer:

the strict policies at other stores that took away the pleasure of shopping inspired Selfridge to ensure that other customers at his store could browse at their leisure

5 0
3 years ago
Last year, you set aside an advertising budget of $5,000 to place ads in different newspapers, social media platforms, and the l
aleksandrvk [35]

Based on the discount offered and the cost of advertising, your budget variance is <u>$500 </u>and it is a <u>surplus</u>.

<h3>How much do you spend on advertising?</h3>

You need to advertise for 6 months which means that you will pay for two three-month advertising seasons.

The first season will cost $2,000 because of the discount and the second season will cost $2,500. Total cost is:

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= Budget - Amount spent

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8 0
3 years ago
Which of these pavement markings separates two lanes traveling in the same direction?
kiruha [24]

The pavement markings that separate two lanes traveling in the same direction is A broken white line

<h3>What is a Pavement Marking?</h3>

This refers to the mark or sign that is on the road to show a particular function for motorists and pedestrians.

Hence, we can see that in the case of two lanes that travel in the same direction, the pavement marking that is used to clearly show this is called a broken white line.

Read more about pavement markings here:

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7 0
2 years ago
Scenario: wang's techno toys ann wang has been successfully running wang's techno toys that sells high-tech toys in the domestic
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Based on the given scenario above regarding Wang's Techno toys which was successfully run by Ann Wang, the method of import or export financing that the Techno Toys' bank used if it functions as an intermediary without considering any financial risk is called the DOCUMENTARY COLLECTION.
5 0
3 years ago
Peyton sells an office building and the associated land on May 1 of the current year. Under the terms of the sales contract, Pey
marissa [1.9K]

Answer: $‭2,890,426‬

Explanation:

= Cash received + Mortgage assumed - Points paid by Peyton - Broker's ,commission

= 1,867,200 + 1,120,320 - 22,406 - 74,688

= $‭2,890,426‬

5 0
3 years ago
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