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arlik [135]
3 years ago
12

Refer to the following lease amortization schedule. The 10 payments are made annually starting with the beginning of the lease.

The title does not transfer to the lessee and there is no purchase option or guaranteed residual value. The asset has an expected economic life of 12 years. The lease is non-cancelable.
Payment Cash
Payment Effective
Interest Decrease
in balance
Balance
63,282
1 10,000 10,000 53,282
2 10,000 6,394 3,606 49,676
3 10,000 5,961 4,039 45,638
4 10,000 5,477 4,523 41,114
5 10,000 4,934 5,066 36,048
6 10,000 4,326 5,674 30,373
7 10,000 3,645 6,355 24,018
8 10,000 2,882 7,118 16,901
9 10,000 ? ? ?
10 10,000 ? ? ?
1. What is the effective annual interest rate?
a.12%.
b. 9%.
c. 11%.
d. 10%.
2. What would the lessee record as annual amortization on the right-of-use asset using the straight-line method?
a. $5,328.
b. $6,328.
c. $6,392.
d. $10,000.
3. What is the outstanding balance after payment 9?
a. $5,000.
b. $5,537.
c. $8,929.
d. $13,463.
Business
1 answer:
Troyanec [42]3 years ago
8 0
1. C 2.d 3.a that is answer
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The difference between situational interviews and behavioral description interviews is that: a. behavioral description interview
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C) Situational interviews focus on hypothetical incidents rather on actual work incidents

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Suppose the market for money, drawn with the value of money on the vertical axis and the quantity of money on the horizontal axi
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The money market is defined as dealing in debt with a maturity of less than one year. Investors use it to make a modest profit.

While governments and corporations use it to keep their cash flow constant. Long-term debt and equity instruments are sold and bought on the capital market.

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Jamie is analyzing the estimated net present value of a project under various conditions by revising the sales quantity, sales p
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3 years ago
Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries,
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Answer:

I will use the 2020 tax schedule since recovery rebate credit applies to 2020:

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Marc and Michelle should get a refund for $3,023

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