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Anvisha [2.4K]
3 years ago
6

If the residual value of a leased asset turns out to be more than the amount guaranteed by the lessee, the:

Business
1 answer:
sdas [7]3 years ago
8 0

Answer:

D. Lessor is not obligated to compensate the lessee for the excess.

Explanation:

A lease agreement is a contract that allows for the use of an asset but does not convey ownership rights of the asset. It is a contract that exist between a lessor and a lessee that allows the lessee rights to the use of a property owned or managed by the lessor for a period of time.

If the residual value of a leased asset turns out to be more than the amount guaranteed by the lessee, the: Lessor is not obligated to compensate the lessee for the excess. because the lessee is  responsible for the condition of the property during the lease period.

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The following income statement was produced when volume of sales was at 400 units. Sales Revenue $ 1,600 Variable Cost 700 Contr
lilavasa [31]

Answer:

If volume reaches 500 units, net income will be: $715

Explanation:

When  volume of sales was at 400 units:

Selling price per unit = Sales Revenue/400 = $1,600/400 = $4

Variable Cost per unit = Variable Cost/400 = $700/400 = $1.75

If volume reaches 500 units:

Total Sales Revenue = $4 x 500 = $2,000

Variable Cost = $1.75 x 500 = $875

Fixed Cost will not change = $410

Net income = Total Sales Revenue - Variable Cost - Fixed Cost = $2,000 - $875 - $410 = $715

7 0
3 years ago
Partially completed goods that are in the process of being converted into a finish product are defined as Select one: A. convers
fomenos

Answer:

B. work-in-process inventories.

Explanation:

Partially completed goods that are in the process of being converted into a finish product are defined as work-in-process inventories.

Generally, the work-in-process inventories include the following raw materials cost, direct labor cost and factory overhead cost.

These category of products are only partially completed and as such are waiting for further processing, still undergoing fabrication or kept in a buffer storage.

4 0
3 years ago
Refer to the above table. if demand decreased by 4 units at each price, what would the new equilibrium price and quantity be?
PSYCHO15rus [73]
What table? Cannot solve until I have the chart.
6 0
3 years ago
Weber Company purchases $52,200 of raw materials on account, and it incurs $62,200 of factory labor costs. Supporting records sh
netineya [11]

Answer:

This problem requires us to pass journal entry to assign overhead to the Assembly and Finishing Departments.

We know that overhead is allocated on estimation basis through applied overhead account. The basis of assignment is given in the question. The overhead will be assigne/recorded in relevant department work in process cost account. The journal entry is given below.

Debit Assembly WIP Account                         $ 70,720

(44,200*1.6 = 70.720)

Debit Finishing WIP Account                           $ 28,000

((62,200-44,200)*1.6 = 28,800)

Credit Factory Overhead applied Account    $ 99,520

3 0
3 years ago
Sending products by _____ is the most expensive option available to producers. Answer rail truck ship plane
Anvisha [2.4K]
The correct answer for the question that is being presented above is this one: "plane." <span>Sending products by plane is the most expensive option available to producers. Using plane as a way to transport products can be quite expensive compared to rail, truck or ship.</span>
8 0
3 years ago
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