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wariber [46]
3 years ago
11

A lease agreement that qualifies as a finance lease calls for annual lease payments of $50,000 over a four-year lease term (also

the asset’s useful life), with the first payment at January 1, the beginning of the lease. The interest rate is 7%
a. Complete the amortization schedule for the first two payments.
b. If the lessee’s fiscal year is the calendar year, what would be the amount of the lease liability that the lessee would report in its balance sheet at the end of the first year? What would be the interest payable?
Business
1 answer:
Ostrovityanka [42]3 years ago
7 0

Answer:

year   beginning       interest       payment   total              ending

          balance          payment                       payment       balance

<em>1          150000               0               50000    50000      150000</em>

<em>2        100000            10500           50000    60500      100000</em>

3        50000              7000            50000     57000      50000

4.       0                       3500             50000     53500       0  

b. The balance of the lease liability reported would be $ 150000

Interest payable would be $150000*0.07 = 10500

Explanation:

the opening balance is without the $50000 paid at the beginning of every year.

interest for the previous year is paid on the beginning of the current along with the payment for the year at the beginning.

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Verdich [7]

Answer:

visual communication

Explanation:

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Generally, there are four (4) main types of communication and these includes;

I. Verbal (oral) communication.

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III. Written communication.

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In conclusion, visual communication is strictly based on vision or sight.

6 0
3 years ago
Financial statements are prepared: Group of answer choices For corporations, but not for sole proprietorships or partnerships. P
telo118 [61]

Answer:

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Explanation:

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Financial reporting can be defined as the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors.

Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. Thus, it includes balance sheet, statement of retained earnings and income statement. The information that are found in a financial statement are revenues, expenses, liability, equity and assets.

Hence, the primary objective of financial accounting is to provide accounting information for external users so as to enable them have a good understanding of the financial inclination of a business firm and thus, make an informed decision whether or not to invest in the business firm.

In Accounting, the external users of a financial accounting information includes customers, creditors, investors shareholders and government regulators.

8 0
3 years ago
Morris owns a bicycle store. he often leaves daniel in charge of the store. one saturday evening, after daniel leaves the store,
White raven [17]
If Daniel took the cash, he could be found guilty of the crime of embezzlement. Embezzlement is a specific type of theft. It is when someone was entrusted with someone else's property (like an employer) and they steal some/all for their personal benefit.

Hope this helps! :)
3 0
4 years ago
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m_a_m_a [10]

Answer:

the correct answer is C

Explanation:

As described in the chapter case, which of the following constitutes a managerial element of the UPS tracking system?

C) The decision to use automation

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Answer:

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Explanation:

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According to Merriam-Webster, culture shock is defined as the sense of confusion and uncertainty sometimes with feelings of anxiety that may affect people exposed to an alien culture or environment without adequate preparation.

With the definition above, it is therefore safe to say that, in the case of Hayley feeling uncomfortable and disoriented in a new environment, she is experiencing Culture Shock.

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