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3 years ago

On December 31, 2018, Perry Corporation leased equipment to Admiral Company for a five-year period.

Business

1 answer:

Delvig [45]3 years ago

8 0

Answer:

Perry's earnings will be increased by $21,000 due to this lease.

Explanation:

Increase in earning is the difference of price of the lease and the cost incurred for the lease of asset.

Fair value$155,000

Cost = $134,000

Profit on sale = $155,000 - $134,000

Profit on sale = $21,000

As equipment was leased on December 31 So, no interest is earned in year 2018. $21,000 will be added to the earnings of Perry in 2018 due to this lease.

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Jokan contributes a nondepreciable asset to the Mahali LLC in exchange for a one-fourth (25%) interest in the LLC's capital and

dimulka [17.4K]

Answer:

A$33,500

B. $100,500

Explanation:

A. Calculation to determine How much of the nonrecourse debt is allocated to Jokan

Nonrecourse debt allocated=($167,500-$100,500)/2

Nonrecourse debt allocated=$67,000/2

Nonrecourse debt allocated=$33,500

Therefore based on the information given the amount of the NONRECOURSE DEBT that is allocated to Jokan is 25% or $33,500

B. Calculation to determine the amount of Jokan's basis in the LLC interest following the contribution

Basis in the LLC interest=$33,500+($167,500-$100,500)

Basis in the LLC interest=$33,500+$67,000

Basis in the LLC interest=$100,500

Therefore the amount of Jokan's basis in the LLC interest following the contribution is $100,500

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RideAnS [48]

Answer: targeted use of open market operations in which a central bank targets certain markets

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Answer:

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Steve is preparing a comparative market analysis for the Joneses and has selected three comparable properties. How many adjustme

Fynjy0 [20]

The number of adjustments that Steve has to make for Jones's property is 0.

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