Answer:
Value of the lease = Annual lease payments * PVAD (11%, 13)
Value of the lease = $102,771 * 7.492236
Value of the lease = $770,000
Date Account Titles and Explanation Debit$ Credit$
Jan. 1 Leased Asset - Airplane 770000
Lease Liability 770000
Jan. 1 Lease Liability 102771
Cash 102771
Dec. 31 Interest Expense 73395
($770,000 - $102,771) x 11%
Interest Payable 73395
Dec 31. Depreciation Expenses 40,000
(600,000/15 years)
Accumulated Depreciation 40,000
Explanation:
The journal entry is as follows:
Sales A/c Dr $900
To Customer refund payable A/c $900
(Being the refund is recorded)
For recording this given entry, we debited the sales account and credited the customer refund payable account so that the proper positing could be done. Both the accounts are recorded at $900
Answer:
a. Outperform.
b. Gatekeepers.
c. Leveraging.
d. Value creation.
e. Producer.
Explanation:
A platform can be defined as a type of business model that creates value or focuses on assisting participants by facilitating exchanges and interactions between two or more interdependent groups of participants, who are mostly consumers and producers of finished goods and services.
This simply means that, a platform usually creates an effective and efficient market or community network with needed resources, for better interaction and transaction among various participants. Some examples of a platform business are brainly, airbnb, apple, microsoft, uber etc.
The notable characteristics and advantages of a platform business are;
a. Platform businesses tend to frequently outperform pipeline businesses.
b. Platforms scale more efficiently than pipelines by eliminating gatekeepers.
c. Platform businesses leveraging digital technology can grow much faster.
d. Platforms unlock new sources of value creation and supply.
e. Feedback loops from consumers to the producers allow platforms to fine-tune their offerings and to benefit from big data analytics.
