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ivann1987 [24]
3 years ago
10

On January 1, 2021, Ivanhoe Corporation signed a 10-year noncancelable lease for certain machinery. The terms of the lease calle

d for Ivanhoe to make annual payments of $230000 at the end of each year for 10 years with the title passing to Ivanhoe at the end of this period. The machinery has an estimated useful life of 15 years and no salvage value. Ivanhoe uses the straight-line method of depreciation for all of its fixed assets. Ivanhoe accordingly accounted for this lease transaction as a financial lease. The lease payments were determined to have a present value of $1543,319 at an effective interest rate of 8%. With respect to this lease, Ivanhoe should record for 2021:
a. lease expense of 200,000.
b. interest expense of 89,468 and depreciation expense of 76,136.
c. Interest expense of 107,361 and depreciation expense of 89, 468.
d. interest expense of 91,363 and depreciation expense of 134,202.
Business
1 answer:
Greeley [361]3 years ago
4 0

ha IvAnHoe

yeah sorry i dont know the answer i just thought it was funny lol

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olga2289 [7]

Answer:

b because I had this work sheet

7 0
3 years ago
Read 2 more answers
On May 3, 2017, Leven Corp. negotiated a short-term loan of $685,000. The loan is due October 1, 2017, and carries a 6.86% inter
Semmy [17]

Answer:

704076 $

Explanation:

Exact statement of the question is:

<em>May 3, 2007, Leven Corp. negotiated a short-term loan of $685,000. The loan is due October 1, 2007, and carries a 6.86% interest rate. Use ordinary interest to calculate the interest. What is the total amount Leven would pay on the maturity date? (Round your answer to 2 decimal places. Omit the "$" sign in your response.)</em>

Solution:

Fro 3rd May to October 1st. 2017 there are 151 days

But 365 days = 1 year

==> 151 days = 151× 1/365 =0.414 years

But we use 1 year as one term

==> 1year = 1T

==>  T = 0.414

R= 6.86

P= 685000

A=?

We use formula for the term:

A= P(1+ \frac{R}{100} )^{T}

Where A= ammount at the end of term

P= Loan amount

R= Rate of interest

T= No. of terms

Putting values in this formula;

==> A= 685000×(1+\frac{6.86}{100}) ^{0.414}

==> A= 685000 × 1.02784938489=704076 $

6 0
3 years ago
*Will mark for Brainliest if given the correct answer!*
Lesechka [4]

Answer:

G91.1

Explanation:

  • It is a billable code.
  • Simply it's too specific as there are unique ICD codes.
  • It can be used for reimbursement process at any cause.
3 0
2 years ago
Jim buys a 5 percent bond in the amount of $100. If the market interest rate increases to 10 percent Jim can sell his bond for u
Sedaia [141]

Answer:

$50

Explanation:

Jim buys a 5% bond

The amount is $100

The market interest rate increases to 10%

Therefore the price at which the bond cann be sold is calculated as follows

= 5×100

= 500×0.01

= 50

Hence it can be sold for $50

3 0
3 years ago
Suppose that instead of using a forward contract, you consider using options. A one-year call option to buy euros at a strike pr
Stells [14]

Answer:

Sell the put option. The put option is better and advantageous .

Explanation:

The call option is trading far below the strike price and poses risk. The price may not go up to $1.25 and hence not advisable. The put option is better as we stand to make a profit margin ($1.15 / Euro) if it sells the put at he strike price immediately. Given that the difference is high, it is unlikely that the price will move against us and we shall exercise the option as soon as the margin starts reducing.

5 0
3 years ago
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