Im having a good day, so tell me what is your favorite sport

Exercise 15-14 Presented below are two independent situations. 1. Flinthills Car Rental leased a car to Jayhawk Company for one

IrinaVladis [17]

Answer:

Part 1

Dr Lease rentals $300........ Expense

Cr Cash Account $300

Part 2

Dr Leased Equipment $63,536

Cr Finance Lease Liability $63,536

Explanation:

Part 1. Under the operating leases the lessee pays the monthly rentals which must be accounted for as an expense and the double entry is as under:

Dr Lease rentals $300........ Expense

Cr Cash Account $300

Part 2. Under the finance lease agreement, the lessee pays the value of the asset and the interest as well. So after the date of agreement when the asset is handed over the journal entry would be recording of the equipment received, which would written at its fair value or present value of the payments made. The journal entry would be:

Dr Leased Equipment $63,536

Cr Finance Lease Liability $63,536

8 0

4 years ago

1. Think about the four cores of credibility. Choose one of them and describe why it is important to you for your workplace.

xxTIMURxx [149]

Answers

Integrity: integrity means doing things with sincerity of purpose. Integrity is important to me because it reveals my truest purpose.

Branding means how others see you, in other words, the perception of people about a person or thing.

I would build a reputation at the workplace leveraging on both character and competence.

Explanation

Integrity is one of the core's of credibility.

Branding has to do with perception.

Character and Competence are two required traits in reputation building at the workplace.

3 0

4 years ago

What are the 5 basic seating arrangements used for small group meetings

ICE Princess25 [194]

Answer:

Family Style Seating.

Classroom Style Seating.

U-shape / Horse Shoe Style Seating.

Explanation:

7 0

3 years ago

Suppose your expenses for this term are as follows: tuition: $28,000, room and board: $9,000, books and other educational su

astraxan [27]

Answer: Option C is correct

Explanation:

Opportunity cost or loss is the contribution lost due to the leaving one opportunity to exploit the other one. So in this case, the opportunity that I am going to exploit is going to college this term. So according to relevant costing the relevant cost is:

(a) Cash flow in nature.

(b) Future contract binding (future related)

(c) Incremental cost or differential cost

To find whether the cost is incremental cost or not we can find through the following method.

Step 1: Find the cash flow that is arising due to the decision?

Step 2: Find the cash flow arising if we don't take the decision?

Step 3: The difference of step 1 and 2 is differential or incremental cost.

All the inflows and outflows are cash flow in nature and future related. The only thing we have to find is that whether or not the cost is incremental or not.

For this Term:

Step 1 Step 2 Step 3

Take Decision If we Don't Incremental

Salary loss (42-16) (26,000) - (26,000)

Tuition cost (28,000) - (28,000)

Room and Board (9,000) - (9,000)

Books and Edc. Supplies (2,500) - (2,500)

TOTAL COSTS (65,500)

Kindly also review the following question for you better understanding

brainly.com/question/14423321

8 0

4 years ago

____ is the process of systematically examining information assets for evidentiary material that can provide insight into how an

alukav5142 [94]

Answer:

Forensics accounting analysis

Explanation:

Forensic accounting analysis uses auditing (accounting) and investigative skills to determine whether the financial reports of a company or an individual are valid (i.e. true). This technique can also be used to determine how certain abnormal transactions occurred and who was responsible for carrying them out.

5 0

3 years ago