The finance lease is the journal entry can be created by debiting the lease asset account and crediting the lease liability account. The amount of lease asset or lease liability recorded in this journal entry is the fair value of total lease payments.
Because short-term leases are not capitalized, no depreciation expense on the right of use asset or finance cost on the lease liability is recognized. Payments on short-term leases are expensed by the less on a straight-line or other systematic basis.
Debit the appropriate fixed asset account and credit the capital lease liability and account with the amount.
To learn more about asset here
brainly.com/question/14826727
#SPJ4
In monopolistic competition prices are usually higher than in perfect competition.
Answer:
The duties under the teaching contract cannot be delegated
Explanation:
The person wit whom the school has a binding agreement was Teresa and contract of services cannot be delegated unilaterally by Teresa to her friend Shirley without consulting the school authority.
The appropriate procedure would be for Teresa to discuss with the school her plans to let Teresa to cover up for her absence,however, if the school accepts the new arrangement , Teresa would need to be relieved of her duties as this would be a permanent substitution.
Answer:
It is not legal for an insurance company to raise your premium if you were involved in a crash that wasn't your fault. In case that happens to you, you should first contact your insurance broker, but if he/she doesn't fix the issue, you must contact your state insurance department and file a complaint against your insurance company. Depending on which state you live in, you can file the complaint online, by phone, by mail, and/or email. If you live in your state capital city, I guess you can probably do it in person also.
Answer:
prepayment penalty, maintain, insurance, mortgage
Explanation:
Prepayment penalty clause relates to the situation that the borrower shall not prepay the borrowed amount as to the creditor it will be loss in the form of interest, thus, it do not want that the borrower shall collect from any other source.
The property should not loose its value, or the value shall not be degraded as that will result in loss, as when the borrower fails to repay the loan, creditor has the right to sell it, if it will not be maintained the value will degrade.
Insurance is required so that same as in above mentioned point that the value is not lost, and then the value of loan is fully recoverable.
If the value of loan exceeds 80% of value of property there shall be mortgage as the lender ensures his payment and no failure shall be there.
