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allsm [11]
3 years ago
10

On December 31, 20X1, Ball Company leased a machine from Cook for a 10-year period, expiring December 30, 20Y1. Annual payments

of $100,000 are due on December 31. The first payment was made on December 31, 20X1, and the second payment was made on December 31, 20X2. The present value at the inception of the lease for the 10 lease payments discounted at 10% was $676,000. The lease is appropriately accounted for as a finance lease by Ball. Required: Compute the December 31, 20X2, amount that Ball should report as a total finance lease liability after the lease payment has been made.
Required:
What portion of this total liability should be classified as a current liability?
Business
1 answer:
hjlf3 years ago
4 0

Answer:

<u>Therefore, the lease liability is $533,600 and the current liability is $46,640. </u>

Explanation:

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If the exchange rate between the dollar and the Swiss franc changes from 1.8 to 1.5 francs per dollar, the franc depreciates and
bazaltina [42]

Answer:

False

Explanation:

Exchange rate helps to determine the value of money in the foreign currency. If the exchange rate changes from 1.8 to 1.5 francs per dollar it means that the franc per dollar appreciates, and the dollar depreciates. Now, more dollars can be bought by trading Swiss franc compared to the previous rate. A decrease in exchange rate decreases the value of the dollar compared to the Swiss franc.

6 0
3 years ago
Criticism is hurtful because it makes one feel as if _______.
bija089 [108]

Answer:

a

Explanation:

they may feel like this because they're being talked about or like they're doing something wrong

5 0
3 years ago
ABC Company insured its building on a replacement cost basis for $700,000 under a property insurance policy that included an 80%
Rama09 [41]

Answer:

$35,000

Explanation:

Given that

Insurance = $700,000

Sustained cost = $40,000

Replacement cost = $1,000,000

Policy = 80%

The computation of amount eligible for payment is as shown below:-

Insurance required = Cost of building × Co insurance

=$1,000,000 × 0.80

= $800,000

The amount eligible for payment = (Insurance Carried ÷ Insurance Required) × Loss

= $700,000 ÷ ($1,000,000 × 80%) × ($40,000)

= $700,000 ÷ $800,000 × $40,000

= 0.875 × $35,000

= $35,000

3 0
3 years ago
In Chapter 7 bankruptcy, liquidation, A. all the debtors' debts are discharged. B. the debtor keeps their assets. C. the trustee
qaws [65]
<span>In Chapter 7 bankruptcy, liquidation, the trustee sells off the debtor's assets and pays creditors. A Chapter 7 bankruptcy often turns into a Chapter 13 which is based around selling debt off to pay creditors. Selling off the assets and liquidating them gives them cash on hand to pay off what needs to be paid. </span>
4 0
3 years ago
Even before Michelle could explain why a prospect had not purchased her company's new line of ecofriendly outdoor furniture, her
postnew [5]

Answer:

Informal feedback

Explanation:

In simple words, informal feedback relates to the feedback under which the feedback is not planned by either of the parties involved and the conversation regarding the review just happens occasionally unplanned. I

 Generally, In such feedback there is no exchange of information but one party dictates their view to the other. Hence, from the above we can conclude that the given case is an instance of informal feedback.

8 0
3 years ago
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