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Komok [63]
3 years ago
13

Briarwood Company enters into a lease for the use of a new piece of equipment. The term of the lease is 3 years, and Briarwood e

stimates the economic life of the equipment to be 4 years. The present value of the lease payments is $58,000. The lease is considered a finance lease. The journal entry to record the initial transaction will include a
Business
1 answer:
WITCHER [35]3 years ago
4 0

Answer:

Dr. Right of use asset $58,000; Cr. Lease liability $58,000

Explanation:

                                       Journal entry

Date     General Journal                       Debit       Credit

            Right of use of asset             $58,000

                    Lease Liability                                  $58,000

            (Entry to record the initial transaction)

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Which of the following illustrates the law of demand? a. Jorge buys fewer pencils at $2 per pencil than at $1 per pencil, ceteri
iVinArrow [24]

Answer:

e. a and c

Explanation:

The law of demand states that the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded. This occurs because of the law of diminishing marginal utility.

The law of diminishing marginal utility states that the more of a commodity is consumed, the lower the utility derived from the consumption of the product.

It follows that Jorge and karissa would demand less of pencils and sweaters as their prices rise.

The demand curve is usually downward sloping to illustrate the law of demand.

4 0
3 years ago
Producers often work to maximize their and make them as large as possible. True or False
dsp73

The correct question should be:

Producers often work to maximize their profit and make them as large as possible. True or False

Answer: True

Explanation:

The aim of every business is to make profit. A producer is into the business of taking raw materials and processing them into finished or semi-finished goods and selling them to make profit.

5 0
3 years ago
Read 2 more answers
An associate professor of physics gets a $200 a month raise. She figures that with her new monthly salary she can buy more goods
azamat

Answer:

The correct answer is a. Her real and nominal salary have risen.

Explanation:

The term nominal salary refers to the salary literally expressed in money; It is the sum of money paid to the worker for the work done during the stipulated day. When referring to the nominal salary we cannot give ourselves a general idea about the level or real value of the salary. The true value of this salary depends entirely on the level of the prices that correspond to the objects of personal consumption, also on the value of the services that are required, as well as the volume of taxes, among other common expenses.

For its part, the real salary refers to the salary expressed with respect to livelihoods and services available to the worker with his salary; Indicates the amount of consumer items that the worker is able to acquire, as well as services that a worker can buy with his nominal salary (which is handled in the monetary amount that the worker receives)

7 0
3 years ago
The loan period does not affect the total cost of the loan
Ne4ueva [31]
True true true true true true true
6 0
3 years ago
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Reg has just purchased a new car. The car had a list price of $22,499, and he was responsible for 7. 96% sales tax, a $2,138 veh
charle [14.2K]

The down payment that would be paid by reg is $2,800.

<h3 /><h3>What is a down payment?</h3>

A down payment is the first partial payment for the purchase of price expensive items or services, such as a car or a house. It is usually paid off in cash or equal at the time of finalizing the transaction. A loan of some kind is then asked to finance the remainder of the payment.

<u>Computation </u><u>of a down Payment:</u>

<u />

According to the question,

The total amount of car would be:

\text{List Price + Sales Tax + Registration Fee + Documentation Fee}\\\\\$22,499+\$1,791+\$2,138+\$262 = \$26,690.

r= 10.27%,

r=\dfrac{10.27}{12\times100}\\\\\\r= 0.00855833 ,

t= 12\times3\text{Years}=36 \text{Months}.

Monthly Payment = $773.89.

Let X be the amount of payment that is given in the starting.

\text{Monthly Payment} = \dfrac{\text{(List Price - x) r }}{1-(1+r)}}\\\\\\\$773.89 = \dfrac{(22,49-\text{x )0.0085533}}{1-(1+0.0085533)}\\\\\text{x}=$23889.84

The amount of down payment would be:

\text{Down Payment}=\text{Total Amount - Down Payment}\\\\\\\text{Down Payment}=\$26,690-\$23889.84\\\\\text{Down Payment}=\$2,801 \text{App.}

Hence, Option D is correct.

Learn more about the down payment, refer:

brainly.com/question/1114543

<u />

5 0
2 years ago
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