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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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3 years ago
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2 years ago
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3 years ago
If the price elasticity of demand for apples is 1.20 (absolute value), then the demand is _____ and total revenue will ______ if
Ludmilka [50]

Answer:

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Explanation:

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3 years ago
Developing the cash flow for each alternative in a study is a pivotal, and usually the most difficult, step in the engineering e
Volgvan

Answer:

The concept of equivalence, also known as economic equivalence, describes the reduction of a series of cash inflows (benefits) and cash outflows (costs) to a single point in time, using a single interest rate, which enables the cash flows to be compared or equated.  This implies that while the amounts and timing of the cash flows (both inflows and outflows) may differ, an appropriate interest rate, factoring in the time value of money, will cause one set to be equal to the other.  Therefore, to establish economic equivalence, series of cash flows that occur at different points in time must be equalized using a single interest rate through present value calculations.

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