Answer:
a. $46,000
see the other answers in the explanation
Explanation:
(a) Fair value of leased asset to lessor $245,000
Less: Present value of unguaranteed residual value $24,335 X .63017
(present value of 1 at 8% for 6 periods) $15,335
Amount to be recovered through lease payments $229,665
Six periodic lease payments $229,665 ÷ 4.99271 $46,000*
*Present value of an annuity due of 1 for 6 periods at 8%.
b.
(c)
1/1/17
Lease Receivable 245,000
Cost of Goods Sold 229,665
Sales Revenue 229,665
Inventory 245,000
1/1/17
Cash 46,000
Lease Receivable 46,000
12/31/17
Lease Receivable 15,920
Interest Revenue 15,920
1/1/18
Cash 46,000
Lease Receivable 46,000
12/31/18
Lease Receivable 13,514
Interest Revenue 13,514
Answer:
Journal Entry is as follows;
June 15
<em>DR</em> Accounts Payable <u>$1,000</u>
<em>CR</em> Cash <u>$400</u>
<em>CR</em> Notes Payable <u>$600</u>
Answer:
Explanation:
. You can hire someone to keep your books but, you'll still need to know how to read, understand, and interpret basic accounting reports in order to make good business decisions and also for you to be able to know if someone is committing fraud. A basic knowledge will assist you in all this.
It is virtually impossible to smoothly run a business without being able to read, understand, and analyze accounting reports and financial statements
Answer:
All of the above
Explanation:
Servant-leadership aims at creating a "servant-hood" attitude in all employees that interact with customers. An organization has internal and external customers. A servant -leader understands that customer focus is about ''serving'' others. Everyone in the organization that engages customers must demonstrate "servant-hood. "
Servant-leaders create and sustain an organization's customer focus by establishing a customer service training program. Training ensures values are respected and observed by all. Training instills the desired behavior and response in employees. Through training, standards are set and maintained. A servant- leader deploy mechanisms to monitor and evaluate performance. This allows for corrective actions to guarantee quality service.
Answer:
The correct answer is B.
Explanation:
Giving the following information:
The company uses the activity rates to assign overhead costs to products:
Processing customer orders $96.63 per customer order
Assembling products $2.45 per assembly hour
Setting up batches $58.89 per batch
Last year, Product F76D involved 9 customer orders, 436 assembly hours, and 26 batches.
Allocated overhead= 9*96.63 + 436*2.45 + 26*58.89= $3,469.01
