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kirill115 [55]
3 years ago
13

On January 1, 2021, Calloway Company leased a machine to Zone Corporation. The lease qualifies as a sales-type lease. Calloway p

aid $330,000 for the machine and is leasing it to Zone for $40,000 per year, an amount that will return 10% to Calloway. The present value of the lease payments is $330,000. The lease payments are due each January 1, beginning in 2021. What is the appropriate interest entry on December 31, 2021
Business
1 answer:
mestny [16]3 years ago
5 0

Answer:

Dr Interest receivable $29,000

Cr Interest revenue $29,000

Explanation:

Preparation of the appropriate interest entry on December 31, 2021

December 31, 2021

Dr Interest receivable $29,000

Cr Interest revenue $29,000

[($330,000-$40,000)*10%]

($290,000*10%)

(To record Interest)

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Answer:

The question is missing some figures which can be seen from the attached image.

Petty cash is a fund set aside in the office to pay minor day to day expenses incurred.Usually, an amount is made available at the beginning of period called float,from which expenses can be paid and the amount equal to spend is reimbursed at the end of the month.

In order, to make payment even more easier,some businesses take up credit cards from financial institutions,from  which expenses can be paid on account.

The balance of $415 means in petty fund,implies that $85  spent needs to be replenished at month end and that the remaining expenses were paid with credit card.

Explanation:

Find in the attached spreadsheet the entries posted in respect of petty cash and credit card expenses in the month.

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3 years ago
Charles wants to promote his gym and attract more elderly men to visit and become members. which of the following do you think w
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Out of the following answers, option A. seems most fitting. Elderly customers would likely want a calm environment where they can work at their own pace. The other options cater to other demographics. So A. would be an appropriate emphasis for Charles' message.

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2 years ago
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Of the types of U.S. compliance laws, there are a number of laws that are designed to provide confidence in the markets. _______
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Answer:

The correct word for the blank space is: Shareholders.

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A Shareholder is a person company or other entity that owns at least one share of company stock. Another word for <em>shareholder </em>is <em>stockholder</em>. When a shareholder buys a company stock provide them with funds to run and grow a business. The government is in charge of providing regulations to promote a safe environment in the market to promote investments from stockholders.

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The expectation of a fair exchange of employment obligations between an employee and employer is called?
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The expectation of a fair exchange of employment obligations between an employee and employer is called the psychological contract.

<h3>What is the psychological contract?</h3>
  • A psychological contract, a concept developed in contemporary research by organizational scholar Denise Rousseau, represents an employer's and an employee's mutual beliefs, perceptions, and informal obligations.
  • It establishes the dynamics of the relationship and defines the specifics of the work to be done.
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  • The psychological contract refers to the expectation of a fair exchange of employment obligations between an employee and an employer.
  • A psychological contract is defined as a philosophy rather than a formula or predetermined plan.
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Therefore, the expectation of a fair exchange of employment obligations between an employee and employer is called the psychological contract.

Know more about the psychological contract here:

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