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Alex17521 [72]
3 years ago
11

BBB Leasing purchased a machine for $280,000 and leased it to Jack Tupp Auto Repair on January 1, 2021. Lease description: Quart

erly rental payments $16,427 at beginning of each period Lease term 5 years (20 quarters) No residual value; no BPO Economic life of machine 5 years Implicit interest rate 7% Fair value of asset $280,000 What is the balance in the lease payable account after the April 1, 2021, lease payment
Business
1 answer:
Nostrana [21]3 years ago
6 0

Answer: $251758.53

Explanation:

Based on the information given in the question,

Total lease liability = $280,000

Then, the balance in the lease payable account when the first lease payment takes place on January 1, 2021 will be:

= $280,000 - $16,427

= $263573

The, the interest that is included in the lease payment that's made on April 1, 2021 Will be:

= $263573 x 7% x 1/4

= $4612.53

Then, the principal amount that's included in the lease payment made on April 1, 2021 will be:

= $16,427 - $4612.53

= $11814.47

Therefore, the balance in the lease payable account after the April 1, 2021, lease payment will be:

= $263573 - $11814.47

= $251758.53

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B. Market or customer organization

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There are various types of the marketing department but the most important department is market or customer organization as it gives the focus to all the customers along with the market so that the corporation could accomplish its goals and objectives.  

By focusing on market or customer organization it can gain a competitive advantage which can increase its market share by maximizing revenues and minimizing expenses  

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Escalating fuel and escalating ______________ costs continue to have an impact on the trucking industry
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Escalating fuel and escalating insurance costs continue to have an impact on the trucking industry.

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b. Marketing decisions and activities focused on achieving long-term, satisfying relationships with customers

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For a partition suit to be won, the co-owner must be in the right standing to even initiate one.

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