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ValentinkaMS [17]
3 years ago
13

On January 1, Year 1, Samuel Company leases equipment from Lease Corp. The lease agreement specifies five annual payments of $50

,000, with the first payment due at lease signing (January 1, Year 1), and at each January 1 from Year 2 to Year 5. At the end of the lease term, the equipment will be returned to the lessor and is expected to have a residual value of $30,000. The estimated useful life of the equipment is six years. The interest rate in the financing arrangement is 6%. The cost to Lease Corp of manufacturing the equipment is $150,000. The journal entry for the Lessor on January 1, Year 1 will include __________-
Business
1 answer:
Marrrta [24]3 years ago
4 0

Answer:

Cash (Dr.) $50,000

Lease Receivable (Cr.) $50,000

Explanation:

Lessor is the person who leases the item to gain financial benefit from the asset user lease. Lessee is a person who uses the assets but does not owns it so he pays lease rentals. In the given scenario the lease recoding at inception in the lessor books will be cash debit and lease receivable credit.

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20% of students in a class go to professor during office hours. of those who go 30% seek minor clarification. 70% seek major cla
aksik [14]

a. The probability that a student goes to seek for minor clarification from the professor during office hours = 6%.

b. The probability that a student goes to the professor for major clarification = 14%.

Data and Calculations:

Percentage of students in the class who go to the professor to seek clarifications = 20% (a)

Percentage of students in the class who do not go to the professor to seek clarifications = 80% (100% - 20%) (b)

Percentage of (a) who seek minor clarification = 30%

Percentage of (a) who seek major clarification = 70%

Probability of (a) seeking minor clarification = 6% (20% x 30%)

Probability of (a) seeking major clarification = 14% (20% x 70%)

Thus, the probability of students seeking minor clarification is 6% while the probability of students seeking major clarification is 14%.

Learn more about probability at brainly.com/question/13604758

8 0
2 years ago
What are the challenges (trends) Consolidation Tech Plus (CTP), Inc. Should be aware of in the environment of human resource man
makkiz [27]

Answer:

Workforce diversity challenges, technological challenges, and economic challenges

Explanation:

The challenges (trends) Consolidation Tech Plus (CTP), Inc. Should be aware of in the environment of human resource management that require HR to play a more central role in​ this growing organization are :

Workforce diversity challenges includes Acceptance and Respect, Accommodation of Beliefs ,Ethnic and Cultural Differences,

Gender Equality among others

Technological challenges includes Information security, Risk management and governance,

Regulatory compliance, Technology integration and upgradation, Resource management among others

Economic challenges includes Conflict and Poverty, Competing in a New Era of Globalization,Global Imbalances,Rise of New Powers among others

3 0
3 years ago
Santa Fe purchased the rights to extract turquoise on a tract of land over a five-year period. Santa Fe paid $300,000 for extrac
melomori [17]

Answer:

The cost of depletion in the current year is $90,000

Explanation:

Santa Fe's current year cost of depletion=cost of rights*Turquoise extracted in the current year/total estimated turquoise to be extracted

cost of rights is $300,000

turquoise extracted in the current year is 1,500 pounds

total estimated turquoise to be extracted over a five-year period is 5000 pounds

cost of depletion in the current year=$300,000*1500/5000

                                                           =$ 90,000.00  

By extension profit for the year assuming no other costs were incurred is :

$200,000-$90,000=$110,000

4 0
3 years ago
Click to review the online content. Then answer the question(s) below, using complete sentences. Scroll down to view additional
denis23 [38]
It might be easier because most credit unions require some kind of affiliation while banks will let anyone with money open and account.
6 0
2 years ago
On October 15, a company received $15,000 cash as a down payment on a consulting contract. The amount was credited to Unearned C
VLD [36.1K]

Answer:

True

Explanation:

The company received $15000 and credited it to the unearned consulting Revenue accounts because it had not performed any services yet.

According to the accrual principle, the company can only report the amount earned in a period. If the company achieves the required  10% of consulting services by 31st march, it will record 10 percent of $15,000 as its income.

10 percent of $15000= 10/100 x $15000

                                     =$1500

3 0
3 years ago
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