1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vitfil [10]
3 years ago
11

Technoid Inc. sells computer systems. Technoid leases computers to Lone Star Company on January 1, 2018. The manufacturing cost

of the computers was $130,000. This noncancelable lease had the following terms: Lease payments: $23,000 semiannually; first payment at January 1, 2018; remaining payments at June 30 and December 31 each year through June 30, 2022. Lease term: five years (10 semiannual payments). No residual value; no purchase option. Economic life of equipment: five years. Implicit interest rate and lessee's incremental borrowing rate: 5% semiannually. What is the outstanding balance of the lease liability in Lone Star's December 31, 2018, balance sheet
Business
1 answer:
Llana [10]3 years ago
8 0

Answer:

$89,350

Explanation:

Calculation to determine the outstanding balance of the lease liability in Lone Star's December 31, 2018, balance sheet

First step is to calculate the Balance after first payment

Initial lease liability $130,000

Less: First payment $23,000

Balance after first payment $107,000

Second step is to calculate the Interest expense for June 30,2021

Interest expense for June 30,2021= $107,000*5%

Interest expense for June 30,2021=$5,350

Third step is to calculate the Principal payment for June 30,2021

Principal payment for June 30,2021=$23,000-$5,350

Principal payment for June 30,2021=$17,650

Now let calculate the Outstanding balance on June

Balance after first payment. $107,000

Less: Principal payment for June $17,650

Outstanding balance on June $89,350

Therefore the outstanding balance of the lease liability in Lone Star's December 31, 2018, balance sheet is $89,350

You might be interested in
carmelita Inc., has the following information available: Costs from Beginning Inventory Costs from Current Period Direct materia
erica [24]

Answer:i dont answer

Explanation:alot of sbhbb b cn n ncn nc nccnx n c zcx nzv zxcv zcv cvzcv zxcbzv CVzxv z xcvzxcv xczv zcvzxcv zxcvzxcv zxcv xzcv zxcvzxcv zcvz cvxcvzxcv zcvxzcv zxvczxcv zx v v v v v zxc v zxcv zc xv zxcv zxcvzxcv zxc zxcv zcv zxcvz xv zxv xc vxcnvcnxv xz v nvn cx cx c xc xc x xvn.

b nnn nn

6 0
3 years ago
Consider a mutual fund with $300 million in assets at the start of the year and 10 million shares outstanding. The fund invests
djyliett [7]

Answer: Start = $300 million

End = $318.59 million

Explanation:

NAV can be calculated by dividing the funds Assets net of Liabilities by the total number of outstanding shares.

At start of the year NAV is $300 million and NAV per share is therefore,

= 300 million/ 10 million

= $30 per share.

Ending NAV

During the year the fund made Investments and increased by a price of 7%

= 300 million (1 + 0.07)

= $321 million

We still have to subtract the 12b-1 fees that the fund charges though and that would result in,

= 321 million * (1 - 0.0075)

= 318.5925

= $318.59 million.

Dividing this by the total number of outstanding shares we have,

= 318.59 /10

= $31.86

$31.86 is the NAV per share at year end.

5 0
3 years ago
United Machining's margin was 2% and turnover was 3.0 on sales of $60 million for the year. On the basis on this information____
Hunter-Best [27]

Answer:

B, net income for the year was $1,200,000, average assets were $20 million, ROI was 6%

Explanation:

net income is calculated by multiplying the percentage margin by the sales. We have,

(2 ÷ 100) × $60,000,000

= 0.02 × $60,000,000

= $1,200,000

To calculate the average assets, sales is divided by the turnover.

we have, ($60,000,000 ÷ 3.0)

= $20,000,000.

To calculate the ROI, margin and turnover are multiplied.

we have,

(2% × 3.0) = 6%

Cheers.

3 0
3 years ago
Ruth executes a will in 2012 naming her nephew stan as sole beneficiary. in 2014, ruth executes another will, naming her niece t
Slav-nsk [51]

Stan and Tammy will share the estate in equal shares. You are able to have as many beneficiaries as you name, due to this and no change in the first will, both will be heirs to the estate. If Ruth were to have revoked the first will, then it would have left Tammy the sole beneficiary.

5 0
3 years ago
Petrus Framing's cost formula for its supplies cost is $1,840 per month plus $12 per frame. For the month of March, the company
adoni [48]

Answer:

$84 unfavorable

Explanation:

The computation of the activity variance for supplies cost is shown below:

Supplies cost for the standard one is

= $1,840 + (624 frames × $12 per frame)

= $9,328

And, the supplies cost for the actual one is

= $1,840 + (631 frames × $12)

= $9,412

So the activity variance is

= $9,328 - $9,412

= $84 unfavorable

As the standard cost is less than the actual one

6 0
3 years ago
Other questions:
  • The marine corps, while also steeped in tradition and focused on the individual marine, prides itself on its quick responsivenes
    15·2 answers
  • Which of the following methods is a mathematical technique used for finding the best location for a single distribution point th
    12·1 answer
  • Wavy Company had a beginning work in process inventory balance of $ 32 comma 900$32,900. During the​ year, $ 54 comma 700$54,700
    7·1 answer
  • Undesirable traits that a person should avoid when driving are
    12·2 answers
  • Frank has just completed a study in which he gave a survey to each of 7,000 employees and their supervisors in a large bank. His
    7·1 answer
  • Marc and michelle are married and earned salaries this year of $69,200 and $13,950, respectively. in addition to their salaries,
    7·1 answer
  • Klingon Widgets, Inc., purchased new cloaking machinery three years ago for $4.4 million. The machinery can be sold to the Romul
    5·1 answer
  • Self-imposed budgets typically are:
    15·1 answer
  • Suppose Stan owns a piece of property with a large lake. Initially, Stan and his family were the only people who swam in the lak
    8·1 answer
  • Can someone help me with this question?
    12·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!