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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

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elena55 [62]

Answer:

Status differences.

Explanation:

Since Ken, whose primary job is supervising a small production group, isn't getting cooperation from all members on the cross-functional team he leads. In particular, Bethany, a senior marketing manager, seems to resist his direction and tries to influence team members to go in another direction. The source of conflict in this case may be status differences.

A status difference in workplaces occurs between various workers or employees as a result of perceived thought of being higher than the other employees because of factors such as educational background, qualifications, age, intelligence, gender etc.

Basically, the top executives or human resources managers in organizations should strive really hard to reduce status differences at workplace through counseling, because it inhibits growth and development.

6 0
3 years ago
Net income equals: Question 2 options: Cash receipts minus cash payments. Assets minus liabilities. Revenues minus cost of goods
Alborosie

Answer:

Revenues minus expenses.

Explanation:

Net income = Revenue -  (cost of goods sold + selling, general and administrative expenses + depreciation + net interest expense + income tax)

Revenues minus cost of goods sold gives gross profit

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3 years ago
2 points Time Remaining 23 minutes 4 seconds00:23:04 eBookItem 7 Time Remaining 23 minutes 4 seconds00:23:04 On April 30, Gomez
mash [69]

Answer: $51,400

Explanation:

Credits to Accounts Receivable represent a reduction in the Accounts receivable amount.

The formula for Closing balance is:

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Making Credit sales the subject will make the formula:

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= 56,800 + 17,000 - 22,400

= $51,400

6 0
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During last month, your beginning inventory was $17,500, your purchases were $19,252, and your ending inventory was $15,757. Wha
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$20,995

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3 years ago
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