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Readme [11.4K]
2 years ago
6

Effective December 15th, 2018, the operating leases will be recorded: A) as an asset and liability on the balance sheet of the l

essee with a value equal to the estimated residual value of the leased asset. B) in the footnotes rather than on the balance sheet of the lessee. C) on the balance sheet of the lessee with value equal to the present value of future lease payments. D) only on the balance sheet and income statement of the lessor. E) only on the income statement of the lessee as each lease payment is expensed.
Business
1 answer:
Shalnov [3]2 years ago
4 0

Answer: C) on the balance sheet of the lessee with value equal to the present value of future lease payments.

Explanation:

According to IFRS 16 and US GAAP ASC 842 which commenced Jan 1, 2019 and Dec 15, 2018 respectively, Lease payments are to be recognized on the balance sheet of the Lessee at the present value of the future payments on the lease.

The discount rate to be used will be implicitly stated in the lease agreement if both parties were able to determine it.

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An emergency fund should NOT be used for...
nadya68 [22]

Answer:

An emergency fund should not be used for buying things you wan't, but an emergency fund should be used for buying the nessecities like things you need

Explanation:

Hope this helps!!! ✌

(if this did not help, please let me know)

5 0
3 years ago
Which situation best illustrates the concept of scarcity?
White raven [17]

Answer:

a person buying a used car due to limited income

8 0
2 years ago
A corporation declares a cash dividend on Friday, December 5th, payable to holders of record on Friday, December 19th. The local
andrew11 [14]

Answer: Thursday December 18

Explanation:

The ex date for regular way trades will be set at Thursday December 18. The ex date for regular way trades is typically set a day before the record date.

In this case, we are told that the corporation declares a cash dividend on Friday, December 5th, which was payable to the holders of record on Friday, December 19th.

Since the record date is the question is Friday, December 19th, then the ex date for the regular way trades will be set at Thursday December 18 which is a day before the 19th.

5 0
3 years ago
On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 60 million, $1.00 par, common shares, t
Verizon [17]

Answer:

1. Dr Stock dividends $60 million

Cr Common stock $60 million

2. $1

Explanation:

Preparation of the journal entry that summarizes the declaration and distribution of the stock split

Journal Entries for Siewert Inc

(In millions)

1. Based on the information given we were told that On June 13, the board of directors of the company declared a 2-for-1 stock split on its 60 million which means that the Journal entry will be recorded as :

Dr Stock dividends $60 million

Cr Common stock $60 million

(To record issue of stock dividend)

2. The Par value per share after split =$1 reason been that split are often in form of stock dividend.

8 0
3 years ago
Sherry owns a car business. She just received a shipment of Volkswagen SUVs. She paid $60,000 for each vehicle and wants to make
densk [106]

The selling price of the price that is offered to the buyer of the goods. The selling price of the car should be $<u><em>75,000</em></u>.

<h3>What is the selling price?</h3>

The selling price is the ultimate value of the goods the seller is willing to offer to the buyer at the time of sale. It is determined by adding up the profit margin to the actual cost of the goods.

The computation of the selling price of the car:

Given,

  • Cost price =$60,000
  • Margin =25%

\begin{aligned}\text{Selling Price}&=\text{Cost Price}+\text{Margin}\\&=\$60,000+(\$60,000\times25\%)\\&=\$60,000+\$15,000\\&=\$75,000\end{aligned}

Therefore, if Sherry wants to make 25% on the sale of each car then the car must be sold at $75,000 each.

Learn more about selling price, here:

brainly.com/question/3798799

5 0
2 years ago
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