Answer:
The amount reported as amortization expense on the income statement is the annual lease payment of $133,212.00
Explanation:
Lease can belong to any of the two classes, namely operating lease and finance lease.
This is an example of operating lease where risks and rewards of ownership are not transferred to the lesse(the tenant), as a result the lesse cannot recognize the right-of-use asset on its balance sheet as well as lease liabilities.
Under operating, the lease payments made periodically is treated as the lease expense for the period it relates,this account for my position that the amortization expense on the income statement is the lease rental of $133,212.00
Answer:
Following are the solution to the given point:
Explanation:
Calculating the value of the effective interest rate:
Formula:
Calculating the value of Effective annual rate of interest:
Calculating the Amount in each semiannual payment:
Calculating the value of the total interest paid:
Answer:
Big data
Explanation:
Big data is defined as the methods of analysing and extracting meaningful insights from data that is so large that traditional data processing methods cannot be used to analyse.
Challenges encountered when analysing big data include data capture, data storage, data analysis, sharing, transfer, visualisation, querying, and updating.
ABC Medical Technology has accumulated so much client information that conventional database management systems cannot handle its customers' needs. It uses big data analysis to extract relevant information.
Answer:
The amount of the net new equity raised during the year is $34,000.
Explanation:
Net new equity = total equity - common stock - paid-in surplus - (retained earnings + net income - paid dividends)
= $142,430 - $55,000 - $11,200 - ($48,420 + $26,310 - $32,500)
= $34,000
Therefore, the amount of the net new equity raised during the year is $34,000.
