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notsponge [240]
3 years ago
6

A six-year Finance Lease entered into on December 31 of the current year specified equal annual lease payments due on December 3

1 of each year. The first annual lease payment, paid on December 31 this year, consists of which of the following?
1. Interest expense
2. Lease liability

a. Yes Yes
b. Yes No
c. No Yes
d. No No
Business
1 answer:
Mkey [24]3 years ago
7 0

Answer:

C

Explanation:

Finance lease is an indirect way of providing a finance for an asset through a lease arrangement. The lessor acquires the asset and leases it out to the lessee , however , the lessee recognizes the leased asset as an asset in its book provided certain lease conditions are met.

The two components of finance lease obligation are Interest and the lease payment.

In this scenario , as the payment was made at the onset of the lease arrangement , no interest expense has accrued and none will be recognized. The first lease payment made will reduce the lease liability of the asset as agreed in the arrangement. .

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1. 110
2. 75
Won 110
Lost 35.
I tried my best sorry if it wrong.
5 0
2 years ago
Hi there !
Zanzabum

Answer:

Capital expenditures are typically one-time large purchases of fixed assets that will be used for revenue generation over a longer period while revenue expenditures are typically referred to as ongoing operating expenses, which are short-term expenses that are used in running the daily business operations.

6 0
2 years ago
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Sourcing a supply from a small, women-owned business is an example of a corporate social responsibility action to?
WARRIOR [948]

Sourcing a supply from a small, women-owned business is an example of a corporate social responsibility action to promote workforce diversity.

What is workforce diversity?

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Overall, such kind gesture would reflect on the financials of the company sooner or later by a way of increasing sales revenue and consequently, increase profitability

Find out more about corporate social responsibility on:brainly.com/question/13334545

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5 0
1 year ago
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List the main differences between a free-market system, a command economy, and a mixed economy.
soldier1979 [14.2K]
A command economy is no freedom to the people.
The mixed economy has public input and government input
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6 0
3 years ago
Sasha is a single woman who is paid $16 per hour for 2,000 hours of work per year. Using her exemption of $4,050 and her standar
densk [106]
For this case what you must do is the following operation:
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 Substituting the values we have:
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 Taxable income = 21600 $
 Answer: 
 her taxable income is 21600 $
4 0
3 years ago
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