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Oksana_A [137]
2 years ago
15

On January 1, 2020, Tamarisk Co. leased a building to Carla Vista Inc. The relevant information related to the lease is as follo

ws.
1. The lease arrangement is for 10 years. The building is expected to have a residual value at the end of the lease of $ 3,000,000 (unguaranteed).
2. The leased building has a cost of $ 3,500,000 and was purchased for cash on January 1, 2020.
3. The building is depreciated on a straight-line basis. Its estimated economic life is 50 years with no salvage value.
4. Lease payments are $ 270,000 per year and are made at the beginning of the year.
5. Carla Vista has an incremental borrowing rate of 6%, and the rate implicit in the lease is unknown to Carla Vista.
6. Both the lessor and the lessee are on a calendar-year basis.

A. Prepare the journal entries that Tamarisk should make in 2020.
B. Prepare the journal entries that Carla Vista should make in 2020.
C. If Carla Vista paid $ 30,000 to a real estate broker on January 1, 2020, as a fee for finding the lessor, what is the initial measurement of the right-of-use asset?
Business
1 answer:
pashok25 [27]2 years ago
6 0

Answer:

martphones are a type of handheld computer that do not need input, output, processing, or storage.

Explanation: sasas

8iksa

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A local art gallery keeps information on its customers regarding their preferences forcertain artists as well as the style of ar
notsponge [240]

Answer:

A - Value co - creation

Explanation:

Value co - creation is a strategy that promotes and encourages active involvement from the customer to create on-demand and made-to-order products. with this strategy,  consumers get exactly what they want and are involved in making it happen. So the Art gallery using such information is clearly using a value - co creation strategy to build loyalty among its customer.

4 0
2 years ago
Cullumber Corporation purchased 37000 shares of common stock of the Sherman Corporation for $52 per share on January 2, 2020. Sh
yawa3891 [41]

Answer:

Revenue from investment = 229,400

Explanation:

Given:

Purchased shares = 37,000

Value per share = $52

Sherman Corporation total shares = 100,000

Cash dividends = $162000

Net income = $620000

Find:

Revenue from investment = ?

Computation:

Revenue from investment = Net income (Purchased shares / Sherman Corporation total shares)

Revenue from investment = $620000 (37,000 / 100,000)

Revenue from investment = 229,400

7 0
2 years ago
Why does the use of several depressants at once often prove to be a lethal combination?
Leona [35]

<span>The nervous system uses Gamma-Amino Butyric acid (GABA) as a neurotransmitter in the central nervous system. The use of several depressants increases the transmission of GABA that may cause the nervous system to slow down. The reaction of the body to several depressants is also unpredictable which makes it more dangerous.</span>

8 0
3 years ago
All large modern economies have become mostly market economies because market economies provide __________.
7nadin3 [17]
The answer is C. Hoped this helped you
7 0
3 years ago
If there are 10,000 people in your age bracket, and 10 of them died last year, an insurance
vaieri [72.5K]

Probability of someone in that age bracket dying this year would be .001

Explanation:

A degree in Risk Management is a form of academic degree granted to students in a post-secondary program focused on Risk Management. A student, university and business school may earn risk management degrees.

The sum of confusion that occurs in a given situation.

For example, if the heads are selected in a coin toss, the amount of risk involved is 50 per cent, as there is a 50 per cent probability that every coin toss will end up with tails. See also the Theory of Large Number, Odds and Probability.

5 0
3 years ago
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