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Oksana_A [137]
3 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]3 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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Elan Coil [88]

Answer:

Access Control List

Explanation:

An access control list is a table that tells a computer operating system(windows, Mac-os, Linux) which access rights a user or group of users have to certain object on the computer system. The object to be accessed may range from an individual file to a directory.

The most commonly allowed accesses includes the ability to read files, execute files (i.e if the files is executable; .exe), write to the file.  

3 0
3 years ago
If you start investing a little money now you will most likely have a lot more mone than those who start investing later on in l
Afina-wow [57]

True, usually the earlier you invest the more money you will get later down the road.  

7 0
3 years ago
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The variance analysis cycle ______. Multiple choice question. begins with the preparation of the budget includes the investigati
Ludmilka [50]

The variance analysis cycle<u> C. begins with the preparation of </u><u>performance reports</u><u>.</u>

<h3>What is a performance report?</h3>

A performance report is at the heart of the variance analysis cycle.

The performance report details the following:

  • Calculates the difference between actual and budgeted expenditure and revenue.
  • Analyzes the differences into various variances, determining if they are favorable or unfavorable or have no effects.
  • Investigates the reasons for the differences.
  • Puts the information together and reports to management.

Thus, the variance analysis cycle<u> C. begins with the preparation of </u><u>performance reports</u><u>.</u>

Learn more about performance reports and variances at brainly.com/question/13287252

4 0
2 years ago
Thomas is the owner of a landscaping company that caters to a very wealthy clientele. His company has struggled to differentiate
ankoles [38]

Answer: The correct option is C.

Explanation: From the scenario given above, we can see that Thomas has not shown any intention to replace the expensive team members, the only option in this case would then be to properly utilize their expertise to the advantage of the company.

In order to do this therefore, a SWOT analysis would need to be carried out and utilized in gaining an edge over the competition.

In this case, Thomas would make sure that the expertise of all his team members are brought to bare, the company would analyze the competition to see where it is lacking in customer satisfaction, and then try to gain the upper hand by including features in their product that the competition does not have in theirs.

This strategy will help in achieving a competitive advantage.

5 0
3 years ago
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Answer the following questions about prepaid​ expenses:
pochemuha

Answer:

the numbers are missing, so I looked for a similar question:

a. On ​1, Tree Service prepaid $7,200 for six​ months' rent. Give the adjusting entry to record rent expense at Include the date of the entry and an explanation. Then post all amounts to the two accounts​ involved, and show their balances at adjusts the accounts only at ​31, the end of its fiscal year.

Dr Rent expense 1,200 (= $7,200 / 6)

    Cr Prepaid rent 1,200

Balances:

Prepaid rent 6,000

Rent expense 1,200

b. On ​1, Tree Service paid $1,050 for supplies. At ​31, has $400 of supplies on hand. Make the required journal entry at 31. Then post all amounts to the accounts and show their balances at 31. Assume no beginning balance in supplies.

Dr Supplies expense 650 (= $1,050 - $400)

    Cr Supplies 650

Balances:

Supplies 400

Supplies expense 650

c. On ​1, Tree Service prepaid for six​ months' rent. Give the adjusting entry to record rent expense at Include the date of the entry and an explanation. Then post all amounts to the two accounts​ involved, and show their balances at adjusts the accounts only at ​31, the end of its fiscal year. Prepare the adjusting journal entry to record the rent expense at 31.

SAME AS QUESTION A

6 0
4 years ago
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