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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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Answer: a statute

Explanation:

Minnesota legislature passed a law requiring that employers allow each employee adequate time within each four consecutive hours of work to utilize the nearest convenient restroom. This law is a statute.

A statute is simply a written law that has been passed by a legislative body. It is a specific statement that the legislative body has approved and also endorsed by an executive body.

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2 years ago
You are considering a project with an initial cost of $4,600. What is the payback period for this project if the cash inflows ar
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The correct answer is C, 2.89 years
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Folsom Fashions sells a line of women's dresses. The company uses flexible budgets to analyze its performances. The firm's perfo
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Answer is below in attachment

Download docx
8 0
3 years ago
Kiev, the manager of an accounting department, helps his cfo in framing the financial policies of his company. in this scenario,
cestrela7 [59]

Kyiv, the manager of an accounting department, helps his CFO in framing the financial policies of his company. in this scenario, Kyiv is carrying out the leadership role of a(n) strategy developer.

The definition of a manager is someone who is responsible for overseeing and motivating employees and directing the progress of an organization. Examples of managers include those responsible for customer service, handling customer disputes, and supervising and monitoring customer service representatives.

A good manager can lead a team and help it grow while maintaining complete control over the business and its performance. These people are the ones who can always adapt to new situations, encourage others to reach their full potential, and achieve their highest goals. A manager is an organizational representative who is responsible for managing the work of a group of employees and taking necessary actions when necessary.

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5 0
1 year ago
An index model regression applied to past monthly returns in Ford’s stock price produces the following estimates, which are beli
Neko [114]

Answer:

(1.32%)

Explanation:

The computation of the abnormal change in Ford’s stock price is shown below:

Given that

rF = 0.1% + 1.1rM

If the market index rises by 10.2%

So, now the equation is

= 0.1% + 1.1 × 10.2%

= 0.1% + 11.22%

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3 years ago
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