Answer:
Part 1
Dr Lease rentals $300........ Expense
Cr Cash Account $300
Part 2
Dr Leased Equipment $63,536
Cr Finance Lease Liability $63,536
Explanation:
Part 1. Under the operating leases the lessee pays the monthly rentals which must be accounted for as an expense and the double entry is as under:
Dr Lease rentals $300........ Expense
Cr Cash Account $300
Part 2. Under the finance lease agreement, the lessee pays the value of the asset and the interest as well. So after the date of agreement when the asset is handed over the journal entry would be recording of the equipment received, which would written at its fair value or present value of the payments made. The journal entry would be:
Dr Leased Equipment $63,536
Cr Finance Lease Liability $63,536
Answer:
In France:
Farmer can produce = 10 metric tons of grain or 5 metric tons of dates in a season
In Mali:
Farmer can produce = 10 metric tons of grain or 25 metric tons of dates.
(1) Mali has the absolute advantage in producing dates because Mali produces more metric tons of dates than France from the same level resources.
(2) No country has an absolute advantage in producing grain because same amount of grain were produced by both the countries with the same level of resources.
(3) Opportunity cost of dates in France = 
= 2 grain
Opportunity cost of dates in Mali = 
= 0.4 grain
Therefore, Mali's opportunity cost of producing dates is lower than France, so Mali has a comparative advantage in producing dates.
(4) Opportunity cost of grain in France = 
= 0.5 dates
Opportunity cost of grain in Mali = 
= 2.5 dates
Therefore, France's opportunity cost of producing grains is lower than Mali, so France has a comparative advantage in producing grains.
Contingent loss only should the company accrue for the current accounting period.
Explanation:
A potential failure that may or may not depend on a future occurrence. If the loss is probable and the estimation of the cost is realistic, a journal report documents the damage and liabilities.
Laws state that potential liabilities are reported in the records when a probable occurrence is potentially expected and a fair calculation may be made of the sum of liability. That will mean that in advance of the settlement, a deficit (debit) and obligation would be reported (credit).
Cloud-first strategy: a multi-service approach that re-platforms global businesses with greater speed and value. Option D. This is further explained below.
<h3>What is a Cloud-first strategy?</h3>
Generally, Based on this computing philosophy, businesses should prioritize cloud-based solutions above those not built for use with the cloud when designing new procedures or revising existing ones.
In conclusion, The cloud-first strategy is a multi-service model that enables faster, more valuable re-platforming of global organizations.
Read more about the Cloud-first strategy
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