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katrin [286]
2 years ago
5

On January 1, 2018, Gibson Corporation entered into a four-year operating lease. The payments were as follows: $20,000 for 2018,

$18,000 for 2019, $16,000 for 2020, and $14,000 for 2021. What is the correct amount of total lease expense for 2019
Business
1 answer:
antiseptic1488 [7]2 years ago
3 0

Based on accounting principles, the correct amount for total lease expense in 2019 is<u> $17,000.</u>

<h3>Why is this the correct amount?</h3>

Accounting principles state that lease payments must be recorded as an equal amount over the years of the lease.

The total lease payment is:

= 20,000 + 18,000 + 16,000 + 14,000

= $68,000

Annual payment is:

= 68,000 / 4

= $17,000

Find out more on lease payments at brainly.com/question/5563107.

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Nokia’s loss of market share of U.S. cell phone business is a result of __________
Kipish [7]

Answer:

The correct answer is: conscious strategic decisions made by the company.

Explanation:

Finnish Company Nokia reported a $1,36 billion loss in sales by 2009 because of the decrease of 20% in sales worldwide during that year and 25% only in the United States the previous year. Even if the company is trying to recover nowadays, the emerging of new technology and competitors is still a struggle for the firm. Back in 2009, they were forced to give up part of their market share in order to restructure the company. This represents a well-thought strategy carried out by them if they wanted to still be in the business.

7 0
3 years ago
Which of the following is a key reason for using business-type accounting to account for proprietary fund activities? a. The mod
Sergio [31]

Answer: the corrcet answer is c. The measurement focus on all economic resources is more consistent with the GASB’s objectives that financial reporting should provide information to determine whether current-year revenues were sufficient to pay for current-year services.

Explanation:

The GASB stands for the Governmental Accounting Standards Board (GASB) and is the source of generally accepted accounting principles (GAAP) used by state and local governments in the United States. As with most of the entities involved in creating GAAP in the United States, it is a private, non-governmental organization. The answer is clear above; it only needed some clarification with the acronyms.

7 0
4 years ago
In the text, all of the following are listed as characteristics of the counselor as a therapeutic person except: ​ Group of answ
mafiozo [28]

Answer:

Option"A" is the correct answer of the following statement.

counselors no longer have to cope with personal problems.

Explanation:

A counselor is a professional person who is specially trained to give advice. Counselors give proper advice to people on the strength of their specialized training. A good example of a consultant might also be a business consultant who uses his or her specialized knowledge to make appropriate decisions for a business.

The counselor is also like a common person, he also has to face many difficulties in life.

7 0
4 years ago
When an investor purchases Class A shares of a mutual fund in their brokerage account at a FINRA member firm, the sales charge i
Viktor [21]

When an investor purchases Class A shares of a mutual fund in their brokerage account at a FINRA member firm, the sales charge is apportioned to all of the following except The mutual fund.

<h3>What does it mean to be a member of FINRA?</h3>

The Financial Industry Regulatory Authority (FINRA) is an independent, nongovernmental organization that writes and enforces the rules governing registered brokers and broker-dealer firms in the United States.

A member is a registered investment firm or a brokerage or a dealership. Generally, an associated person is registered under the company rules and holds an important position at a company making investment decisions.

To learn more about FINRA visit the link

brainly.com/question/13678897

#SPJ4

8 0
2 years ago
They want to make a profit of $55,498 Unit Variable costs = $11 Unit selling price is = $37 Fixed costs = $18,470 How many units
belka [17]

Answer:

2,845 units

Explanation:

To find the answer you need to consider that the profit is equal to the sales minus the costs.

Let's consider that x is the number of units sold

Sales= Price per unit*number of units sold

Sales= 37x

Variable cost= Cost per unit*number of units sold

Variable cost= 11x

Fixed cost= 18,470

55,498=37x-11x-18,470

55,498+18,470=26x

73,968=26x

x=73,968/26= 2,845

According to this, the answer is that they need to sell 2,845 units to make the desired profit.

6 0
3 years ago
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