Southwestern Edison Company leased equipment from Hi-Tech Leasing on January 1, 2021. Hi-Tech manufactured the equipment at a cost of $92,500.

Other information:
Lease term 4 years
Annual payments $45,000 on January 1 each year
Life of asset 4 years
Fair value of asset $165,285
Implicit interest rate 6%
Incremental rate 6%
PV, annuity due, 3 periods, 8% 2.7833
PV, ordinary annuity, 3 periods, 8% 2.5771

There is no expected residual value.
Required:
Prepare appropriate journal entries for Southwestern Edison for 2021and 2022. Assume straight-line amortization and a December 31 year-end.

Job a3b was ordered by a customer on september 25. during the month of september, jaycee corporation requisitioned $2,400 of direct materials and used $3,900 of direct labor. the job was not finished by the end of the month, but needed an additional $2,900 of direct materials in october and additional direct labor of $6,400 to finish the job. the company applies overhead at the end of each month at a rate of 100% of the direct labor cost. what is the amount of job costs added to work in process inventory during october?

In 2018, laureen is currently single. she paid $2,800 of qualified tuition and related expenses for each of her twin daughters sheri and meri to attend state university as freshmen ($2,800 each for a total of $5,600). sheri and meri qualify as laureen’s dependents. laureen also paid $1,900 for her son ryan’s (also laureen’s dependent) tuition and related expenses to attend his junior year at state university. finally, laureen paid $1,200 for herself to attend seminars at a community college to her improve her job skills.what is the maximum amount of education credits laureen can claim for these expenditures in each of the following alternative scenarios? a. laureen's agi is $45,000.b. laureen’s agi is $95,000.c. laureen’s agi is $45,000 and laureen paid $12,000 (not $1,900) for ryan to attend graduate school (i.e, his fifth year, not his junior year).

Which investment has the liquidity and can be converted into cash easily?