On January 1, Lorraine, Inc., entered into a lease contract. The lease contract was a ten-year lease for a computer with $16,000 annual lease payments due at the end of each year. Lorraine took possession of the computer on January 1. The present value of the lease payments under the lease contract is $117,761. The lease contract is a finance lease. Prepare the journal entry for this lease on January 1.
Answers: 3
Another question on Business
Business, 22.06.2019 11:10
The green fiddle has declared a $5 per share dividend. suppose capital gains are not taxed, but dividends are taxed at 15 percent. new irs regulations require that taxes be withheld at the time the dividend is paid. green fiddle stock sells for $71.50 per share, and the stock is about to go ex-dividend. what will the ex-dividend price be?
Answers: 2
Business, 22.06.2019 17:30
Which curve shows increasing opportunity cost as you give up more of one option? demand curve bow-shaped curve yield curve indifference curve
Answers: 3
Business, 22.06.2019 19:40
Sue now has $125. how much would she have after 8 years if she leaves it invested at 8.5% with annual compounding? a. $205.83b. $216.67c. $228.07d. $240.08e. $252.08
Answers: 1
You know the right answer?
On January 1, Lorraine, Inc., entered into a lease contract. The lease contract was a ten-year lease...
Questions
Computers and Technology, 28.06.2019 13:30
History, 28.06.2019 13:30
Social Studies, 28.06.2019 13:30
Computers and Technology, 28.06.2019 13:30
Computers and Technology, 28.06.2019 13:30
Health, 28.06.2019 13:30
