Business, 16.10.2020 03:01 DatBoiCedd

On December 31, 2020, Reagan Inc. signed a lease with Silver Leasing Co. for some equipment having a seven-year useful life. The lease payments are made by Reagan annually, beginning at signing date. Title does not transfer to the lessee, so the equipment will be returned to the lessor on December 31, 2026. There is no purchase option, and Reagan guarantees a residual value to the lessor on termination of the lease. Reagan's lease amortization schedule appears below: Decrease in Outstanding
Dec. 31 Payments Interest Balance Balance
2020 $410,442
2020 $74,700 $74,700 335,742
2021 $74,700 $20,145 54,555 281,187
2022 $74,700 16,871 57,829 223,358
2023 $74,700 13,401 61,299 162,059
2024 $74,700 9,724 64,976 97,083
2025 $74,700 5,825 68,875 28,208
2026 $29,900 1,692 28,208 0
What is the amount of residual value guaranteed by Reagan to the lessor?

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 13:40

The cook corporation has two divisions--east and west. the divisions have the following revenues and expenses: east west sales $ 603,000 $ 506,000 variable costs 231,000 300,000 traceable fixed costs 151,500 192,000 allocated common corporate costs 128,600 156,000 net operating income (loss) $ 91,900 $ (142,000 ) the management of cook is considering the elimination of the west division. if the west division were eliminated, its traceable fixed costs could be avoided. total common corporate costs would be unaffected by this decision. given these data, the elimination of the west division would result in an overall company net operating income (loss)

Answers: 1

Answer

Business, 22.06.2019 21:30

True or false payroll withholding includes income tax, social security tax, medicare tax as well as money you deduct for your retirement fund.

Answers: 1

Answer

Business, 22.06.2019 23:30

Part 1: interview at least three different people you know that fall within three age ranges (25-35), (36-50), and (51-70) year of age. ask each person you interview if they have life insurance (term, whole life etc.) and health insurance. ask what factors influenced their decision to buy or not the insurance coverage? report your findings to this assignment. specify who the people were that you spoke with.\

Answers: 3

Answer

Business, 23.06.2019 00:10

Many years ago, sprint telecommunications aired an advertisement intended to demonstrate the clarity of reception sprint customers could expect. the ad showed a rancher, who had used a different company, complaining that he had ordered 100 oxen from his supplier and instead received 100 dachshunds. the mix-up was probably due to the presence of in the communication process.

Answers: 3

Answer

You know the right answer?

On December 31, 2020, Reagan Inc. signed a lease with Silver Leasing Co. for some equipment having a...

Questions