Business, 02.04.2021 01:00 hey840

1. On January 1, 2020, ABC Lessee leased equipment from Valley Equipment Lessor at a price of $360,376. Sun Equipment Lessor has a cost in the inventory of $288,376. The lease agreement specifies 5 annual payments beginning January 1st 2020, the inception of the lease, and on each January 1st thereafter through 2024. The 5 year lease term ends on December 31, 2024. Sun Equipment Lessor estimates the useful life of the equipment to be 5 years. The residual value is estimated to be $0. The lease does not contain a renewal or purchase option, and the equipment reverts to the Lessor at the end of the 5 year period. Valley Equipment Lessor routinely leases its inventory to customers. The implicit interest in their contracts is 9%, and ABC Lessee is aware of this rate. ABC Lessee depreciates assets using the Straight-Line method for Depreciation. a. How will the lease be classified by the Lessor and Lessee

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 00:40

Select the statement that indicates tina's company is a partnership. tina jones is a dancer specializing in latin dance styles. she always wanted to have her own dance studio where she could teach dancing to young and old alike. in 2006, she opened her first dance studio, electric diva, in madison triangle. it was a great choice as a business location because it's well-connected by highways to most places in the city. she leased the space for three years. her initial investment included a good sound system, cheerful interior design, and strong flooring. to raise capital for the business, tina turned to her brother-in-law, philip. philip made half the financial investment. he manages the accounts and social media needs of the business. he has a 30% share in trisha's business. together, they expanded the business to three dance studios in the city and plan to open franchises in other cities.

Answers: 1

Answer

Business, 22.06.2019 12:30

Provide an example of open-ended credit account that caroline has. caroline blue's credit report worksheet.

Answers: 1

Answer

Business, 22.06.2019 13:10

The textbook defines ethics as “the principles of conduct governing an individual or a group,” and specifically as the standards one uses to decide what their conduct should be. to what extent do you believe that what happened at bp (british petrolium) is as much a breakdown in the company’s ethical systems as it is in its safety systems, and how would you defend your conclusion?

Answers: 2

Answer

Business, 22.06.2019 14:00

Which of the following would be an accurate statement about achieving a balanced budget

Answers: 1

Answer

You know the right answer?

1. On January 1, 2020, ABC Lessee leased equipment from Valley Equipment Lessor at a price of $360,3...

Questions