On January 1, 2021, Western Edison Company leased equipment to SmartStream Electric Company under a nine-year lease arrangement. Western Edison seeks a 10% return on its lease investments. The agreement specifies annual payments of $15 million beginning January 1, 2021, and at each January 1 thereafter through 2029. The PV of the nine required payments is $103.5 million and the FV of the leased equipment is $117 million as of January 1, 2021. The equipment had been manufactured by Northern Edison for $108 million and is expected to have a useful life of 11 years with no salvage value. Northern incurred $10,000 in legal fees for the preparation of the lease documents. Because the lease term is only for nine years, the equipment has an expected residual value of $31.8 million. Required:
Prepare the two January 1, 2020 journal entries for The Northern Edison Company.

The following cost data pertain to the operations of montgomery department stores, inc., for the month of july. corporate legal office salaries $ 75,300apparel department cost of sales"evendale store $ 97,200corporate headquarters building lease $ 50,300store manager's salary"evendale store $ 12,900apparel department sales commission"evendale store $ 11,550store utilities"evendale store $ 12,800apparel department manager's salary"evendale store $ 10,450central warehouse lease cost $ 18,600janitorial costs"evendale store $ 11,800 the evendale store is just one of many stores owned and operated by the company. the apparel department is one of many departments at the evendale store. the central warehouse serves all of the company's stores. required: 1. what is the total amount of the costs listed above that are direct costs of the apparel department? 2. what is the total amount of the costs listed above that are direct costs of the evendale store? 3. what is the total amount of the apparel department's direct costs that are also variable costs with respect to total departmental sales?

After successfully completing your corporate finance class, you feel the next challenge ahead is to serve on the board of directors of schenkel enterprises. unfortunately, you will be the only person voting for you. the company has 375,000 shares outstanding, and the stock currently sells for $40, if there are four seats in the current election, how much will it cost you to buy a seat?

Popeye produces 20 cans of spinach in 8 hours. wimpy produces 15 hamburgers in 10 hours. if each hamburger trades for 1.5 cans of spinach, then: a.wimpy’s production and productivity are greater than popeye’s. b.popeye’s production is greater than wimpy’s, but his productivity is less. c.wimpy’s production is greater than popeye’s, but his productivity is less. d.popeye’s production and productivity are greater than wimpy’s.