1a. record the beginning of the lease for Nguyen
1b. record the beginning of the lease for Nevels
2a. record the lease payment for Nguyen
2b. record the amortization expense for Nguyen
2c. record the lease payment received by Nevels
Homework Answers
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1a. record the beginning of the lease for Nguyen
1b. record the beginning of the lease...
On January 1, 2021, Nguyen Electronics leased equipment from Nevels Leasing for a four-year period ending...
On January 1, 2021, Nguyen Electronics leased equipment from Nevels Leasing for a four-year period ending December 31, 2024, at which time possession of the leased asset will revert back to Nevels. The equipment cost Nevels $844,309 and has an expected economic life of five years. Nevels expects the residual value at December 31, 2024, will be $108,000. Negotiations led to the lessee guaranteeing a $156,000 residual value. Equal payments under the lease are $208,000 and are due on December...
On January 1, 2018, Nguyen Electronics leased equipment from Nevels Leasing for a four-year period ending...
On January 1, 2018, Nguyen Electronics leased equipment from Nevels Leasing for a four-year period ending December 31, 2021, at which time possession of the leased asset will revert back to Nevels. The equipment cost Nevels $845,368 and has an expected economic life of five years. Nevels expects the residual value at December 31, 2021, will be $121,000. Negotiations led to the lessee guaranteeing a $182,000 residual value. Equal payments under the lease are $221,000 and are due on December...
On January 1, 2018, Nguyen Electronics leased equipment from Nevels Leasing for a four-year period ending...
On January 1, 2018, Nguyen Electronics leased equipment from Nevels Leasing for a four-year period ending December 31, 2018, at which time possession of the leased asset will revert back to Nevels. The equipment cost Nevels $825,368 and has an expected economic life of five years. Nevels expects the residual value at December 31, 2018, will be $101,000. Negotiations led to the lessee guaranteeing a $142,000 residual value. Equal payments under the lease are $201,000 and are due on December...
On January 1, 2018, Nguyen Electronics leased equipment from Nevels Leasing for a four-year period ending...
On January 1, 2018, Nguyen Electronics leased equipment from Nevels Leasing for a four-year period ending December 31, 2021, at which time possession of the leased asset will revert back to Nevels. The equipment cost Nevels $829,368 and has an expected economic life of five years. Nevels expects the residual value at December 31, 2021, will be $105,000. Negotiations led to the lessee guaranteeing a $150,000 residual value. Equal payments under the lease are $205,000 and are due on December...
On January 1, 2021, Nguyen Electronics leased equipment from Nevels Leasing for a four-year period ending...
On January 1, 2021, Nguyen Electronics leased equipment from Nevels Leasing for a four-year period ending December 31, 2024, at which time possession of the leased asset will revert back to Nevels. The equipment cost Nevels $853,031 and has an expected economic life of five years. Nevels expects the residual value at December 31, 2024, will be $114,000. Negotiations led to the lessee guaranteeing a $168,000 residual value. Equal payments under the lease are $214,000 and are due on December...
On January 1, 2021, Allied Industries leased a high-performance conveyer to Karrier Company for a four-year...
On January 1, 2021, Allied Industries leased a high-performance conveyer to Karrier Company for a four-year period ending December 31, 2024, at which time possession of the leased asset will revert back to Allied. The equipment cost Allied $975,000 and has an expected useful life of five years. Allied expects the residual value at December 31, 2024, will be $319,000. Negotiations led to the lessee guaranteeing a $378,000 residual value. Equal payments under the finance/sales-type lease are $219,000 and are...
On January 1, 2021, Allied Industries leased a high-performance conveyer to Karrier Company for a four-year...
On January 1, 2021, Allied Industries leased a high-performance conveyer to Karrier Company for a four-year period ending December 31, 2024, at which time possession of the leased asset will revert back to Allied. The equipment cost Allied $971,000 and has an expected useful life of five years. Allied expects the residual value at December 31, 2024, will be $315,000. Negotiations led to the lessee guaranteeing a $370,000 residual value. Equal payments under the finance/sales-type lease are $215,000 and are...
On January 1, 2021, Allied Industries leased a high-performance conveyer to Karrier Company for a four-year...
On January 1, 2021, Allied Industries leased a high-performance conveyer to Karrier Company for a four-year period ending December 31, 2024, at which time possession of the leased asset will revert back to Allied. The equipment cost Allied $965,000 and has an expected useful life of five years. Allied expects the residual value at December 31, 2024, will be $309,000. Negotiations led to the lessee guaranteeing a $358,000 residual value. Equal payments under the finance/sales-type lease are $209,000 and are...
On January 1, 2021, Maywood Hydraulics leased drilling equipment from Aqua Leasing for a three-year period...
On January 1, 2021, Maywood Hydraulics leased drilling equipment from Aqua Leasing for a three-year period ending December 31, 2024, at which time possession of the leased asset will revert back to Aqua. The equipment cost Aqua $430,152 and has an expected economic life of four years. Aqua expects the residual value at December 31, 2024, to be $66,000. Negotiations led to Maywood guaranteeing a $94,000 residual value. Equal payments under the lease are $132,000 and are due on December...
On January 1, 2021, Maywood Hydraulics leased drilling equipment from Aqua Leasing for a three-year period...
On January 1, 2021, Maywood Hydraulics leased drilling equipment
from Aqua Leasing for a three-year period ending December 31, 2024,
at which time possession of the leased asset will revert back to
Aqua. The equipment cost Aqua $423,414 and has an expected economic
life of four years. Aqua expects the residual value at December 31,
2024, to be $60,000. Negotiations led to Maywood guaranteeing a
$85,000 residual value.
Equal payments under the lease are $120,000 and are due on
December...
On January 1, 2021, Nguyen Electronics leased equipment from Nevels Leasing for a four-year period ending December 31, 2024, at which time possession of the leased asset will revert back to Nevels. The equipment cost Nevels $844,309 and has an expected economic life of five years. Nevels expects the residual value at December 31, 2024, will be $108,000. Negotiations led to the lessee guaranteeing a $156,000 residual value. Equal payments under the lease are $208,000 and are due on December...
On January 1, 2018, Nguyen Electronics leased equipment from Nevels Leasing for a four-year period ending December 31, 2021, at which time possession of the leased asset will revert back to Nevels. The equipment cost Nevels $829,368 and has an expected economic life of five years. Nevels expects the residual value at December 31, 2021, will be $105,000. Negotiations led to the lessee guaranteeing a $150,000 residual value. Equal payments under the lease are $205,000 and are due on December...
On January 1, 2021, Nguyen Electronics leased equipment from Nevels Leasing for a four-year period ending December 31, 2024, at which time possession of the leased asset will revert back to Nevels. The equipment cost Nevels $853,031 and has an expected economic life of five years. Nevels expects the residual value at December 31, 2024, will be $114,000. Negotiations led to the lessee guaranteeing a $168,000 residual value. Equal payments under the lease are $214,000 and are due on December...
On January 1, 2021, Allied Industries leased a high-performance conveyer to Karrier Company for a four-year period ending December 31, 2024, at which time possession of the leased asset will revert back to Allied. The equipment cost Allied $975,000 and has an expected useful life of five years. Allied expects the residual value at December 31, 2024, will be $319,000. Negotiations led to the lessee guaranteeing a $378,000 residual value. Equal payments under the finance/sales-type lease are $219,000 and are...
On January 1, 2021, Maywood Hydraulics leased drilling equipment
from Aqua Leasing for a three-year period ending December 31, 2024,
at which time possession of the leased asset will revert back to
Aqua. The equipment cost Aqua $423,414 and has an expected economic
life of four years. Aqua expects the residual value at December 31,
2024, to be $60,000. Negotiations led to Maywood guaranteeing a
$85,000 residual value.
Equal payments under the lease are $120,000 and are due on
December...
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