Brief Exercise 21A-13 Monty Corporation manufactures drones. On December 31, 2016, it leased to Althaus Company...
Brief Exercise 21A-13
Monty Corporation manufactures drones. On December 31, 2016, it
leased to Althaus Company a drone that had cost $174,000 to
manufacture. The lease agreement covers the 5-year useful life of
the drone and requires five equal annual rentals of $58,800 payable
each December 31, beginning December 31, 2016. An interest rate of
9% is implicit in the lease agreement. Collectibility of the
rentals is not probable.
Prepare any journal entry for Monty on December 31, 2016.
(Credit account titles are automatically indented when
the amount is entered. Do not indent manually.)
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Account Titles and Explanation |
Debit |
Credit |
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Homework Answers
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Brief Exercise 21A-13
Monty Corporation manufactures drones. On December 31, 2016, it
leased to Althaus Company...
Brief Exercise 21A-12 Sage Hill Corporation manufactures drones. On December 31, 2016, it leased to Althaus...
Brief Exercise 21A-12
Sage Hill Corporation manufactures drones. On December 31, 2016,
it leased to Althaus Company a drone that had cost $105,300 to
manufacture. The lease agreement covers the 5-year useful life of
the drone and requires 5 equal annual rentals of $43,200 payable
each December 31, beginning December 31, 2016. An interest rate of
11% is implicit in the lease agreement. Collectibility of the
rentals is probable.
Prepare Sage Hill’s December 31, 2016, journal entries.
(Credit account titles...
Novak Corporation manufactures drones. On December 31, 2019, it leased to Althaus Company a drone that...
Novak Corporation manufactures drones. On December 31, 2019, it leased to Althaus Company a drone that had cost $138,000 to manufacture. The lease agreement covers the 5-year useful life of the drone and requires five equal annual rentals of $46,800 payable each December 31, beginning December 31, 2019. An interest rate of 6% is implicit in the lease agreement. Collectibility of the rentals is not probable. Prepare any journal entry for Novak on December 31, 2019. (Credit account titles are...
Marin Corporation manufactures drones. On December 31, 2016, it leased to Althaus Company a drone that...
Marin Corporation manufactures drones. On December 31, 2016, it leased to Althaus Company a drone that had cost $118,900 to manufacture. The lease agreement covers the 5-year useful life of the drone and requires 5 equal annual rentals of $41,800 payable each December 31, beginning December 31, 2016. An interest rate of 10% is implicit in the lease agreement. Collectibility of the rentals is probable. Prepare Marin's December 31, 2016, journal entries. (Credit account titles are automatically indented when amount...
Question 27 Blue Corporation manufactures replicators. On January 1, 2017, it leased to Althaus Company a...
Question 27 Blue Corporation manufactures replicators. On January 1, 2017, it leased to Althaus Company a replicator that had cost $102,700 to manufacture. The lease agreement covers the 5-year useful life of the replicator and requires 5 equal annual rentals of $41,900 payable each January 1, beginning January 1, 2017. An interest rate of 12% is implicit in the lease agreement. Collectibility of the rentals is reasonably assured, and there are no important uncertainties concerning costs. Prepare Blue’s January 1,...
Skysong Corporation manufactures replicators. On January 1, 2017, it leased to Althaus Company a replicator that...
Skysong Corporation manufactures replicators. On January 1, 2017, it leased to Althaus Company a replicator that had cost $115,000 to manufacture. The lease agreement covers the 5-year useful life of the replicator and requires 5 equal annual rentals of $41,200 payable each January 1, beginning January 1, 2017. An interest rate of 10% is implicit in the lease agreement. Collectibility of the rentals is reasonably assured, and there are no important uncertainties concerning costs. Prepare Skysong's January 1, 2017, journal...
BE21-12. use the information for geiberger corporation from be21-12 , expect assume the collictibility of the...
BE21-12. use the information for geiberger corporation from be21-12
, expect assume the collictibility of the rentals is not probable.
prepare any journal entries for Geiberger on december
31,2016.
i
need soluton for both of the probles in the picture.
(BE21.11L03) Geiberger AG manufactures drones. On Decem- ber 31, 2018, it leased to Althaus SA a drone that had cost €120,000 to manufacture. The lease agreement covers the 5-year useful life of the drone and requires five equal annual rentals...
Brief Exercise 21A-11 Assume that IBM leased equipment that was carried at a cost of $189,000...
Brief Exercise 21A-11
Assume that IBM leased equipment that was
carried at a cost of $189,000 to Blossom Company. The term of the
lease is 6 years December 31, 2016, with equal rental payments of
$43,864 beginning December 31, 2016. The fair value of the
equipment at commencement of the lease is $219,000. The equipment
has a useful life of 6 years with no salvage value. The lease has
an implicit interest rate of 8%, no bargain purchase option, and...
Martinez Corporation manufactures replicators. On January 1, 2017, it leased to Althaus Company a replicator that...
Martinez Corporation manufactures replicators. On January 1,
2017, it leased to Althaus Company a replicator that had cost
$102,900 to manufacture. The lease agreement covers the 5-year
useful life of the replicator and requires 5 equal annual rentals
of $44,300 payable each January 1, beginning January 1, 2017. An
interest rate of 11% is implicit in the lease agreement.
Collectibility of the rentals is reasonably assured, and there are
no important uncertainties concerning costs.
Prepare Martinez’s January 1, 2017, journal...
Oriole Corporation manufactures replicators. On January 1, 2017, it leased to Althaus Company a replicator that...
Oriole Corporation manufactures replicators. On January 1, 2017,
it leased to Althaus Company a replicator that had cost $106,500 to
manufacture. The lease agreement covers the 5-year useful life of
the replicator and requires 5 equal annual rentals of $44,100
payable each January 1, beginning January 1, 2017. An interest rate
of 11% is implicit in the lease agreement. Collectibility of the
rentals is reasonably assured, and there are no important
uncertainties concerning costs.
Prepare Oriole’s January 1, 2017, journal...
nment NEXT CALCULATOR PRINTER VERSION BACK Brief Exercise 21-11 Skysong Cerporation manufactures replicators. On January 1,...
nment NEXT CALCULATOR PRINTER VERSION BACK Brief Exercise 21-11 Skysong Cerporation manufactures replicators. On January 1, 2017, it leased to Althaus Company a replicater that had cost $99,400 to manufacture. The lease agreement covers the 5-year useful life of the replicator and requires 5 equal annual rentals of $44,500 payable each January 1, beginning January 1, 2017. An interest rate of 11 % is implicit in the lease agreement. Collectibility of the rentals is reasonably assured, and there are no...
Brief Exercise 21A-12
Sage Hill Corporation manufactures drones. On December 31, 2016,
it leased to Althaus Company a drone that had cost $105,300 to
manufacture. The lease agreement covers the 5-year useful life of
the drone and requires 5 equal annual rentals of $43,200 payable
each December 31, beginning December 31, 2016. An interest rate of
11% is implicit in the lease agreement. Collectibility of the
rentals is probable.
Prepare Sage Hill’s December 31, 2016, journal entries.
(Credit account titles...
Marin Corporation manufactures drones. On December 31, 2016, it leased to Althaus Company a drone that had cost $118,900 to manufacture. The lease agreement covers the 5-year useful life of the drone and requires 5 equal annual rentals of $41,800 payable each December 31, beginning December 31, 2016. An interest rate of 10% is implicit in the lease agreement. Collectibility of the rentals is probable. Prepare Marin's December 31, 2016, journal entries. (Credit account titles are automatically indented when amount...
Skysong Corporation manufactures replicators. On January 1, 2017, it leased to Althaus Company a replicator that had cost $115,000 to manufacture. The lease agreement covers the 5-year useful life of the replicator and requires 5 equal annual rentals of $41,200 payable each January 1, beginning January 1, 2017. An interest rate of 10% is implicit in the lease agreement. Collectibility of the rentals is reasonably assured, and there are no important uncertainties concerning costs. Prepare Skysong's January 1, 2017, journal...
BE21-12. use the information for geiberger corporation from be21-12
, expect assume the collictibility of the rentals is not probable.
prepare any journal entries for Geiberger on december
31,2016.
i
need soluton for both of the probles in the picture.
(BE21.11L03) Geiberger AG manufactures drones. On Decem- ber 31, 2018, it leased to Althaus SA a drone that had cost €120,000 to manufacture. The lease agreement covers the 5-year useful life of the drone and requires five equal annual rentals...
Brief Exercise 21A-11
Assume that IBM leased equipment that was
carried at a cost of $189,000 to Blossom Company. The term of the
lease is 6 years December 31, 2016, with equal rental payments of
$43,864 beginning December 31, 2016. The fair value of the
equipment at commencement of the lease is $219,000. The equipment
has a useful life of 6 years with no salvage value. The lease has
an implicit interest rate of 8%, no bargain purchase option, and...
Martinez Corporation manufactures replicators. On January 1,
2017, it leased to Althaus Company a replicator that had cost
$102,900 to manufacture. The lease agreement covers the 5-year
useful life of the replicator and requires 5 equal annual rentals
of $44,300 payable each January 1, beginning January 1, 2017. An
interest rate of 11% is implicit in the lease agreement.
Collectibility of the rentals is reasonably assured, and there are
no important uncertainties concerning costs.
Prepare Martinez’s January 1, 2017, journal...
Oriole Corporation manufactures replicators. On January 1, 2017,
it leased to Althaus Company a replicator that had cost $106,500 to
manufacture. The lease agreement covers the 5-year useful life of
the replicator and requires 5 equal annual rentals of $44,100
payable each January 1, beginning January 1, 2017. An interest rate
of 11% is implicit in the lease agreement. Collectibility of the
rentals is reasonably assured, and there are no important
uncertainties concerning costs.
Prepare Oriole’s January 1, 2017, journal...
nment NEXT CALCULATOR PRINTER VERSION BACK Brief Exercise 21-11 Skysong Cerporation manufactures replicators. On January 1, 2017, it leased to Althaus Company a replicater that had cost $99,400 to manufacture. The lease agreement covers the 5-year useful life of the replicator and requires 5 equal annual rentals of $44,500 payable each January 1, beginning January 1, 2017. An interest rate of 11 % is implicit in the lease agreement. Collectibility of the rentals is reasonably assured, and there are no...
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