i need those two answers in red, i dont lnow how to get itHomework Answers
|
Date |
Account titles and explanation |
Debit |
Credit |
|
12/31/17 |
Lease expense |
18000 |
|
|
Lease liability (50099-18000)*8% |
2568 |
||
|
Right – of – use asset (balancing figure) |
15432 |
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i need those two answers in red, i dont lnow how to get it
LeBron James...
LeBron James (LBJ) Corporation agrees on January 1, 2017, to lease equipment from Cavaliers, Inc. for...
LeBron James (LBJ) Corporation agrees on January 1, 2017, to lease equipment from Cavaliers, Inc. for 3 years. The lease calls for annual lease payments of $17,000 at the beginning of each year. The lease does not transfer ownership, nor does it contain a bargain purchase option, and is not a specialized asset. In addition, the useful life of the equipment is 10 years, and the present value of the lease payments is less than 90% of the fair value...
LeBron James (LBJ) Corporation agrees on January 1, 2020, to lease equipment from Cavaliers, Inc. for...
LeBron James (LBJ) Corporation agrees on January 1, 2020, to lease equipment from Cavaliers, Inc. for 3 years. The lease calls for annual lease payments of $23,000 at the beginning of each year. The lease does not transfer ownership, nor does it contain a bargain purchase option, and is not a specialized asset. In addition, the useful life of the equipment is 10 years, and the present value of the lease payments is less than 90% of the fair value...
LeBron James (LBJ) Corporation agrees on January 1, 2020, to lease equipment from Sunland, Inc. for...
LeBron James (LBJ) Corporation agrees on January 1, 2020, to lease equipment from Sunland, Inc. for 3 years. The lease calls for annual lease payments of $15,000 at the beginning of each year. The lease does not transfer ownership, nor does it contain a bargain purchase option, and is not a specialized asset. In addition, the useful life of the equipment is 10 years, and the present value of the lease payments is less than 90% of the fair value...
LeBron James (LBJ) Corporation agrees on January 1, 2020, to lease equipment from Blossom, Inc. for...
LeBron James (LBJ) Corporation agrees on January 1, 2020, to lease equipment from Blossom, Inc. for 3 years. The lease calls for annual lease payments of $15,000 at the beginning of each year. The lease does not transfer ownership, nor does it contain a bargain purchase option, and is not a specialized asset. In addition, the useful life of the equipment is 10 years, and the present value of the lease payments is less than 90% of the fair value...
LeBron James (LBJ) Corporation agrees on January 1, 2020, to lease equipment from Cavaliers, Inc. for...
LeBron James (LBJ) Corporation agrees on January 1, 2020, to
lease equipment from Cavaliers, Inc. for 3 years. The lease calls
for annual lease payments of $23,000 at the beginning of each year.
The lease does not transfer ownership, nor does it contain a
bargain purchase option, and is not a specialized asset. In
addition, the useful life of the equipment is 10 years, and the
present value of the lease payments is less than 90% of the fair
value...
Question 2 Your answer is partially correct. Try again. LeBron James (LBJ) Corporation agrees on January...
Question 2 Your answer is partially correct. Try again. LeBron James (LBJ) Corporation agrees on January 1, 2020, to lease equipment from Cavaliers, Inc. for 3 years. The lease calls for annual lease payments of $23,000 at the beginning of each year. The lease does not transfer ownership, nor does it contain a bargain purchase option, and is not a specialized asset. In addition, the useful life of the equipment is 10 years, and the present value of the lease...
Brief Exercise 21A-15 CALCULATOR PULL SCREEN PRINTER VERSION BACK NEXT Your answer is partially correct. Try...
Brief Exercise 21A-15 CALCULATOR PULL SCREEN PRINTER VERSION BACK NEXT Your answer is partially correct. Try again. LeBron James (8) Corporation agrees on January 1, 2017, to lease equipment from Cavaliers, Inc. for 3 years. The lease calls for annual lease payments of $22,000 at the beginning of each year, The lease does not transfer ownership, nor does it contain a bargain purchase option, and is not a specialized asset. In addition, the useful life of the equipment is 10...
Please note if you get 82,000.27 as the lease receivable at commencement and for the amortization...
Please note if you get 82,000.27 as the lease receivable at
commencement and for the amortization schedule it's incorrect.
The following facts pertain to a non-cancelable lease agreement between Tamarisk Leasing Company and Carla Vista Company, a lessee. May 1, 2020 Commencement date Annual lease payment due at the beginning of each year, beginning with May 1, 2020 Bargain purchase option price at end of lease term Lease term Economic life of leased equipment Lessor's cost Fair value of asset...
CALCULATOR Exercise 21-4 Vaughn Leasing Company signs a lease agreement on January 1, 2017, to lease...
CALCULATOR Exercise 21-4 Vaughn Leasing Company signs a lease agreement on January 1, 2017, to lease electronic equipment to Bramble Company. The term of the noncancelable case is 2 years, and payments are required at the end of each year. The following information relates to this agreement: 1. Bramble Company has the option to purchase the equipment for $17300 upon termination of the lease 2. The equipment has a cost and fair value of $170,000 to Vaughn Leasing Company. The...
Can you please help me with the journal entries for this? I already have part A...
Can you please help me with the journal entries for this? I already have part A and B completed. The following facts pertain to a noncancelable lease agreement between Monty Leasing Company and Flounder Company, a lessee. Inception date: May 1, 2017 Annual lease payment due at the beginning of each year, beginning with May 1, 2017 $19,803.59 Bargain-purchase option price at end of lease term $3,900 Lease term 5 years Economic life of leased equipment 10 years Lessor’s cost...
LeBron James (LBJ) Corporation agrees on January 1, 2017, to lease equipment from Cavaliers, Inc. for 3 years. The lease calls for annual lease payments of $17,000 at the beginning of each year. The lease does not transfer ownership, nor does it contain a bargain purchase option, and is not a specialized asset. In addition, the useful life of the equipment is 10 years, and the present value of the lease payments is less than 90% of the fair value...
LeBron James (LBJ) Corporation agrees on January 1, 2020, to lease equipment from Sunland, Inc. for 3 years. The lease calls for annual lease payments of $15,000 at the beginning of each year. The lease does not transfer ownership, nor does it contain a bargain purchase option, and is not a specialized asset. In addition, the useful life of the equipment is 10 years, and the present value of the lease payments is less than 90% of the fair value...
LeBron James (LBJ) Corporation agrees on January 1, 2020, to
lease equipment from Cavaliers, Inc. for 3 years. The lease calls
for annual lease payments of $23,000 at the beginning of each year.
The lease does not transfer ownership, nor does it contain a
bargain purchase option, and is not a specialized asset. In
addition, the useful life of the equipment is 10 years, and the
present value of the lease payments is less than 90% of the fair
value...
Question 2 Your answer is partially correct. Try again. LeBron James (LBJ) Corporation agrees on January 1, 2020, to lease equipment from Cavaliers, Inc. for 3 years. The lease calls for annual lease payments of $23,000 at the beginning of each year. The lease does not transfer ownership, nor does it contain a bargain purchase option, and is not a specialized asset. In addition, the useful life of the equipment is 10 years, and the present value of the lease...
Brief Exercise 21A-15 CALCULATOR PULL SCREEN PRINTER VERSION BACK NEXT Your answer is partially correct. Try again. LeBron James (8) Corporation agrees on January 1, 2017, to lease equipment from Cavaliers, Inc. for 3 years. The lease calls for annual lease payments of $22,000 at the beginning of each year, The lease does not transfer ownership, nor does it contain a bargain purchase option, and is not a specialized asset. In addition, the useful life of the equipment is 10...
Please note if you get 82,000.27 as the lease receivable at
commencement and for the amortization schedule it's incorrect.
The following facts pertain to a non-cancelable lease agreement between Tamarisk Leasing Company and Carla Vista Company, a lessee. May 1, 2020 Commencement date Annual lease payment due at the beginning of each year, beginning with May 1, 2020 Bargain purchase option price at end of lease term Lease term Economic life of leased equipment Lessor's cost Fair value of asset...
CALCULATOR Exercise 21-4 Vaughn Leasing Company signs a lease agreement on January 1, 2017, to lease electronic equipment to Bramble Company. The term of the noncancelable case is 2 years, and payments are required at the end of each year. The following information relates to this agreement: 1. Bramble Company has the option to purchase the equipment for $17300 upon termination of the lease 2. The equipment has a cost and fair value of $170,000 to Vaughn Leasing Company. The...
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