No need to explain, please I beg just solve everything, would be greatly appreciated (thumbs up)! :)
Homework Answers
| Journal Entries | |||
| Date | Account Title | Debit | Credit |
| 01-Jan | Right of use asset (lease asset) | $ 90,000 | |
| Lease payable | $ 90,000 | ||
| (To record lease liability) | |||
| 31-Dec | Amortization expense | $ 90,000 | |
| Right of use asset | $ 90,000 | ||
| (To record Amortization) | |||
Add Answer to:
No need to explain, please I beg just solve
everything, would be greatly appreciated (thumbs up)!...
No need to explain, please I beg just solve everything, would be greatly appreciated (thumbs up)!...
No need to explain, please I beg just solve
everything, would be greatly appreciated (thumbs up)!
:)
Required information Problem 10-7A Natural resources LO P3 The following information applies to the questions displayed below.] On July 23 of the current year, Dakota Mining Co. pays $7,228,320 for land estimated to contain 9,768,000 tons of recoverable ore. It installs and pays for machinery costing $488,400 on July 25. The company removes and sells 504,000 tons of ore during its first five...
Help On January 1, Falk Company signed a contract to lease space in a building for...
Help On January 1, Falk Company signed a contract to lease space in a building for three years. The current value of the three lease payments is $231,000. Required: Prepare entries for Falk to record () the lease asset and obligation at January 1, and December 31 of the first year. the $77,000 straight-line amortization at View transaction list Journal entry worksheet Record lease asset and obligation. Note: Enter debits before credits General Journal Debit Credit Date Jan 01 Record...
Chapter 8 Problems Saved Help Save & E Che 14 On January 1, Falk Company signed...
Chapter 8 Problems Saved Help Save & E Che 14 On January 1, Falk Company signed a contract to lease space in a building for three years. The current value of the three lease payments is $601,200. 1.86 points Required: Prepare entries for Falk to record (a) the lease asset and obligation at January 1, and (b) the $200,400 straight-line amortization at December 31 of the first year. eBook View transaction list Print References Journal entry worksheet < 1 2...
No need to explain, please I beg just solve everything, would be greatly appreciated (thumbs up)!...
No need to explain, please I beg just solve
everything, would be greatly appreciated (thumbs up)!
:)
Problem 10-4A Computing and revising depreciation; revenue and capital expenditures LO C1, C2, C3 Champion Contractors completed the following transactions involving equipment. Year 1 Jan. 1 Paid $290,000 cash plus $11,600 in sales tax and $1,600 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a four-year life and a $29,000 salvage value. Loader costs are recorded...
No need to explain, please I beg just solve everything, would be greatly appreciated (thumbs up)!...
No need to explain, please I beg just solve
everything, would be greatly appreciated (thumbs up)!
:)
Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The following balance sheet is from Derr's sole proprietorship. The market value of Derr's equipment is $5,300 and the market value of land is $8,300. Balance Sheet $ 4,800 Assets Cash Supplies Equipment Accumulated depreciation-Equip. Land Total assets Liabilities Accounts payable Notes payable Total liabilities Equity M. Derr,...
No need to explain, please I beg just solve everything, would be greatly appreciated (thumbs up)!...
No need to explain, please I beg just solve
everything, would be greatly appreciated (thumbs up)!
:)
Required information Problem 12-4A Partnership income allocation, statement of partners' equity, and closing entries LO P2 [The following information applies to the questions displayed below.] Mo, Lu, and Barb formed the MLB Partnership by making investments of $80,100, $311,500, and $498,400, respectively They predict annual partnership net income of $523,500 and are considering the following alternative plans of sharing income and loss: (a)...
On January 1, Harbor (lessee) signs a five-year lease for equipment that is accounted for as...
On January 1, Harbor (lessee) signs a five-year lease for
equipment that is accounted for as a finance lease. The lease
requires five $22,000 lease payments (the first at the beginning of
the lease and the remaining four at December 31 of years 1, 2, 3,
and 4), and the present value of the five annual lease payments is
$93,274, based on a 9% interest rate. 1. Prepare the January 1
journal entry Harbor records at inception of the lease...
**Please keep in mind the journal has 7 entries required** Federated Fabrications leased a tooling machine...
**Please keep in mind the journal has 7 entries required**
Federated Fabrications leased a tooling machine on January 1, 2018, for a three-year period ending December 31, 2020. The lease agreement specified annual payments of $33,000 beginning with the first payment at the beginning of the lease, and each December 31 through 2019. The company had the option to purchase the machine expected to be $57,000 a sufficient difference that exercise seems reasonably certain. The machine's estimated useful life was...
I need help with the whole question. I need explanation and solution Please and Thank you. Connect Homework - Ch...
I need help with the whole question. I need explanation and
solution Please and Thank you.
Connect Homework - Chapter 10 Saved Help Save & Exit Submit Exercise 10-21C Accounting for finance lease LO C3 On January 1, Harbor (lessee) signs a five-year lease for equipment that is accounted for as a finance lease. The lease requires five $36,000 lease payments (the first at the beginning of the lease and the remaining four at December 31 of years 1, 2,...
On January 1, 2021, Nath-Langstrom Services, Inc., a computer software training firm, leased several computers under...
On January 1, 2021, Nath-Langstrom Services, Inc., a computer
software training firm, leased several computers under a two-year
operating lease agreement from ComputerWorld Leasing, which
routinely finances equipment for other firms at an annual interest
rate of 4%. The contract calls for four rent payments of $10,000
each, payable semiannually on June 30 and December 31 each year.
The computers were acquired by ComputerWorld at a cost of $90,000
and were expected to have a useful life of five years...
No need to explain, please I beg just solve
everything, would be greatly appreciated (thumbs up)!
:)
Required information Problem 10-7A Natural resources LO P3 The following information applies to the questions displayed below.] On July 23 of the current year, Dakota Mining Co. pays $7,228,320 for land estimated to contain 9,768,000 tons of recoverable ore. It installs and pays for machinery costing $488,400 on July 25. The company removes and sells 504,000 tons of ore during its first five...
Help On January 1, Falk Company signed a contract to lease space in a building for three years. The current value of the three lease payments is $231,000. Required: Prepare entries for Falk to record () the lease asset and obligation at January 1, and December 31 of the first year. the $77,000 straight-line amortization at View transaction list Journal entry worksheet Record lease asset and obligation. Note: Enter debits before credits General Journal Debit Credit Date Jan 01 Record...
Chapter 8 Problems Saved Help Save & E Che 14 On January 1, Falk Company signed a contract to lease space in a building for three years. The current value of the three lease payments is $601,200. 1.86 points Required: Prepare entries for Falk to record (a) the lease asset and obligation at January 1, and (b) the $200,400 straight-line amortization at December 31 of the first year. eBook View transaction list Print References Journal entry worksheet < 1 2...
No need to explain, please I beg just solve
everything, would be greatly appreciated (thumbs up)!
:)
Problem 10-4A Computing and revising depreciation; revenue and capital expenditures LO C1, C2, C3 Champion Contractors completed the following transactions involving equipment. Year 1 Jan. 1 Paid $290,000 cash plus $11,600 in sales tax and $1,600 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a four-year life and a $29,000 salvage value. Loader costs are recorded...
No need to explain, please I beg just solve
everything, would be greatly appreciated (thumbs up)!
:)
Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The following balance sheet is from Derr's sole proprietorship. The market value of Derr's equipment is $5,300 and the market value of land is $8,300. Balance Sheet $ 4,800 Assets Cash Supplies Equipment Accumulated depreciation-Equip. Land Total assets Liabilities Accounts payable Notes payable Total liabilities Equity M. Derr,...
No need to explain, please I beg just solve
everything, would be greatly appreciated (thumbs up)!
:)
Required information Problem 12-4A Partnership income allocation, statement of partners' equity, and closing entries LO P2 [The following information applies to the questions displayed below.] Mo, Lu, and Barb formed the MLB Partnership by making investments of $80,100, $311,500, and $498,400, respectively They predict annual partnership net income of $523,500 and are considering the following alternative plans of sharing income and loss: (a)...
On January 1, Harbor (lessee) signs a five-year lease for
equipment that is accounted for as a finance lease. The lease
requires five $22,000 lease payments (the first at the beginning of
the lease and the remaining four at December 31 of years 1, 2, 3,
and 4), and the present value of the five annual lease payments is
$93,274, based on a 9% interest rate. 1. Prepare the January 1
journal entry Harbor records at inception of the lease...
**Please keep in mind the journal has 7 entries required**
Federated Fabrications leased a tooling machine on January 1, 2018, for a three-year period ending December 31, 2020. The lease agreement specified annual payments of $33,000 beginning with the first payment at the beginning of the lease, and each December 31 through 2019. The company had the option to purchase the machine expected to be $57,000 a sufficient difference that exercise seems reasonably certain. The machine's estimated useful life was...
I need help with the whole question. I need explanation and
solution Please and Thank you.
Connect Homework - Chapter 10 Saved Help Save & Exit Submit Exercise 10-21C Accounting for finance lease LO C3 On January 1, Harbor (lessee) signs a five-year lease for equipment that is accounted for as a finance lease. The lease requires five $36,000 lease payments (the first at the beginning of the lease and the remaining four at December 31 of years 1, 2,...
On January 1, 2021, Nath-Langstrom Services, Inc., a computer
software training firm, leased several computers under a two-year
operating lease agreement from ComputerWorld Leasing, which
routinely finances equipment for other firms at an annual interest
rate of 4%. The contract calls for four rent payments of $10,000
each, payable semiannually on June 30 and December 31 each year.
The computers were acquired by ComputerWorld at a cost of $90,000
and were expected to have a useful life of five years...
Most questions answered within 3 hours.
-
Starting with benzene, synthesize 1-phenyl-1-butyne.
Show intermediates and reagents.
asked 31 minutes ago -
Create a 32-run crossed array design with six control factors
and two noise factors such that...
asked 1 hour ago -
A 500g sample of sand from source A has the following amounts
retained on each sieve....
asked 1 hour ago -
In
your own words, please explain the essay by John Keynes wrote "The
End of Laissez...
asked 1 hour ago -
How are the matrix and pixels related? Why are smaller
pixels better for diagnostic quality?
asked 1 hour ago -
2. An AC generator has 80 rectangular loops on
its armature. Each loop is 11 cm...
asked 1 hour ago -
Please help me with this question. Consider Aldi’s current and
potential geographic markets (see Exhibit 4...
asked 1 hour ago -
What are the main components of the fermentation process and
give an explanation of each? Include...
asked 1 hour ago -
Explain which types of cells in the body (belonging to which
organs, etc.) are sensitive to...
asked 2 hours ago -
A single cable supports an 703-kg elevator car. What is the
tension in the cable when...
asked 2 hours ago -
among the three different ways to link CSS specifications to an
HTML document (inline CSS, document...
asked 2 hours ago -
(1) Write the net ionic equation for the reaction that occurs
when equal volumes of 0.191...
asked 2 hours ago