Homework Answers
Solution:- As per opinion, there is no need to made any journal entry. This expenses would not be recognized.
It also appears to be an Operating lease, so there is no need to be expended.
Disclosure in notes may be needed.
Answer:- Make no journal entry
Thank you..
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lease a storage building from Sheffield Storage Company. The
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1.
The agreement requires equal rental payments of $67,299
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The fair value of the building on December 31, 2019 is
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2.
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