Homework Answers
| Under Operating lease, earnings reduce by the amount of lease payments made each year. |
| Lease payments made in Year 1 = 45000*4 = $180000 |
| LTT reduces its earnings by 180000 |
> it is correct! I just tried it
alana Mogavero Tue, Feb 8, 2022 6:29 PM
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At the beginning of its fiscal year, Lakeside Inc. leased office space to LTT Corporation under...
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At the beginning of its fiscal year, Lakeside Inc. leased office space to LTT Corporation under a ten-year operating lease agreement. The contract calls for quarterly rent payments of $43,000 each. The office building was acquired by Lakeside at a cost of $3.8 million and was expected to have a useful life of 25 years with no residual value. What will be the effect of the lease on LTT's earnings for the first year (ignore taxes)? (Enter your answer in...
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Brief Exercise 15-9 (Algo) Operating lease (LO15-4] At the beginning of its fiscal year, Lakeside Inc. leased office space to LTT Corporation under a twelve-year operating lease agreement. The contract calls for quarterly rent payments of $42,000 each. The office building was acquired by Lakeside at a cost of $3.7 million and was expected to have a useful life of 25 years with no residual value. What will be the effect of the lease on Lakeside's earnings for the first...
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have a useful life of 12 years with no salvage value at the end of
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> The answer has more down votes than up votes, but the formula is correct. I used it on my assignment and I got the answer right.!
Kimberly Vu Mon, Nov 8, 2021 11:18 PM