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Southwestern Edison Company leased equipment from Hi-Tech Leasing on January 1, 2018. Hi-Tech manufactured the equipment...
. Northwestern Edison Company leased equipment from Hi-Tech Leasing on January 1, 2020. Hi-Tech manufactured the...
. Northwestern Edison Company leased equipment from Hi-Tech Leasing on January 1, 2020. Hi-Tech manufactured the equipment at a cost of $110,000. Other information: Lease term 3 years Annual payments $50,000 on January 1 each year Life of asset 3 years Implicit interest rate 8% Incremental rate 8% PV, annuity due, 3 periods, 8% 2.7833 PV, ordinary annuity, 3 periods, 8% 2.5771 There is no expected residual value. Required: Prepare appropriate journal entries for Hi-Tech Leasing for 2020 and 2021....
Eastern Edison Company leased equipment from Low-Tech Leasing on January 1, 2018. Low-Tech recently purchased the...
Eastern Edison Company leased equipment from Low-Tech Leasing on January 1, 2018. Low-Tech recently purchased the equipment at a cost of $327,720. Other information: Lease term 5 years Annual payments $76,000 on January 1 each year Life of asset 5 years Fair value of asset $327,720 Implicit interest rate 8% Incremental rate 8% There is no expected residual value. Required: Prepare appropriate journal entries for Low-Tech Leasing for 2018. Assume a December 31 year-end. (If no entry is required for...
Eastern Edison Company leased equipment from Low-Tech Leasing on January 1, 2018. Low-Tech recently purchased the...
Eastern Edison Company leased equipment from Low-Tech Leasing on January 1, 2018. Low-Tech recently purchased the equipment at a cost of $311,208. other information: Lease term Annual payments Life of asset Fair value of asset 4 years $87,000 on January 1 each year 4 years $311,208 Implicit interest rate Incremental rate There is no expected residual value. Required: Prepare appropriate journal entries for Low-Tech Leasing for 2018. Assume a December 31 year-end. (If no for a transaction/event, select "No journal...
Eastern Edison Company leased equipment from Low-Tech Leasing on January 1, 2018. Low-Tech recently purchased the...
Eastern Edison Company leased equipment from Low-Tech Leasing on January 1, 2018. Low-Tech recently purchased the equipment at a cost of $213,369 Other information: Lease term Annual payments Life of asset Fair value of asset 3 years $78,000 on January 1 each year 3 years $213,369 10% 10% Implicit interest rate Incremental rate There is no expected residual value. Required: Prepare appropriate journal entries for Low-Tech Leasing for 2018. Assume a December 31 year-end. (If no entry is required for...
Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2018. Edison purchased the...
Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2018. Edison purchased the equipment from International Machines at a cost of $112.446. (IV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $11) (Use appropriate factor(s) from the tables provided.) Related Information: Lease term Quarterly rental payments Economic life of asset Fair value of asset Implicit interest rate (Also lessee's incremental borrowing rate) 2 years (8 quarterly periods) $15,300...
Edison Leasing leased high-tech electronic equipment to Manufacturers Southern on January 1, 2021. Edison purchased the...
Edison Leasing leased high-tech electronic equipment to Manufacturers Southern on January 1, 2021. Edison purchased the equipment from International Machines at a cost of $112.080. Related Information: Lease term Quarterly rental payments Economic life of asset Fair value of asset Implicit interest rate (Also lessee's incremental borrowing rate) 2 years glasrterly periods) $15,000 t e beginning of each period 2 years $112,080 8% from the beginning of the leae Required: Prepare a lease amortization schedule and appropriate entries for Edison...
Edison Leasing leased high-tech electronic equipment to Manufacturers Southern on January 1, 2021. Edison purchased the...
Edison Leasing leased high-tech electronic equipment to Manufacturers Southern on January 1, 2021. Edison purchased the equipment from International Machines at a cost of $113,515. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Related Information: Lease term 2 years (8 quarterly periods) Quarterly rental payments $15,700 at the beginning of each period Economic life of asset 2 years Fair value of asset...
Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2021. Edison purchased the...
Manufacturers Southern leased high-tech electronic equipment
from Edison Leasing on January 1, 2021. Edison purchased the
equipment from International Machines at a cost of $127,024. (FV of
$1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use
appropriate factor(s) from the tables provided.) Related
Information: Lease term 2 years (8 quarterly periods) Quarterly
rental payments $17,000 at the beginning of each period Economic
life of asset 2 years Fair value of asset...
Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2018. Edison purchased the...
Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2018. Edison purchased the equipment from International Machines at a cost of $112,446. (FV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $.1) (Use appropriate factor(s) from the tables provided.) Related Information: Lease term Quarterly rental payments Economic life of asset Fair value of asset Implicit interest rate (Also lessee's incremental borrowing rate) 2 years (8 quarterly periods) $15,...
TB Problem 15-195 (Static) 3 Northwestern Edison Company leased equipment from Hi-Tech Leasing on January 1,...
TB Problem 15-195 (Static) 3 Northwestern Edison Company leased equipment from Hi-Tech Leasing on January 1, 2021. Hi-Tech manufactured the equipment at a cost of $90,000 30 points Skipped Other information: Lease term Annual payments Lite of asset Implicit interest rate Incremental rate PV, annuity due, 3 periods, 88 PV of lease payments 3 years $40,000 on January 1 each year 3 years B% 2.7833 $111,332 eBook There is no expected residual value. G References Required: Prepare appropriate journal entries...
Eastern Edison Company leased equipment from Low-Tech Leasing on January 1, 2018. Low-Tech recently purchased the equipment at a cost of $311,208. other information: Lease term Annual payments Life of asset Fair value of asset 4 years $87,000 on January 1 each year 4 years $311,208 Implicit interest rate Incremental rate There is no expected residual value. Required: Prepare appropriate journal entries for Low-Tech Leasing for 2018. Assume a December 31 year-end. (If no for a transaction/event, select "No journal...
Eastern Edison Company leased equipment from Low-Tech Leasing on January 1, 2018. Low-Tech recently purchased the equipment at a cost of $213,369 Other information: Lease term Annual payments Life of asset Fair value of asset 3 years $78,000 on January 1 each year 3 years $213,369 10% 10% Implicit interest rate Incremental rate There is no expected residual value. Required: Prepare appropriate journal entries for Low-Tech Leasing for 2018. Assume a December 31 year-end. (If no entry is required for...
Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2018. Edison purchased the equipment from International Machines at a cost of $112.446. (IV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $11) (Use appropriate factor(s) from the tables provided.) Related Information: Lease term Quarterly rental payments Economic life of asset Fair value of asset Implicit interest rate (Also lessee's incremental borrowing rate) 2 years (8 quarterly periods) $15,300...
Edison Leasing leased high-tech electronic equipment to Manufacturers Southern on January 1, 2021. Edison purchased the equipment from International Machines at a cost of $112.080. Related Information: Lease term Quarterly rental payments Economic life of asset Fair value of asset Implicit interest rate (Also lessee's incremental borrowing rate) 2 years glasrterly periods) $15,000 t e beginning of each period 2 years $112,080 8% from the beginning of the leae Required: Prepare a lease amortization schedule and appropriate entries for Edison...
Manufacturers Southern leased high-tech electronic equipment
from Edison Leasing on January 1, 2021. Edison purchased the
equipment from International Machines at a cost of $127,024. (FV of
$1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use
appropriate factor(s) from the tables provided.) Related
Information: Lease term 2 years (8 quarterly periods) Quarterly
rental payments $17,000 at the beginning of each period Economic
life of asset 2 years Fair value of asset...
Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2018. Edison purchased the equipment from International Machines at a cost of $112,446. (FV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $.1) (Use appropriate factor(s) from the tables provided.) Related Information: Lease term Quarterly rental payments Economic life of asset Fair value of asset Implicit interest rate (Also lessee's incremental borrowing rate) 2 years (8 quarterly periods) $15,...
TB Problem 15-195 (Static) 3 Northwestern Edison Company leased equipment from Hi-Tech Leasing on January 1, 2021. Hi-Tech manufactured the equipment at a cost of $90,000 30 points Skipped Other information: Lease term Annual payments Lite of asset Implicit interest rate Incremental rate PV, annuity due, 3 periods, 88 PV of lease payments 3 years $40,000 on January 1 each year 3 years B% 2.7833 $111,332 eBook There is no expected residual value. G References Required: Prepare appropriate journal entries...
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