Novak Corporation manufactures drones. On December 31, 2019, it leased to Althaus Company a drone that...
Novak Corporation manufactures drones. On December 31, 2019, it
leased to Althaus Company a drone that had cost $138,000 to
manufacture. The lease agreement covers the 5-year useful life of
the drone and requires five equal annual rentals of $46,800 payable
each December 31, beginning December 31, 2019. An interest rate of
6% is implicit in the lease agreement. Collectibility of the
rentals is not probable.
Prepare any journal entry for Novak on December 31, 2019.
(Credit account titles are automatically indented when
the amount is entered. Do not indent
manually.)
|
Account Titles and Explanation |
Debit |
Credit |
Homework Answers
| Date | Account Tittle | Debit | Credit |
| 31-Dec | Lease
Receivable (46800*4.465) |
$208,962.00 | |
| Cost of Goods Sold | $138,000.00 | ||
| Sales Revenue | $208,962.00 | ||
| Inventory | $138,000.00 | ||
| 31-Dec | Cash | $46,800.00 | |
| Lease Receivable | $46,800.00 | ||
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Novak Corporation manufactures drones. On December 31, 2019, it leased to Althaus Company a drone that...
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Brief Exercise 21A-13
Monty Corporation manufactures drones. On December 31, 2016, it
leased to Althaus Company a drone that had cost $174,000 to
manufacture. The lease agreement covers the 5-year useful life of
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rentals is not probable.
Prepare any journal entry for Monty on December 31, 2016.
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Brief Exercise 21A-12
Sage Hill Corporation manufactures drones. On December 31, 2016,
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BE21-12. use the information for geiberger corporation from be21-12 , expect assume the collictibility of the...
BE21-12. use the information for geiberger corporation from be21-12
, expect assume the collictibility of the rentals is not probable.
prepare any journal entries for Geiberger on december
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need soluton for both of the probles in the picture.
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Martinez Corporation manufactures replicators. On January 1, 2017, it leased to Althaus Company a replicator that...
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useful life of the replicator and requires 5 equal annual rentals
of $44,300 payable each January 1, beginning January 1, 2017. An
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Prepare Martinez’s January 1, 2017, journal...
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Question 27 Skyson Corporation manufactures replicators. On January 1, 2017, it leased to this Company a...
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Brief Exercise 21A-13
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each December 31, beginning December 31, 2016. An interest rate of
9% is implicit in the lease agreement. Collectibility of the
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Marin Corporation manufactures drones. On December 31, 2016, it leased to Althaus Company a drone that had cost $118,900 to manufacture. The lease agreement covers the 5-year useful life of the drone and requires 5 equal annual rentals of $41,800 payable each December 31, beginning December 31, 2016. An interest rate of 10% is implicit in the lease agreement. Collectibility of the rentals is probable. Prepare Marin's December 31, 2016, journal entries. (Credit account titles are automatically indented when amount...
Brief Exercise 21A-12
Sage Hill Corporation manufactures drones. On December 31, 2016,
it leased to Althaus Company a drone that had cost $105,300 to
manufacture. The lease agreement covers the 5-year useful life of
the drone and requires 5 equal annual rentals of $43,200 payable
each December 31, beginning December 31, 2016. An interest rate of
11% is implicit in the lease agreement. Collectibility of the
rentals is probable.
Prepare Sage Hill’s December 31, 2016, journal entries.
(Credit account titles...
Skysong Corporation manufactures replicators. On January 1, 2017, it leased to Althaus Company a replicator that had cost $115,000 to manufacture. The lease agreement covers the 5-year useful life of the replicator and requires 5 equal annual rentals of $41,200 payable each January 1, beginning January 1, 2017. An interest rate of 10% is implicit in the lease agreement. Collectibility of the rentals is reasonably assured, and there are no important uncertainties concerning costs. Prepare Skysong's January 1, 2017, journal...
BE21-12. use the information for geiberger corporation from be21-12
, expect assume the collictibility of the rentals is not probable.
prepare any journal entries for Geiberger on december
31,2016.
i
need soluton for both of the probles in the picture.
(BE21.11L03) Geiberger AG manufactures drones. On Decem- ber 31, 2018, it leased to Althaus SA a drone that had cost €120,000 to manufacture. The lease agreement covers the 5-year useful life of the drone and requires five equal annual rentals...
Martinez Corporation manufactures replicators. On January 1,
2017, it leased to Althaus Company a replicator that had cost
$102,900 to manufacture. The lease agreement covers the 5-year
useful life of the replicator and requires 5 equal annual rentals
of $44,300 payable each January 1, beginning January 1, 2017. An
interest rate of 11% is implicit in the lease agreement.
Collectibility of the rentals is reasonably assured, and there are
no important uncertainties concerning costs.
Prepare Martinez’s January 1, 2017, journal...
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it leased to Althaus Company a replicator that had cost $106,500 to
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payable each January 1, beginning January 1, 2017. An interest rate
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rentals is reasonably assured, and there are no important
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Prepare Oriole’s January 1, 2017, journal...
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