Answer | Current Liability | $8,312.85 | |||
Non-current Liability | $2,25,430.15 | ||||
Notes | |||||
Annual Lease Payment | $20,000.00 | ||||
Annuity Factor @5% for 20 Years | 12.46 | ||||
Lease Liability to be recognised | $2,49,200.00 | ||||
Date | Opening Balance (A) | Interest Accrued @ 5% (A*5%) | EMI (Given) |
Principal Repayment (EMI-Interest) (B) |
Balance Outstanding (A-B) |
31-12-2019 | $2,49,200.00 | $12,460.00 | $20,000.00 | $7,540.00 | $2,41,660.00 |
31-12-2020 | $2,41,660.00 | $12,083.00 | $20,000.00 | $7,917.00 | $2,33,743.00 |
I'm not sure with my answer On January 1, 2019, ABC Company leased office equipment from...
I'm not sure with my answer
On January 1, 2019, ABC Company leased office equipment from Z, Inc. The lease terms require annual payments of $20,000 for 20 years with the first payment being due on December 31, 2019. The interest rate on the lease is 5%, and ABC will use the double - declining balance method to record the amortization of the leased asset. Assume the equipment had a 25 year remaining useful life at January 1, 2019 and...
I'm not sure with my answer
On January 1, 2019. ADC Company leased on equipment from 72, Inca The lease terms require annual payments or $20,000 for 20 years with the first payment being due on December 31, 2019. The interest rate on the lease is 5%, and ABC will use the double-declining balance method to record the amortization of the leased asset. Assume the equipment had a 25 year remaining useful life at January 1, 2019 and the lease...
On January 1, 2019, ABC Company leased office equipment from ZZ, Inc. The lease terms require annual payments of $20,000 for 20 years with the first payment being due on December 31, 2019. The interest rate on the lease is 5%, and ABC will use the double-declining balance method to record the amortization of the leased asset. Assume the equipment had a 25 year remaining useful life at January 1, 2019 and the lease contract requires the equipment to be...
On January 1, 2019, ABC Company leased office equipment from ZZ, Inc. The lease terms require annual payments of $20,000 for 20 years with the first payment being due on December 31, 2019. The interest rate on the lease is 5%, and ABC will use the double-declining balance method to record the amortization of the leased asset. Assume the equipment had a 25 year remaining useful life at January 1, 2019 and the lease contract requires the equipment to be...
On January 1, 2019, ABC Company leased office equipment from ZZ, Inc. The lease terms require annual payments of $20,000 for 20 years with the first payment being due on December 31, 2019. The interest rate on the lease is 5%, and ABC will use the double-declining balance method to record the amortization of the leased asset. Assume the equipment had a 25 year remaining useful life at January 1, 2019 and the lease contract requires the equipment to be...
On January 1, 2019, ABC Company leased office equipment from ZZ, Inc. The lease terms require annual payments of $20,000 for 20 years with the first payment being due on December 31, 2019. The interest rate on the lease is 5%, and ABC will use the double-declining balance method to record the amortization of the leased asset. Assume the equipment had a 25 year remaining useful life at January 1, 2019 and the lease contract requires the equipment to be...
On January 1, 2019, ABC Company leased office equipment from ZZ, Inc. The lease terms require annual payments of $20,000 for 20 years with the first payment being due on December 31, 2019. The interest rate on the lease is 5%, and ABC will use the double-declining balance method to record the amortization of the leased asset. Assume the equipment had a 25 year remaining useful life at January 1, 2019 and the lease contract requires the equipment to be...
On January 1, 2019, ABC Company leased office equipment from ZZ, Inc. The lease terms require annual payments of $20,000 for 20 years with the first payment being due on December 31, 2019. The interest rate on the lease is 5%, and ABC will use the double-declining balance method to record the amortization of the leased asset. Assume the equipment had a 25 year remaining useful life at January 1, 2019 and the lease contract requires the equipment to be...
I'm not sure with my answer
Betty DeRose wants to have $138,873 in five years. Betty intends to accumulate that amount by making equal quarterly cash deposits at the beginning of every three months for five years into a bank account that pays 20% interest compounded quarterly. Calculate the amount of each quarterly deposit. You will need to use the time value of money table factors posted in carmen to answer this question. To access these factors, click modules and...
On January 1, 2020, ABC Company leased equipment from ZZ Leasing, Inc.
The terms of the lease require annual payments of $7,500 for ten years
with the first payment due December 31, 2020. The interest rate on the
lease is 3%. Assume that the lease qualifies as a capital lease. ABC
Company uses the double-declining balance method to depreciate its
assets.
Calculate the book value of the leased asset at December 31, 2021.
Use the time value of money factors...