Reference no: EM131939017
Question - On January 1, 2019, Coleus Corporation entered into a ten-year lease agreement to be accounted for as a finance lease under ASC 842. The following summarizes the agreement:
• Payments of $30,000 are due at the beginning of each year; the first payment was made on January 1, 2019.
• The leased asset has an estimated useful life of 15 years.
• The implicit interest rate in the lease is known by Coleus to be 10%.
• Coleus's incremental borrowing rate is 12%.
• Coleus uses the straight-line depreciation method.
• The asset's estimated salvage value is $50,000 after 10 years and is $15,000 after 15 years.
Required:
1. Determine the interest expense associated with the lease for the year ended December 31, 2019.
2. Determine the amortization expense for the year ended December 31, 2019.
|
How does the observed sample correspond to these intervals
: Place a 95% central confidence interval on the mean ppm of all alfalfa samples that could be taken on the 150th day.
|
|
Need a cash budget for january and february
: Nunez Company expects to have a cash balance of $45,000 on January 1, 2016. Need a cash budget for January and February
|
|
Relationship between weight and length
: Twenty-six newborn baby boys are weighed and measured for length. The standard deviation of weight is 2 lb, but usual linear regression techniques
|
|
Probability that the red die will show
: Hence, the probability that the red die will show a 1/ 6 or the green die will show a 1 is 1/ 6 + 1/ 6.
|
|
Determine the amortization expense for the year ended
: The asset's estimated salvage value is $50,000 after 10 years and is $15,000 after 15 years. Determine the amortization expense for the year ended December 31
|
|
Common law and equity principles operating in australia
: TLAW 101 — BUSINESS LAW - discuss the legal effect of each of the forms of correspondence between Footloose, Famous Footwear and James's Shoes that took place
|
|
What proportion of the population is expected
: If the ratio of the incidence of the genes is f:F = 1:40 then what proportion of the population is expected to be (i) affected by the disease, and
|
|
Describe the environment and the people being observed
: describe the environment and the people being observed, i.e., age, gender, dress, etc. Discuss the nonverbal communication, i.e. eye contact, body position.
|
|
Explain the error-handling pathways
: Using Microsoft Visio or an open source alternative such as Dia, update the diagram to include two (2) error-handling pathways.
|