User Account

All Pages

Discuss what will be the balance reported as a liability

Assignment Help Accounting Basics
Reference no: EM131803141

On January 1, 2016, Packard Corporation leased equipment to Hewlitt Company. The lease term is 9 years. The first payment of $458,000 was made on January 1, 2016. Remaining payments are made on December 31 each year, beginning with December 31, 2016. The equipment cost Packard Corporation $2,850,000. The present value of the minimum lease payments is $3,090,000. The lease is appropriately classified as a sales-type lease. Assuming the interest rate for this lease is 8%, what will be the balance reported as a liability by Hewlitt in the December 31, 2017, balance sheet? (Round final answer to the nearest dollar.)

Reference no: EM131803141

Questions Cloud

Review problem on the internal revenue service : Ms. Walker was a permanent clerk typist in the Internal Revenue Service's Atlanta office. Ms. Walker is a light-skinned black person.
Compute the cost assigned to ending inventory : Liberty uses a perpetual inventory system. Determine the cost assigned to ending inventory and to cost of goods sold using specific identification
Amount of income from loan : The repayments yield an effective interest rate of 11% at a present value of $200,000 and 12.4% at a present value of $194,000.
Presented on the balance sheet on december : At what amount should the discount on notes payable be presented on the balance sheet on December 31, 2011?
Discuss what will be the balance reported as a liability : what will be the balance reported as a liability by Hewlitt in the December 31, 2017, balance sheet
How does vera bradley stack up against its competitors : How does Vera Bradley stack up against its three major competitors?Which firm appears best poised for growth in the next 3-5 years?
Discuss employee ownership of the companys common shares : To encourage employee ownership of the company's common shares, KL Corp. permits any of its employees to buy shares directly from the company
Effective interest method of amortization : York uses the effective interest method of amortization. In its December 31, 2010 balance sheet, what amount should York report as investment in bonds?
Prepare a wbs with the steps that must be completed : Vern Toney managed the small IT group of a growing business. Vern's boss, the CFO, was on Vern's back to cute costs in the IT group.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd