Find amount reported as lease payable on the balance sheet

Reference no: EM132674243

Problem 1: Anderson Consulting leased machinery from Red Inc. on July 1, 2018. The lease was recorded as a finance lease. The present value of the lease payments discounted at 9% was $445,000. Ten annual lease payments of $63,615 are due each July 1 beginning July 1, 2018. On December 31, 2018 the amount reported as Lease Payable on the Balance Sheet will be

Reference no: EM132674243

Questions Cloud

Determine the service cost component of pension expense : Assuming no change in actuarial assumptions and estimates, determine the service cost component of pension expense for the year ended December 31.

Describe the working model of business : Suppose a group of few students from your class wants to start small business of selling hand-made souvenirs (gifts).

Compute the non-current portion of the note payable : Compute the non-current portion of the note payable as of December 31, 20x7. Included in M Corporation's liability account balances at December

Find what amount reported as total payroll tax liability : Sonia Company reported gross payroll of $600,000 for the month of January. What amount should be reported as total payroll tax liability?

Find amount reported as lease payable on the balance sheet : Anderson Consulting leased machinery from Red Inc., On December 31, 2018 the amount reported as Lease Payable on the Balance Sheet will be?

What behaviors does the leader engage in : Choose a public figure you are familiar with (you know the individual, have read about the person in magazines and newspapers, or have seen him or her on TV).

Which account shows the overhead assigned to the department : In a process costing system, which account shows the overhead assigned to the department? In a process cost system, factory depreciation expense incurred debit

Describe the cloud computing issues for peers : Describe the cloud computing issues for your peers. What were the underlying reasons for the issues that were experienced?

How you are going to help the employee perform better : You hired Ibrahim recently. He finished his graduation from one of the reputed universities of the country. He also comes highly recommended by previous.

User Account

All Pages