User Account

All Pages

Make a ten-year lease amortization schedule

Assignment Help Financial Accounting
Reference no: EM132513804

Blue Moon Company manufactures a reservation system with an estimated economic life of 12 years and leases it to Starship Airlines for a period of 10 years. The normal selling price of the equipment is $278,072 and its unguaranteed residual value at the end of the lease term is estimated to be $20,000. Starship will pay annual payments of $40,000 at the beginning of each year and all maintenance, insurance, and taxes. Blue Moon incurred costs of $180,000 in manufacturing the equipment and $4,000 in negotiating and closing the lease. Blue Moon has determined that the implicit interest rate is 10%

Question A. Calculate the amount of each of the following items 1. Lease Receivable 1. Sales Price ili. Cost of Sales

Question B. Make a 10-year lease amortization schedule (lessor book)

Reference no: EM132513804

Questions Cloud

EDP386 Dissertation Assignment : EDP386 Dissertation Assignment Help and Solution, The University of Sunderland - Assessment Writing Service - Developmental report to parents/carers recognising
What amount of net income under cash bases of accounting : Guardian would report what amount of net income under the cash and accrual bases of accounting, respectively? Guardian Corp. sells $6,250
Why is the coefficient of variation important : Why is the coefficient of variation important? What do we mean when we say the coefficient of variation has no units?
Identify one particular bias that exists in epidemiological : Identify one particular bias that exists in epidemiological research and discuss how it may affect research studies. How does this affect literature and what is
Make a ten-year lease amortization schedule : Calculate the amount of each of the following items 1. Lease Receivable 1. Sales Price ili. Cost of Sales. Make a 10-year lease amortization schedule
Create the adjusted trial balance as of december : Create the adjusted trial balance as of December 31, 2021. June 3 Provide additional services on account for $19,000. All services on account
Triangle of healthcare : Discuss this triangle and the relationship of the three aspects. Be sure to discuss how each one dramatically influences the others
Data governance techniques like data cleansing : Organizations are struggling to reduce and right-size their information foot-print, using data governance techniques like data cleansing and de-duplication.
Explain why a quality improvement initiative is needed : Identify a quality improvement opportunity in your organization or practice (Long term/rehabilitation center). In a 1,250-1,500 word paper, describe the problem

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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