Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Classico Kitchen Cutlery manufactures and leases kitchen appliances to bars and restaurants. Wendell's Hamburgers signed a lease for a walk-in freezer. The information pertaining to the capital lease is as follows: Classico and Wendell signed the lease on December 31, 2025Lease duration: 5 years beginning December 31, 2025Leased asset's estimated economic life: 6 yearsEstimated residual value: $15,000, not-guaranteed by lesseeLease payments: $60,000/year, beginning December 31, 2025Leased asset's cost to Classico to manufacture: $180,000Lease provisions: Lease does not contain a bargain renewal or a bargain purchase option.Implicit lease interest rate: 10% Present Value of $1 of 5 periods at 10% is .6209Present Value of $1 annuity of 5 periods at 10% is 3.7908.Present Value of $1 annuity due of 5 periods at 10% is 3.9763Present Value of $1 of 6 periods at 10% is .56447Present Value of $1 annuity of 6 periods at 10% is 4.32566Present Value of $1 annuity due of 6 periods at 10% is 4.79079 Classico has determined that the collectability of lease payments is reasonably predictable and there are no important uncertainties regarding costs yet to be incurred by the lessor. Problem 1: Record Classico's journal entries for 2025 - 2027 assuming this is a sales-type lease.
Problem 2: Record Wendell's journal entries for 2025 - 2027 assuming this is a financing lease.
Find out benefit of individual expense habitats and in general productivity of the worry. Settle Ltd. is having creation shops figured as cost focuses.
On December 31, 2021 the equipment's fair value is estimated to be $3,000. What is the impairment loss for 2021?
If payment of the loan was required at the beginning of each month, what would the monthly instalment be? Calculate the amount will be required to pay monthly.
Who are the main investors in private equity? Explain why they are interested in this investment. Contrast private equity and venture capital.
Just how common are dividend distributions? Are dividends concentrated in the companies traded on the New York stock exchange, or do closely held corporations pay dividends with the same frequency and at the same rates? Have dividends increased since..
Beginning accounts receivable were $11,000 and ending accounts receivable were $14,000. All sales were on credit and totaled $559,000. Determine how much cash was collected from customers.
Identify what type of cost is best represented. Raw materials used in the manufacturing process.Employee picnic with a band, food, and door prizes
Rice Co. exchanged merchandise that cost $24,000 and normally sold for $36,000 for a new delivery truck with a list price of $40,000. The delivery truck should be recorded on Rice's books
A car company is offering a choice of deals. You can receive $500 cash back on the purchase, or a 3 percent APR, 4-year loan. The price of the car is $15,000 and you could obtain a 4-year loan from your credit union, at 7 percent APR. Which deal is c..
Cheque payment of RM 650 charged by the bank. The cheque does not belong to company. This error would be corrected on the bank reconciliation by
Determine the probability for each stock that you would earn more than your required rate of return. Determine the probability for each stock that would earn
Calculate the new interest rate if a bank realizes that the value of a mortgage increases from $450,000 to $471,428.57, if the duration of the mortgage.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd