User Account

All Pages

The equipment is delivered when the lease is signed

Assignment Help Accounting Basics
Reference no: EM13871043

The Police Department of Ramser Falls signed a noncancellable lease for computer equipment on January 1, 2012. The lease was for 5 years, the economic life of the property. The fair market value of the equipment (and present value of the minimum rentals) is $ 21,198, and the city incremental borrowing rate is 9 percent. The annual lease payments are $ 5,000 and are due on the first day of the year beginning on January 1, 2012. Assuming the equipment is delivered when the lease is signed, prepare all journal entries necessary to record the lease transaction for 2012 and the payment made in 2013.

Reference no: EM13871043

Questions Cloud

Under the sign he sees red and green : Joe is leaving a courthouse, and he walks across the street to a PUBLIC park, one "New York City block" (200ft.) away.  There he sees a sign that says SEASONS GREETINGS.  Under the sign he sees red and green (traditional Christmas colors).  He also s..
Five year bonds with a face value : On April 30 of Year 1, the Aggie Corporation purchased available for sale securities.
Latina woman who dreams of becoming a firefighter : Sara is a 25 year old Latina woman who dreams of becoming a firefighter.  Sara goes to take a firefighter exam.  For part 1 of the exam Sara must know all the fire codes of state Z.  For part 2 of the exam Sara must be able to lift 150 pounds (approx..
Why is less emphasis on the scale of the investment effort : Why is there less emphasis on the scale of the investment effort in export-oriented industrialisation than in import-substituting industrialisation strategies?
The equipment is delivered when the lease is signed : Assuming the equipment is delivered when the lease is signed prepare all journal entries necessary to record the lease transaction for 2012 and the payment made in 2013.
What are the causes of incivility in nursing education? : How do nursing students and nurse faculty members contribute to incivility in nursing education- What are some of the causes of incivility in nursing education-What remedies might be effective in preventing or reducing incivility?
Is import substitution a necessary in industrialisation : To what extent have industrialisation strategies in developing countries been successful in the post-war period? Is import substitution a necessary phase in industrialisation before a country can engage in exports?
Human resource systems in medical field : INDIA should have better access to Human Resource Systems in medical field because HR provides better safety condition, gives quick recovery for companies cost and with maximum employee satisfaction
What was the brief history of companies : What was the brief history of companies and what kind of Unethical activities these companies were doing - how much money was involved in fraud?

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