User Account

All Pages

What amount of interest revenue from the lease

Assignment Help Accounting Basics
Reference no: EM132941316

Problem - Blossom Co. leased equipment to Union Co. on July 1, 2021, and properly recorded the sales-type lease at $141000, the present value of the lease payments discounted at 8%. The first of eight annual lease payments of $21500 due at the beginning of each year of the lease term was received and recorded on July 3, 2021. Blossom had purchased the equipment for $1 10000. What amount of interest revenue from the lease should Blossom report in its 2021 income statement?

Reference no: EM132941316

Questions Cloud

Describe mechanistic and organic model of organisation : 1) Discuss 4 differences and 4 similarities between mechanistic and organic model of organisation and how are they superior to one another.
Explain trait and behavior approaches to leadership : A) In what ways are the trait and behavior approaches to leadership similar?
Perform the five steps revenue from contracts : The contract price is $40 million for both the building and the garage, Perform the five steps Revenue from Contracts with Customers
What is the impairment allocated to land : Land had a value in use of 5940,000 and the related value in exchange was 5935,000. What is the impairment allocated to land
What amount of interest revenue from the lease : Blossom had purchased the equipment for $1 10000. What amount of interest revenue from the lease should Blossom report in its 2021 income statement
Design an opening presentation for the training session : Read the case study, "Southwood School: A Case Study in Training and Development," from the Student Workbook . Review the appraisee's training session and the m
Elements of the marketing mix : 1. Examine the factors, which determine how businesses price their products.
What is the premium balance for the shares : A company's balance sheet shows a balance of SGD 15 million in common stock, What is the premium balance for the shares
What is the revenue per labor cost : A company brings in $10 million in annual revenue and employs an average of 100 full-time employees with a total labor cost of $5 million.

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