User Account

All Pages

What amount should n report as recorded lease liability

Assignment Help Accounting Basics
Reference no: EM133123436

Question - N Corp. entered into a nine-year finance lease on a warehouse on December 31, 2021. Lease payments of $29,000, which includes maintenance services of $1,500, are due annually, beginning on December 31, 2022, and every December 31 thereafter. N Corp. does not know the Interest rate Implicit In the lease; N's Incremental borrowing rate is 11%. The rounded present value of an ordinary annuity for nine years at 11% is 5.5370. What amount should N report as recorded lease liability at December 31, 2021?

Reference no: EM133123436

Questions Cloud

What is the rate of return on this investment : Suppose I offer you an investment that requires 25,000 today and pays back 18,500 in a year's time. What is the (IRR) rate of return on this investment
What is the amount of your periodic payment : You are planning to buy a house in Toronto that has a price of $1,500,000. What is the amount of your periodic payment
Determine the net present value of the drug cash flows : You are the CFO of a drug company, and you must decide whether to invest 70M dollars in R&D for a new drug. Determine the net present value of the drug
Prepare the income statement : Prepare the income statement assuming that management views the disposal of the swimming pool business as a strategic shift
What amount should n report as recorded lease liability : The rounded present value of an ordinary annuity for nine years at 11% is 5.5370. What amount should N report as recorded lease liability at December 31, 2021
Discuss the trans-generational nature of trauma : Discuss the trans-generational nature of trauma and outline a trauma informed service delivery to a community in crisis of multiple symptom factors
Discuss the business practices of the rent-to-own industry : Discuss the business practices of the rent-to-own industry. How are they able to avoid the restrictions on interest rates
Prepare journal entries to record each of the transactions : On September 15, a truck was donated to the corporation. Similar trucks were selling for $2,700. Prepare journal entries to record each of the transactions
Prepare the journal entries for the transactions : Prepare the journal entries for the above transactions - Jan 31 Salaries for employees accrued by $4,480 by the end of the month

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