User Account

All Pages

What amount will cheyenne record as the value

Assignment Help Financial Accounting
Reference no: EM132543697

Point 1: Cheyenne Corporation entered into an operating lease agreement to lease equipment from Badger, Inc, on January 1, 2020. The lease calls for annual lease payments of $36,000, beginning on January 1, for each of the 3 years ofthe lease. In addition, Badger will pay Cheyenne $6,000 as a cash incentive for entering the lease by January 1,2020. In relation to the lease agreement, Cheyenne incurred the following costs.

Point 2: Salaries of employees involved in the investigation of the lease $2,000 Lease document preparation costs incurred after execution of the lease 500 Cheyenne's incremental borrowing rate is 7%.

Question 1: If the value of the lease liability is $101,089, what amount will Cheyenne record as the value of the right-of-use asset on January 1, 2020, at commencement of the operating lease?

Reference no: EM132543697

Questions Cloud

Explain new technology that business should deploy : Explain a new technology that the business should deploy. Be specific, don't only note the type of technology but the specific instance of technology
How much will he have to save each month to reach his goal : If he saves money every month, starting one month from now, how much will he have to save each month to reach his goal?
Determine loss on impairment that teal bank should recognize : On December 31, 2020, Sandhill Company signed a $1,152,800, the loss on impairment that Teal Bank should recognize on December 31, 2022.
What should a cultural competence training program include : What should a cultural competence training program include? 125 words response with reference and in text citation. Describe why you think you are prepared.
What amount will cheyenne record as the value : What amount will Cheyenne record as the value of the right-of-use asset on January 1, 2020, at commencement of the operating lease?
Triangular arbitrage and rectangular arbitrage. : Create two numerical foreign exchange computational problems by using the CURRENT (2019-2020) real word data.
What is the current ratio : Peter's Motor Works has total assets of RM689,400, long-term debt of RM299,500, total equity of RM275,000, net fixed assets of RM497,800
Why you would make the recommended improvements : Explain how you might improve the patient's drug therapy plan and explain why you would make these recommended improvements. Patient AO has history of obesity.
Common-size percentage for the dividends paid : The profit margin is 3.4 percent and the retention ratio is 60 percent. What is the common-size percentage for the dividends paid?

Reviews

Write a Review

Financial Accounting Questions & Answers

  How much will be left over the reserve account

After the last prize distribution has been made (at the beginning of year 21), how much will be left over the reserve account?

  Used by stakeholders and potential stakeholders

Kobyashi Moru Pet Food, USA Limited, does not disclose segment information for its various divisions and profit centers because Chinese accounting standards do not require it. Prepare a report that indicates the affect of the above cited differences ..

  Alpha-beta and gamma all have state taxes based on income

You are the 100% owner of X Corporation, which is incorporated in the state of Alpha and has its principal place of business there. Your company has 5 employees, including you, and does computer consulting services for small businesses.  If any follo..

  Prepare mcknights bank reconciliation

Prepare McKnights bank reconciliation as of June 30 and prepare any necessary journal entries resulting from the reconciliation. What is the actual cash balanc

  Two-state option pricing model

Ken is able to borrow and lend at the risk-free EAR of 2.5 percent. How much does the synthetic call option cost?

  The controller of a company that sells inventory

Suppose you are the controller of a company that sells inventory. Also, suppose the economy currently enters a period of high inflation. Although profits are higher this year than last year, you realize that the cost to replace inventory is also high..

  Prepare the consolidated financial statements

Prepare the consolidated financial statements for 20X3 using the direct method - acquired all  the outstanding common shares of Blue Loft Ltd. for $1,409,200 cash.

  Why do we need different tools for analyzing financial

Why do we need different tools for analyzing financial statements? Don't the numbers in the financial statements speak for themselves?

  Calculate the amount of realized gross profit

State where the balance of Deferred Gross Profit would be reported on the financial statements for 2011. Calculate the amount of realized gross profit to be recognized on the income statement, prepared using the cost-recovery method.

  Tress company produces shampoo

Nutri-Tress Company produces shampoo in individual-use bottle for hotels. Each bottle sells for $0.36. The variable costs for each bottle (materials, labor, and overhead) total $0.27.

  Prepare adjustments on march 31

Prepare adjustments on March 31 prior to financial statement preparation - Success Systems

  Prepare a record the correct letter increase to bank balance

Prepare a record the correct letter increase to bank balance, decrease to bank balance,increase to company cash balance, decrease to company cash balance

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