What is the amortization expense b will take for the year

Assignment Help Accounting Basics
Reference no: EM132683256

Derozan Corp. manufactured equipment at a cost of $167,770 and leased it to B Corp. on January 1, 2019 for an eight-year period expiring December 31, 2026. The asset's economic life is 10 years. Equal payments under the lease are $46,930 and are due on January 1 of each year. The first payment was made on January 1, 2019. The implicit rate used by Derozan is 8%.

Additional information:

Present value of an annuity due of $1 for 8 periods at 8% 6.21
Present value of an annuity due of $1 for 16 periods at 4% 12.12

Question 1: What is the amortization expense B will take for the year ended December 31, 2019?

Reference no: EM132683256

Questions Cloud

Describe the health care setting : Describe the health care setting and summarize the various individuals or teams typically working together in that setting. Discuss what types of issues may.
Find what is the amortization expense b will take for year : Find what is the amortization expense B will take for the year ended December 31, 2019? Derozan Corp. manufactured equipment at a cost of $167,770
How were accuracy and completeness of data assured : What type of qualitative research design was utilized to conduct the study? How were accuracy and completeness of data assured?
World reserve currency : The U.S. dollar remains the world's reserve currency. Is this good for the United States, and if so, why?
What is the amortization expense b will take for the year : Derozan Corp. manufactured equipment at a cost of $167,770. What is the amortization expense B will take for the year ended December 31, 2019?
Discuss the topic ego integrity with example : Based on what you have learned so far in this course, create a PowerPoint presentation that addresses each of the following points/questions.
Inventory management : With effective resource planning, organizations can reduce inventory and service costs, improve efficiencies, and establish methods for continuous improvement
Journalize the entries required on July : U-Store Corporation has 250,000 shares of $15 par common stock outstanding. Journalize the entries required on July 20, August 19, and September 18
Analyze the different approaches to innovation : Analyze the different approaches to innovation to determine which approach you think would be the greatest value to the greatest number of organizations.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the proper classification

In the case of borderline items, indicate the additional information that would be required to determine the proper classification.

  Compute the earnings per share of common stock

Quayle Corporation reports net income of $380,000 and a weighted average of 200,000 shares of common stock outstanding for the year. Compute the earnings per share of common stock.

  Calculate the amount paid for goodwill

Johnson Corporation acquired all of the outstanding common stock of Smith Corporation for $11,000,000 in cash. Calculate the amount paid for goodwill

  The partnership has 60000 of liabilities when betty retires

betty retires from the bs partnership when the basis of her one-third interest is 105000 which includes her share of

  On march 6 sargento cheese co leased a copier from copiers

on march 6 sargento cheese co. leased a copier from copiers r us. the term of the lease was 3 yrs equal payments with

  Vista corp owes 600000 to first national the debt is

vista corp. owes 600000 to first national. the debt is 10-year 10 note due december 31 2014. because vista corp. is in

  Explain the impact on the current ratio

The current ratio went from 1.9 in 2018 down to .3 in 2019, Explain the impact on the current ratio and net income as a result of these accounting practices

  1 when does gaap require the use of a debt service fund 2

1. when does gaap require the use of a debt service fund?2. are there instances when a governmental entity is not

  Determine the efficiency of operations

To be successful, all businesses must perform periodic assessments to determine the efficiency of operations. Whether you are an owner, a manager, or a frontline employee,

  How computers and technology help in investigating a fraud

What are the factors that affect the decision to prosecute an entity? How can computers and technology help in investigating a fraud

  How much are Henrietta realized and recognized gains

Henrietta transfers cash of $75,000 and equipment with a fair market value of $25,000. How much are Henrietta realized and recognized gains

  What does the journal entry to record the sale include

Merchandise with a sales price of $460 is sold on account with term 2/10, n/30. What does the journal entry to record the sale include?

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd