Reference no: EM132794262
Questions -
Q1. On January 1, 2020 an entity entered into a lease for commercial space with the following information: Annual rental payable at the end of each year P200,000; Lease term for 5 years; Implicit rate in the lease for 9%. On January 1, 2022, the entity and the lessor agreed to amend the original lease by extending the lease by 3 more years with the following information: Annual rental payable at end of each year beginning December 31, 2022 for P200,000 and an implicit rate in the lease for 11%. Compute the carrying value of the right of use asset on December 31, 2022.
Q2. On January 1, 2020, an entity leased a machinery with the following data: Annual rental payable at the end of each year for P80,000 with a lease term for 6 years and with an implicit rate of 7%. On January 1, 2023, the entity and the lessor agreed to amend the original terms of the lease by reducing the lease payment to P70,000 and increasing the implicit rate to 9%. Compute for the interest expense to be recognize on January 1, 2023.
Q3. On January 1, 2016, an entity entered into a four-year operating lease. The payments were as follows: P20,000 for 2016; P18,000 for 2017; P16,000 for 2018 and P14,000 for 2019. What is the correct amount of lease expense for 2019?
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What you have learned about the cultural bases of problems
: Critically discuss the ways in which ideas of Black inferiority and the place of Black people in the U.S. and the Diaspora are represented through negative.
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Find out guaranteed investment certificate
: Ingrid has invested $10,000 in a Guaranteed Investment Certificate that promises her 12% per year for the first 5 years and 4% per year for the next 10 years.
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What the company will experience
: Variable costs of $800,000, and fixed costs of $400,000. If a $4 drop in selling price will boost unit sales volume by 20%, the company will experience
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Coupon rate of the bond-beam inc
: Beam Inc. bond are trading today for a price of $1,083.46. The bond currently has 12 years until maturity and has a yield to maturity of 5.53%.
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What is the correct amount of lease expense
: The payments were as follows: P20,000 for 2016; P18,000 for 2017; P16,000 for 2018 and P14,000 for 2019. What is the correct amount of lease expense for 2019
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How cua shall contribute assets amounting to
: All the partners agree to admit Cua as 1/6 partner in the partnership without any asset revaluation nor bonus. Cua shall contribute assets amounting to?
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What you see being depicted in the work
: Choose three examples from the art of the ancient Aegean that either prove or disprove the statement about the nature of the art from this region-that.
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What is Mike realized gain on the sale
: On the date of the gift, Ida paid a gift tax of $12,000. Mike paid a sales commission to his broker of $16,000 to sell the land. What is Mike realized gain
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Calculate the value of mom trademark as at december
: Calculate the value of MOM's trademark as at December 31, 2020. LOL Inc. purchased 75% of MOM Inc. on January 1, 2019 for $1,000,000.
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