What is the reported balance of the lease receivable

Assignment Help Accounting Basics
Reference no: EM131900579

Problem

Lease Receivable Carrying Value: A lessor entered into a capital lease. The agreement requires six annual payments of $160,000 in advance. The implicit interest 10%. The residual value is $130,164 and is NOT guaranteed. What is the reported balance of the Lease Receivable for the first fiscal year?

Reference no: EM131900579

Questions Cloud

Explain the impact of the adjustment on financial statements : In your reply discuss the status of the accounts affected prior to the adjustment. Explain the impact of the adjustment on the financial statements.
How it was performed without technology : The day of test, members would test and circle their answers in the test book and put their answers on an OMR classroom answer sheet.
At what amount did lebrons bookstores report net income : Assuming the sale of the book division is reported as a discontinued operation, at what amount did LeBron's Bookstores report net income?
Summarize the ceos letter to the shareholders : Review of the Letter to the Shareholder: summarize the CEOs (Chief Executive Officer's) Letter to the Shareholders.
What is the reported balance of the lease receivable : Lease Receivable Carrying Value: A lessor entered into a capital lease. What is the reported balance of the Lease Receivable for the first fiscal year?
Explain the concepts of trademarks : Explain the concepts of Trademarks, requirements for infringement and possible remedies/damages.
What is the amount of lease receivable capitalized : The implicit interest 10%. The residual value is $130,164 and is NOT guaranteed. What is the amount of Lease Receivable capitalized?
Find the least cost of transporting the material : Find the least cost of transporting the material. (All assumptions of the transportation model holds, such as the linearity of the cost of shipment)
Explain your understanding about the field of supply chain : Outline the importance of supply chain management and operation management within product and service industries.

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.

  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!

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