Cheyenne Corporation entered into a finance lease to lease equipment from Highlander, Inc. on January 1, 2020. The lease calls for annual lease payments of $11,000, beginning on December 31, 2020 for each of the 5 years of the lease. In addition, Highlander, Inc. will pay Cheyenne Corporation $2,200 as a cash incentive for entering the lease by January 1, 2020. In relation to the lease agreement, Cheyenne incurred the following costs. Commissions for selling agents $800 Internal engineering costs 500 Legal fees resulting from the execution of the lease 2,800 If the value of the lease liability is $48,259, what amount will Cheyenne record as the value of the right-of-use asset on January 1, 2020, at commencement of the lease

Consider the scenario below and let us know if you believe lauren smith's actions to be ethical. let us know why or why not. lauren smith is the controller for sports central, a chain of sporting goods stores. she has been asked to recommend a site for a new store. lauren has an uncle who owns a shopping plaza in the area of town where the new store is to be located, so she decides to contact her uncle about leasing space in his plaza. lauren also contacted several other shopping plazas and malls, but her uncle’s store turned out to be the most economical place to lease. therefore, lauren recommended locating the new store in her uncle’s shopping plaza. in making her recommendation to management, she did not disclose that her uncle owns the shopping plaza. if management decided to go with lauren's uncle's plaza, what additional information would be needed in the financial statements?

Garcia industries has sales of $200,000 and accounts receivable of $18,500, and it gives its customers 25 days to pay. the industry average dso is 27 days, based on a 365-day year. if the company changes its credit and collection policy sufficiently to cause its dso to fall to the industry average, and if it earns 8.0% on any cash freed-up by this change, how would that affect its net income, assuming other things are held constant? a. $241.45b. $254.16c. $267.54d. $281.62e. $296.44

Which of the following best describes the economic effect that results from the government having a budget surplus? a. consumers save more and spend less, enabling long-term financial planning. b. overall demand decreases, reducing the incentive for producers to increase production. c. banks have more deposits, enabling them to make more loans to investors. d. government spending increases, increasing competition for goods and services and driving prices up.