Business, 22.04.2021 19:20 zariahirons44
Marigold Corporation entered into a lease agreement on January 1, 2020, to provide Sunland Company with a piece of machinery. The terms of the lease agreement were as follows.
1. The lease is to be for 3 years with rental payments of $11,580 to be made at the beginning of each year.
2. The machinery has a fair value of $58,000, a book value of $40,000, and an economic life of 8 years.
3. At the end of the lease term, both parties expect the machinery to have a residual value of $30,000, none of which is guaranteed.
4. The lease does not transfer ownership at the end of the lease term, does not have a bargain purchase option, and the asset is not of a specialized nature.
5. The implicit rate is 5%, which is known by Dawkins.
6. Collectibility of the payments is probable.
Prepare the amortization schedules Blossom will use over the lease term.
Answers: 3
Business, 22.06.2019 16:00
In microeconomics, the point at which supply and demand meet is called the blank price
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Business, 22.06.2019 20:20
Levine inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. direct materials (9 pounds at $1.80 per pound) $16.20 direct labor (6 hours at $14.00 per hour) $84.00 during the month of april, the company manufactures 270 units and incurs the following actual costs. direct materials purchased and used (2,500 pounds) $5,000 direct labor (1,660 hours) $22,908 compute the total, price, and quantity variances for materials and labor.
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Business, 22.06.2019 20:20
Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale.required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse.b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this.c. explain the difference between sale of receivables with recourse as oppose to without recourse.
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Business, 23.06.2019 01:20
Boxes of honey nut oatmeal are produced to contain 16.0 ounces, with a standard deviation of 0.20 ounce. for a sample size of 49, the 3-sigma -x chart control limits areupper control limit (ucl-x) = ounceslower control limit =(lcl=max
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Marigold Corporation entered into a lease agreement on January 1, 2020, to provide Sunland Company w...
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