Business, 15.11.2019 05:31, bkimswift7

Jockey city operates funaquatic park that meets the gasb definition of an enterprise fund (ef). in 2018, the ef enters into a 20-year agreement with coco's cabanas to lease shower facilities and changing rooms for the park. if the city were to buy the equipment, it would cost $320,000. assuming that the present value of the lease payments is $281,526, how should the ef initially report the lease?
select one:
a. as a debit to capital asset—cabanas and shower facilities for $281,526 and a credit to lease notes payable for the same amount.
b. as a debit to capital assets—cabanas and shower facilities for $320,000 and a credit for $281,526 to lease payable and a credit for $38,474 to deferred interest expense—leases.
c. as a debit to intangible asset—lease for $281,526 and a credit to lease payable for the same amount.
d. the leased asset and present value of the lease payments should be reported in jockey city's general fund.

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 00:00, 12monkey6

If his parents cannot alex with college, and two of his scholarships will be awarded to other students if he does not accept them immediately, which is the best option for him?

Answers: 1

continue

Business, 22.06.2019 06:00, aliami0306oyaj0n

Use this image to answer the following question. when the economy is operating at point b, the us congress is most likely to follow

Answers: 3

continue

Business, 22.06.2019 20:00, kickdoedon

During the month of march 2017, weimar world, a tax-preparation service, had the following transactions. * billed $496,000 in revenues on credit * received $164,000 from customers' accounts receivable * incurred expenses of $194,000 but only paid $87,700 cash for these expenses * prepaid $32,220 for computer services to be used next month what was the company's accrual basis net income for the month? select one: a. $302,000 b. $264,080 c. $ 41,860 d. $408,300 e. none of the above

Answers: 3

continue

Business, 22.06.2019 22:30, dontcareanyonemo

Schuepfer inc. bases its selling and administrative expense budget on budgeted unit sales. the sales budget shows 1,800 units are planned to be sold in march. the variable selling and administrative expense is $4.30 per unit. the budgeted fixed selling and administrative expense is $35,620 per month, which includes depreciation of $2,700 per month. the remainder of the fixed selling and administrative expense represents current cash flows. the cash disbursements for selling and administrative expenses on the march selling and administrative expense budget should be:

Answers: 1

continue

Do you know the correct answer?

Jockey city operates funaquatic park that meets the gasb definition of an enterprise fund (ef). in 2...