Business, 10.03.2020 07:10, shy88

Bridgeport Corporation entered into a lease agreement on January 1, 2020, to provide Ivanhoe 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 $11,200 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 $20,000, 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 4%, which is known by Dawkins. Collectibility of the payments is probable.

Answers: 3

Show answers

Other questions on the subject: Business

Business, 22.06.2019 05:30, tommyaberman

Sally is buying a home and the closing date is set for april 20th. the annual property taxes are $1,234.00 and have not been paid yet. using actual days, how much will the buyer be credited and the seller be debited

Answers: 2

continue

Business, 22.06.2019 09:30, linnybear300

Any point on a country's production possibilities frontier represents a combination of two goods that an economy:

Answers: 3

continue

Business, 22.06.2019 12:40, hardwick744

Acompany has $80,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. experience suggests that 6% of outstanding receivables are uncollectible. the current credit balance (before adjustments) in the allowance for doubtful accounts is $1,200. the journal entry to record the adjustment to the allowance account includes a debit to bad debts expense for $4,800. true or false

Answers: 3

continue

Business, 22.06.2019 18:00, judali

David paid $975,000 for two beachfront lots in coastal south carolina, with the intention of building residential homes on each. two years later, the south carolina legislature passed the beachfront management act, barring any further development of the coast, including david's lots. when david files a complaint to seek compensation for his property, south carolina refuses, pointing to a passage in david's own complaint that states "the beachfront management act [was] properly and validly designed to south carolina's " is south carolina required to compensate david under the takings clause?

Answers: 1

continue

Do you know the correct answer?

Bridgeport Corporation entered into a lease agreement on January 1, 2020, to provide Ivanhoe Company...