On December 31, Year 1, Strickland Corp. signed a 7-year finance lease for an airplane. The airplane's fair value was $841,500, which is the present value of the lease payments to be used to account for this finance lease. Strickland then made the first annual lease payment of $153,000 on December 31, Year 1. What amount should Strickland report as finance lease liability in its December 31, Year 1 balance sheet

According to the law of demand, there is an inverse relationship between price and quantity demanded. that is, the demand curve for goods and services slopes downward. why?

Lincoln company has an accounting policy for internal reporting purposes whereby the costs of any research and development projects that are over 70 percent likely to succeed are capitalized and then depreciated over a five-year period with a full year of depreciation in the year of capitalization. in the current year, $400,000 was spent on project one, and it was 55 percent likely to succeed, $600,000 was spent on project two, and it was 65 percent likely to succeed, and $900,000 was spent on project three, and it was 75 percent likely to succeed. in converting the internal financial statements to external financial statements, by how much will net income for the current year have to be reduced? a. $180,000b. $380,000c. $720,000d. $900,000

Dyed-denim corporation is seeking to lower the costs of value creation and achieve a low-cost position. as a result, it plans to move its manufacturing plant from the u. s. to thailand, which based on company research, is the optimal location for production. this strategic move will most likely allow the company to realize