On January 1, 2019, Free Corporation signed a ten-year noncancelable lease for certain machinery. The terms of the lease called for Free to make annual payments of $220,000 at the end of each year for ten years with the title passing to Free at the end of this period. Free uses the straight-line method of depreciation for all of its fixed assets and the leased machinery has an estimated useful life of 15 years and no salvage value. Free accordingly accounted for this lease transaction as a finance lease. The lease payments were determined to have a present value of $1,342,016 at an effective interest rate of 8%. With respect to this capitalized lease, Dean should record for 2019

Select one:

a. interest expense of $89,761 and depreciation expense of $134,202.

b. lease expense of $220,000

c. interest expense of $107,361 and depreciation expense of $89,468.

d. interest expense of $107,361 and depreciation expense of $134,202.

e. interest expense of $89,761 and depreciation expense of $89,468.

1tanner invested $135,000 cash along with office equipment valued at $32,400 in the company in exchange for common stock. 2 the company prepaid $7,200 cash for 12 months’ rent for office space. (hint: debit prepaid rent for $7,200.) 3 the company made credit purchases for $16,200 in office equipment and $3,240 in office supplies. payment is due within 10 days. 6 the company completed services for a client and immediately received $2,000 cash. 9 the company completed a $10,800 project for a client, who must pay within 30 days. 13 the company paid $19,440 cash to settle the account payable created on april 3. 19 the company paid $6,000 cash for the premium on a 12-month insurance policy. (hint: debit prepaid insurance for $6,000.) 22 the company received $8,640 cash as partial payment for the work completed on april 9. 25 the company completed work for another client for $2,640 on credit. 28 the company paid $6,200 cash in dividends. 29 the company purchased $1,080 of additional office supplies on credit. 30 the company paid $700 cash for this month’s utility bill. prepare general journal entries to record these transactions. 2. post the journal entries from part 1 to the ledger accounts.

Given the following information about the closed economy of brittania, what is the level of investment spending and private savings, and what is the budget balance? assume there are no government transfers. gdp=$1180.00 million =$510.00 million =$380.00 million =$280.00 million

Gary lives in an area that receives high rainfall and thunderstorms throughout the year. which device would be useful to him to maintain his computer?