Business, 16.10.2020 20:01 camrynhelm8278
To raise operating funds, Coyne Incorporated sold its office building to an insurance company on January 1, 2021, for $1,600,000 and immediately leased the building back. The operating lease is for 12 years of the building's estimated 20-year remaining useful life. The building has a fair value of $1,600,000 and a book value of $1,300,000 (its original cost was $2 million). The rental payments of $200,000 are payable to the insurance company each December 31. The lease has an implicit rate of 9%.
Prepare the appropriate entries for National Distribution Center on January 1, 2018 and December 31, 2018, to record the sale-leaseback and necessary adjustments.
1. Record Sale of Building
2. Record the beginning of the lease for National
3. Record the lease and interest expense for National
4. Record the amortization expense for national
Answers: 1
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Atennis club charges a monthly membership fee of $150 and charges it members $10 per hour to use a court. there's also $500 fee to become a member. stella joined the tennis club last spring, and she has been a member for 5 months. she has been playing 10 hours of tennis each month. stella values an hour of her time at $20. during a boring afternoon meeting, stella thinks about reserving a court to work on her serve for an hour tonight. what's stella's opportunity cost of working on her serve for an hour?
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To raise operating funds, Coyne Incorporated sold its office building to an insurance company on Jan...
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