The lease agreement and related facts indicate the following: Leased equipment had a retail cash selling price of $420,000. Its useful life was five years with no residual value. The lease term is Five years and the lessor paid $325,000 to acquire the equipment (thus, selling profit). Lessor’s implicit rate when calculating annual lease payments was 10%. Annual lease payments beginning January 1, 2018, the beginning of the lease, were $100,723. Incremental costs of commissions for brokering the lease and consummating the completed lease transaction incurred by the lessor were $8,700. 1. & 2. Prepare the appropriate entries for the lessor to record the lease and the initial payment at its commencement and any entry(s) necessary at December 31, 2018, the fiscal year-end. (Round your intermediate and final answers to the nearest whole dollar amount. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

Costs of production that do not change when output changes.question 17 options: total revenuefixed incometotal costfixed cost

Adistinguishing feature of ecological economics is the concept of cost-benefit analysis steady-state economies that, like natural systems, neither grow nor shrink environmental damage and also environmental benefits are external greenwashing to increase public acceptance of products the only healthy economy is one that is growing