Business, 25.11.2021 14:00 genyjoannerubiera
Assume that IBM leased equipment that was carried at a cost of $115,000 to Crane Company. The term of the lease is 6 years beginning December 31, 2019, with equal rental payments of $28,430 beginning December 31, 2019. The fair value of the equipment at commencement of the lease is $144,999. The equipment has a useful life of 6 years with no salvage value. The lease has an implicit interest rate of 7%, no bargain purchase option, and no transfer of title. Collectibility of lease payments for IBM is probable. Assume the sales-type lease was recorded at a present value of $144,999.
Required:
Prepare IBMâs December 31, 2020, entry to record the lease transaction with Crane Company.
Answers: 2
Another question on Business
Business, 22.06.2019 02:30
Luc do purchased stocks for $6,000. he paid $4,000 in cash and borrowed $2,000 from the brokerage firm. he bought 100 shares at $60.00 per share ($6,000 total). the loan has an annual interest rate of 8 percent. six months later, luc do sold the stock for $65 per share. he paid a commission of $120 and repaid the loan. his net profit was how much? pls
Answers: 3
Business, 22.06.2019 07:00
Amarket that consists of all possible consumers regardless of their specific needs or wants is a
Answers: 1
Business, 22.06.2019 18:00
When peter metcalf describes black diamondâs manufacturing facility in china as a âgreenfield project,â he means that partnered with a chinese company to buy the plant . of all market entry strategies, this one carries the lowest risk. because black diamond manufactures its outdoor sports products outside the united states, what risks must its managers be aware of?
Answers: 1
You know the right answer?
Assume that IBM leased equipment that was carried at a cost of $115,000 to Crane Company. The term o...
Questions
Arts, 07.12.2021 02:40
Mathematics, 07.12.2021 02:40
Physics, 07.12.2021 02:40
