The present value of the minimum lease payments equals 90% of the fair value of the leased property, according to the lease's financial information. The lease liability and right-of-use asset's initial measurement are unaffected.
a) Lease classification tests and measurement schedules Lease classification tests: Ownership test: Colorado Inc. owns the front-end loader, so this criterion is met. However, it is not conclusive, and the other criteria must be evaluated.
Economic life test: Colorado Inc. leased the front-end loader to Cho Construction for four years. The front-end loader has an estimated life of nine years. The criterion is met, and it is a finance lease.
The present value of the minimum lease payments equals 90% of the fair value of the leased property, according to the lease's financial information. It should be classified as a finance lease by Cho Construction.
Measurement schedules: Front-end loader fair value: $175,000
Front-end loader cost to Colorado: $140,000
Estimated fair value at end of lease term: $36,000
Liability amortization schedule: Lease liability $96,420
Front-end loader - Right of use asset $96,420
Amortization schedule for the right-of-use asset:Year-end Carrying amount $42,760
Yearly amortization $20,660
Year-end carrying amount $22,100
b) Identification of lease types and explanation of classificationsA finance lease has been given to Cho Construction by Colorado Inc. It satisfies the following criteria:
- It conveys ownership of the asset to the lessee at the end of the lease term.- The lease term is equal to 4 years, which is more than 75% of the estimated economic life of the asset.
- The present value of the minimum lease payments is more than 90% of the fair value of the asset.
The accounting treatments to be applied by the lessor and the lessee: Lessee's Accounting Treatment: Cho should record the right-of-use asset and lease liability on January 1, 2020.
Annual payments of $30,507 should be made. Interest expenses on lease liabilities should be calculated and recorded. The front-end loader should be depreciated over its useful life and checked for impairment.Lessor's Accounting Treatment:Colorado should record the leased asset on January 1, 2020, and recognize lease revenue of $36,438 each year for four years.
Interest income on lease receivables should be calculated and recorded. Depreciation on the front-end loader should be recorded.
c) Preparation of all entries for the year 2020 Lease Liability and Right-of-use asset on the Lessee's side: Lease Liability $96,420
Right of use asset $96,420
Leased asset and Lease Receivable on the Lessor's side: Leased asset $140,000
Lease Receivable $96,420
Lease revenue $36,438
Interest income $7,394
Depreciation on the leased asset ($17,111)
Interest expenses ($8,230)
d) Presentation in the balance sheet, income statement, and related notes Lessee: In the balance sheet: The lease liability and right-of-use asset should be presented separately.
In the income statement: There will be a lease expense.Lessor:In the balance sheet: Lease receivables and leased assets should be presented.
In the income statement: Lease revenue will be shown.
e) Impact of the document preparation costs After the execution of lease #3, Colorado incurred $3,000 in document preparation costs. This cost does not need to be included in the lease liability's initial measurement since it does not meet the definition of a lease payment. The lease liability and right-of-use asset's initial measurement are unaffected.
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What's the main reason to use a personal budget?
O A. To keep costs below benefits
O B. To stay out of debt
C. To appropriate discretionary funds
O D. To maximize investment returns
Answer: B, stay out of debt
Explanation: A budget reveals areas where you're spending too much money so you can refocus on your most important goals. A budget can keep you out of debt or help you get out of debt. A budget actually creates extra money for you to do use on things that matter to you.
Using the following accounts and a predetermined overhead rate of 130% of direct labor cost, compute the amount of applied overhead. Work in Process Inventory Beginning WIP 35,200 Direct materials 55,300 Direct labor ? Factory overhead 2 To finished goods Ending WIP 25, 200 Finished Goods Inventory Beginning FG 5,200 Cost of Goods Mfg'd 203, 300 203,300 Multiple Choice $71,890 $138.000 $60,000 25,200 Ending WIP Finished Goods Inventory Beginning FG 5,200 Cost of Goods Mfg'd 203, 300 Multiple Choice $71,890. $138,000 $60,000 $78,000 $90,500
Total of direct labor and factory overhead using work in progress is 1,38,000
Cost of goods manufactured 20300
Less beginning WIP (35200)
Less Direct material (55300)
Add ending WIP 25200
Total of direct labor and factory overhead 1,38,000
Note: We get cost of goods manufactured by adding beginning WIP ,direct labor, direct material and subtract ending WIP from it.
Work in progress- The terms "work in process," "work in progress," "goods in process," and "in-process inventory" all relate to the worth of a company's partially finished goods that are awaiting completion and potential sales. WIP is a vital input for computing inventory on a company's balance sheet and is utilized in supply chain management.
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Prove you know what diminishing marginal utility is by creating an example of your own. Your example
cannot be food related.
Hi there, I'm not answering this question, sorry.
Your task clearly states you must think of your own example and prove what you know. That's why.
Please, if you're coming onto the Brainly website, at least improve your questions.
Payroll Statement Definition
A payroll statement is a list that contains details of the salaries and the wages paid out to the employees of an organization for a specific period of time. The list of employees, the amounts paid out to them, and the deductions made would ideally be included in a payroll statement.
A payroll statement is a list that includes information on the wages and salaries given to employees of an organisation for a specified time period.
The ideal payroll statement would contain the list of employees, the sums paid to them, and the deductions made. A Payroll Statement typically contains information about the employees of an organisation. Various payroll elements paid to all employees are tabulated on a payroll statement.
It can be organised by department, place, title, etc. The employee number, department, or cost centre can be used to sort the payroll statement. The Payroll Statement report can be used to create a report for a particular Pay Head or Ledger.
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Emilee is the head of a large veterinary hospital. She takes care of many duties to keep the hospital up and running. That is why Emilee has put Alonzo in charge of Human Resources. What types of duties might Alonzo have in this position? Does allowing Alonzo to handle things like hiring new vet techs or filing the employee health insurance forms mean that Emilee does not care about the hospital? Explain how Alonzo’s position benefits Emilee in her job.
Answer:
The Human Resources (or ‘HR’) Management pathway focuses on the staff of a company. They work on planning, recruiting, hiring, training, safety, and overall employee development
Emilee have to worry about doing anything reltaed to that because she hired alonzo
The company's employees are the main focus of the Human Resources Management pathway. They are engaged in planning, hiring, training, ensuring staff safety, and general employee development. Because Emilee employed Alonzo, she must worry about taking any action related to that.
What is Human Resources Management?The effective and efficient administration of people inside a company or organization in such a way as to give their firm a competitive advantage is known as human resource management. It is made to maximize worker performance in support of a company's strategic goals.
The practice of recruiting, hiring, assigning, and managing personnel is known as human resource management (HRM). Frequently, HRM is referred to as just "human resources" (HR).
Payroll processing, job description authoring, workplace policy creation, and benefit procurement are all common tasks in HR administration.
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George wants to be a registered nurse, so the best course of training is:
OA. a four-year college degree.
OB. on the job training.
OC. a trade school certificate.
OD. a graduate school after college.
If George wants to be a registered nurse, the best course of training is: A. a four-year college degree.
Who is a registered nurse?A registered nurse can be defined as someone who is qualified to practice nursing and have been giving the license to practice nurse.
Hence, Option A is correct because to be a registered nurse the person must meet the necessary requirements and one of the requirement that must be meet is to have a bachelor's degree in nursing or a four-year college degree in nursing from an accredited university or college.
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Answer:
A
Explanation:
i just got it's right
When should you record the information you need to prepare a reference? list?
A. Before you research B. When you finish your first draft C. After your research is complete D. When you start your second draft E. As you research
You should record the information you need to prepare a reference list (E) as you research. Therefore, correct option is (E).
Explanation:As you research. It is best to record the information you need to prepare a reference list as you conduct your research. This helps ensure that you have all the necessary information and saves time in the long run. Waiting until after your research is complete or until you start your second draft may result in missing important details or having to go back and gather information that was not previously recorded.
You should record the information you need to prepare a reference list (E) as you research. This allows you to keep track of your sources in an organized manner, making it easier to create the reference list when it is time to finalize your work.
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how can you make money at 13 years old.
Answer:
Start a online business, sell your old stuff, make money off your own talents if you have a talent. For example: if you like to paint or make jewlery, sell them on etsy or ebay. Make money by babysitting, walking a dog, chores. Sell feet pictures on omegle or kik (some ppl have foot fetishes, i know a friend who made hundreds a month for selling her foot pics).
Explanation:
A capital projects fund for a new city courthouse recorded a receivable of $300,000 for a state grant and a $450,000 transfer from the general fund. What amount should be reported as revenue by the capital projects fund
Answer:
$300,000
Explanation:
The grant of $300,000 happens not to have any restrictions mentioned alongside it in the question and as such will be declared or reported as revenue as an unrestricted grant. This is acceptable by the Governmental Accounting Standards Board, GASB.
Cheers
1 point
Danny receives a salary of $660 a month and a 7.5% commission on all
sales above his monthly quota of $15,000. His sales for the month totaled
$32,000. What was his gross income for the month? *
$3,060
$1,275
$2,400
$1,935
Answer:
1935
Explanation:
32,000-15,000 = 17,000
17,000 x 0.075 = $1275 (this is his commission)
1275 + 660 = $1935
$1935 is his gross income for the month
Many nations restrict hedging of their currencies due to their national and international policies and interests.
Answer: False
Explanation:
Currency hedging is defined as plan to reduce the influence of foreign exchange on international investment. Many nation's partake in hedging of their currency in order to protect or reduce foreign exchange effect on their currency. They do these by either foreign currency option, forward contracts or spot contracts. It is a safe measure that should be applied by countries for their currency.
Dwight was appointed a principal for Seacoast Securities in June of 1996. He continued in the position until 2012, when he left to start his own firm. How long did Seacoast need to maintain the record of his principal designation
Answer:
16 years
Explanation:
2012-1996=16 years
Which institutions monitors the monetary policies of member nations to ensure a global monetary system that works best for all nations
Answer: International Monetary Fund
Explanation:
Answer: International Monetary Fund
Explanation: Hope this helps
Name 3 career paths trade schools offer.
Define the following terms: differential cost, opportunity cost, and sunk cost.
Defining the following terms:
differential cost, opportunity cost, and sunk cost.
Differential cost:
The difference in cost between the two alternatives.
It is also referred to as incremental cost.
Opportunity cost:
In contrast to other types of costs, opportunity cost does not necessitate payment in cash or its equivalent.
It is a significant advantage or revenue that is foregone as a result of choosing one option over another.
Mostly every alternative has a cost of opportunity.
It is not recorded in the accounting records, but it must be taken into account when making decisions.
Sunk cost:
Sunk costs are costs that have already been incurred and can't be changed by any decision.
It should not be considered when making a decision as no action can reverse it.
Hence, I have defined the given terms above.
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Ally is buying a speed boat for $10,000 with a down payment of $2,500. The bank approved a simple interest flat rate loan for 5 years at 7% APR. How much are the monthly loan payments? (round to the nearest cent) A) $157. 50 B) $168. 75 C) $180. 00 D) $191. 25.
The monthly loan payments for Ally's speed boat amount to $191.25 (option D). This answer is derived from calculating the total loan amount, including interest, and dividing it by the number of months in the loan term.
To calculate the total loan amount, we subtract the down payment of $2,500 from the purchase price of $10,000, resulting in a loan amount of $7,500. The annual interest rate, or APR, is 7%. However, since it's a simple interest flat rate loan, we divide it by the number of compounding periods in a year to obtain the periodic interest rate. In this case, since the loan term is 5 years, there are 5 compounding periods. Therefore, the periodic interest rate is 7% / 5 = 1.4%.
Next, we calculate the total interest by multiplying the loan amount ($7,500) by the periodic interest rate (1.4%) and the loan term in periods (5 years * 5 compounding periods per year = 25 periods). This gives us $7,500 * 1.4% * 25 = $2,625.Finally, we add the total interest ($2,625) to the loan amount ($7,500) to obtain the total repayment amount, which is $10,125. Dividing this total by the number of months in the loan term (5 years * 12 months = 60 months), we find the monthly loan payment to be $10,125 / 60 = $191.25.
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Tri-County G&T sells 150,000 MWh per year of electrical power to Boulder at $75 per MWh, has fixed costs of $82.5 million per year, and has variable costs of $25 per MWh. If Tri-County has 1,000,000 MWh of demand from its customers (other than Boulder), what will Tri-County have to charge to break even?
Answer:
Tri-County has to charge $824.59 per MWh to breakeven.
Explanation:
Breakeven Point is the level at which a firm neither makes a profit nor a loss.
Step 1 : Calculate the Total Fixed Costs
If If Tri-County has 1,000,000 MWh of demand from its customers other than Boulder, then the total fixed costs has to be established for the company first as follows :
Unit Cost = Total Existing Fixed Costs ÷ Existing Activity (Boulder)
= $82,500,000 ÷ 150,000 MWh
= $550 per MWh
Fixed costs including the demand from other customers :
Total MWh = 150,000 MWh ( Boulder) + 1,000,000 MWh (Other customers)
= 1,150,000 MWh
Therefore,
Total Fixed Costs = Unit Cost × Total MWh
= $550 × 1,150,000 MWh
= $632,500,000
Step 2 : Calculate the Break even point in dollars
Break Even Point (dollars) = Fixed Costs ÷ Contribution Margin ratio
Where,
Contribution Margin ratio = Contribution ÷ Sales
= Selling Price - Variable Costs ÷ Sales
= ($75 - $25) ÷ $75
= 0.667
Break Even Point (dollars) = $632,500,000 ÷ 0.667
= $948,275,862.10
Step 3 : Calculate the unit selling price to break even
Unit Price = Total Sales ÷ Total Units Sold
= $948,275,862.10 ÷ 1,150,000 MWh
= $824.59 per MWh
Conclusion :
Tri-County has to charge $824.59 per MWh to breakeven
what is the definition of nationalisation and privatisation?
Answer: definition of nationalisation is transferring a company from private to government and the definition of privatization is transferring a company from public to private ownership.
Explanation: privatisation and nationalisation both are opposite from each other nationalisation is converting private companies or firms in public and in other hand privatisation is converting public companies into government.
Georgina decides to take a dozen cupcakes to school to sell so she can raise money for her school trip to New Orleans. She prices the cupcakes at $0.50 each. With in 15 minutes she has sold all of her cupcakes, and through out the day teachers and students ask her if she has anymore.
This market model is in a [______]?
This is for a economics class I didn't know what catagory to pick
Answer:
Shortage
Explanation:
I got it correct because I watched the given recording.
Georgina decides to take a dozen cupcakes to school to sell so she can raise money for her school trip to New Orleans. This market model is in a "competitive market".
Georgina operates in a competitive market characterized by high demand and a desirable product: her cupcakes. The price point of $0.50 each aligns with the perceived value which is resulting in swift sales within 15 minutes.
Subsequent inquiries from both teachers and students demonstrate sustained interest indicating that Georgina's cupcakes have achieved product-market fit.
Georgina's success in selling all cupcakes swiftly and generating ongoing inquiries highlights a well-balanced market equilibrium within the school community.
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Many vision are written and hung on a wall, Do you think this type of vision has value? What would be required to imprint the vision within each person? 300 words , No written on pen and paper, No copy and paste
Vision statements are a critical value component of an organization's strategic planning process.
They provide a clear picture of the desired future state of the organization and serve as a guide for decision-making and goal-setting. However, simply writing a vision statement and hanging it on a wall does not necessarily translate to success. For the vision to have value, it needs to be imprinted within each person in the organization. To imprint the vision within each person, several steps are required. Firstly, the vision needs to be communicated clearly and consistently to all members of the organization. This means that leaders need to articulate the vision in a way that is easy to understand and relevant to each person's role within the organization. The vision should also be reinforced through regular communication channels, such as team meetings and performance reviews. Secondly, the vision needs to be aligned with the values and beliefs of the organization. If the vision is not consistent with the organization's culture and values, it will be difficult for individuals to adopt it as their own. Therefore, it is important to ensure that the vision is developed in consultation with all stakeholders and reflects the organization's mission and values.
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Consumers provide money as an inflow to which of the following markets? Multiple Choice foreign direct Investment markets o o both product markets and factor markets product markets factor markets The Inverse relationship between quantity demanded and price for a good can be explained by the law of diminishing marginal utility True or False True False
Answer 1. Consumers provide money as an inflow to both product markets and factor markets.
Answer: the inverse relationship between quantity demanded and price for a good can eb explained by the law of diminishing marginal utility. hence, the statement is true.
. Consumers spend money in product markets when purchasing goods and services. They also participate in factor markets by supplying labor and receiving wages, which contributes to the inflow of money.
The law of diminishing marginal utility states that as a person consumes more of a good or service, the additional satisfaction (marginal utility) they gain from consuming each additional unit decreases. As the price of a good decreases, consumers are more likely to purchase additional units, and the quantity demanded increases, creating an inverse relationship between price and quantity demanded.
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How can being open to transfers help employees in their career growth?
A they galn experience
B. transfers always Include a pay raise
C. they galn approval from the management
D. they have job security
59:47
What percentage of jobs are found through networking?
A.0%-20%
b. 20%-40%
c. 40%-60%
d. 60%-80%
Answer:
the answer is letter D
Explanation:
just took the test it was right on EDG
Answer:
60-80
Explanation:
identify risks process tools and techniques include
tools that look into the past, present and future?
(True/False)
"Identify risks process tools and techniques include tools that look into the past, present, and future" This statement is true.
Risk identification is the process of identifying potential business risks and analyzing their effects on the business. Any organization that wants to identify risks uses a variety of tools and techniques, including brainstorming, the Delphi Method, interviews, root cause analysis, swot analysis, and checklist analysis that considers a variety of factors.
Based on the perceived seriousness and likelihood of its effects, qualitative risk analysis assesses or scores risks. On the other hand, quantitative risk analysis determines risk using the information that is available.
Therefore, This statement is true.
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Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 3 were $50,000, $60,000, and $70,000, respectively. In addition, work in process at the beginning of the period for Department 3 totaled $75,000, and work in process at the end of the period totaled $60,000. The journal entry to record the flow of costs into Department 3 during the period for direct materials is:_________.
A. Work in Process--Department 3 100,000
Materials 100,000
B. Work in Process--Department 3 125,000
Materials 125,000
C. Work in Process--Department 3 50,000
Materials 50,000
D. Work in Process--Department 3 70,000
Materials 70,000
Answer:
C.
Work In Process $50,000 (debit)
Raw Materials $50,000 (credit)
Explanation:
Department Costs
Dep 2 : $100,000 + $125,000 + $150,000 = $375,000
Dep 3 : $375,000 + $50,000 + $60,000 + $70,000 + $75,000 - $60,000 = $570,000
Direct Materials Flow Entry :
Work In Process $50,000 (debit)
Raw Materials $50,000 (credit)
Flows in department 3 must include, $375,000 costs from department 2, direct materials : $50,000 , direct labor: $60,000, and applied factory overhead; $70,000 for Department 3.
If an increase in the price of oil by 10% would cause the quantity demanded for oil to fall by 5%, the elasticity of demand for oil in absolute terms is:
The elasticity of demand for oil in absolute terms is 0.5.
Elasticity of demand measures the responsiveness of quantity demanded to changes in price. In this case, since the price of oil increases by 10% and the quantity demanded falls by 5%, we can calculate the elasticity of demand using the formula:
Elasticity of Demand = (% Change in Quantity Demanded) / (% Change in Price)
In this case, the percentage change in quantity demanded is -5% (fall) and the percentage change in price is +10% (increase). Thus, the elasticity of demand is (-5% / 10%) = -0.5. However, we are interested in the absolute value of elasticity, which is 0.5. This means that a 1% increase in price will lead to a 0.5% decrease in quantity demanded for oil. The demand for oil is relatively inelastic, indicating a less responsive demand to price changes.
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The fixed costs of a business are $300,000 per
year and variable costs are $2.00 per unit. The
business sells 200,000 units per year at a selling
price of $5.00. The profit made per year is:
O $300,000
O $1,000,000
O $600,000
O $1,500,000
Answer:
$300,000
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sbj’s adam stern identifies several people as key players in nascar’s future. which individual is mentioned as the person to watch among track owners?
The license plate number of a certain person is a simple illustration of information that may be used to tangentially identify that person. A name and a license plate number can be instantly matched by the police (a third party).
A license plate or number plate is a metal or plastic plate that is used to officially identify an automobile, truck, trailer, or other moving object. Road vehicles, including cars, trucks, and motorcycles, must have license plates in all countries. The registration identifier—a numeric or alphanumeric ID—uniquely identifies the car or its owner in the region's vehicle registry. The identifier is exclusive to a specific state or province in some countries, but not to the entire country in others. The identifier may be connected to either a person or a vehicle, depending on the issuing agency.
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How to advice on choosing the best financing option for a business?
Choosing the best financing option for a business can be a complex process, as there are many factors to consider. Here are some general guidelines to help you make an informed decision.
Assess your business needs: Consider your current financial situation, future goals, and the amount of capital you require. This will help you determine the type of financing that best suits your needs.
Compare financing options: Research and compare different financing options, including loans, lines of credit, and equity financing. Look at the interest rates, repayment terms, and other fees associated with each option.
Consider the impact on ownership: Think about the impact that each financing option will have on your ownership stake in the business. For example, taking out a loan will not dilute your ownership, while equity financing will.
Evaluate the repayment terms: Make sure you understand the repayment terms and are comfortable with the monthly payments. Consider the length of the loan and whether you will be able to make the payments over the long term.
Seek professional advice: Consult with a financial advisor, accountant, or business lawyer to help you make an informed decision. They can help you weigh the pros and cons of each financing option and provide you with additional insights and advice.
Remember, the best financing option for your business will depend on a number of factors, including your current financial situation, future goals, and the amount of capital you require. It's important to do your research and seek professional advice to ensure you make the right decision for your business.
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The cost of campaigning requires candidates to conduct extensive
activities.
O community service
O fund-raising
O illegal
O campaigning
Answer:
fund-raising
Explanation:
Running for a political office is an expensive affair. The candidate and political party require a lot of money to run a successful campaign. To raise funds needed to conduct campaigns, political parties and candidates organize fundraising activities and events.
Community service and campaigning are good platforms to woe voters but cannot generate funds to run for a political office.