What items and amounts will appear on the lessor

Assignment Help Accounting Basics
Reference no: EM131110521

Assume the same information as in P21-4.

(Round all numbers to the nearest cent.)

(a) Assuming the lessor's accounting period ends on September 30, answer the following questions with respect to this lease agreement.

(1) What items and amounts will appear on the lessor's income statement for the year ending September 30, 2011?

(2) What items and amounts will appear on the lessor's balance sheet at September 30, 2011?

(3) What items and amounts will appear on the lessor's income statement for the year ending September 30, 2012?

(4) What items and amounts will appear on the lessor's balance sheet at September 30, 2012?

(b) Assuming the lessor's accounting period ends on December 31, answer the following questions with respect to this lease agreement.

(1) What items and amounts will appear on the lessor's income statement for the year ending December 31, 2010?

(2) What items and amounts will appear on the lessor's balance sheet at December 31, 2010?

(3) What items and amounts will appear on the lessor's income statement for the year ending December 31, 2011?

(4) What items and amounts will appear on the lessor's balance sheet at December 31, 2011? 

Reference no: EM131110521

Questions Cloud

How does the tax treatment of dividend income : How does the tax treatment of dividend income by the corporation moderate the effects of double taxation?
Describe the tax treatment of ordinary income : Describe the tax treatment of ordinary income and that of capital gains. What is the difference between the average tax rate and the marginal tax rate?
Contains the consumer price index : Assume that McDuff prevails in his negligence and/or strict liability lawsuits. In determining the amount of damages he may recover for loss of earnings consider the following: McDuff's medical condition is such that he is unable to ever work agai..
What different aspects of financial markets do the security : What different aspects of financial markets do the Securities Act of 1933 and the Securities Exchange Act of 1934 regulate?
What items and amounts will appear on the lessor : Assuming the lessor's accounting period ends on December 31, answer the following questions with respect to this lease agreement.
The demand and supply functions of k in a given economy : Consider the demand and supply functions of K in a given economy.K = 120 - R [Demand function]K = 2R [Supply function]
Why do you think so many pieces of important legislation : Why do you think so many pieces of important legislation related to financial markets and institutions were passed during the Great Depression?
Describe the process of interventions : Describe the process of interventions used with your client. How active is your client in the process of determining these goals? How do you keep your client motivated - choose an "effective" intervention to use with your client.
What business owners need to know about capital gains : Zero To 60: What Business Owners Need To Know About Capital Gains," describes useful ideas that will help you learn more about capital gains and how this tax regime can impact business decisions.

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Instructionsa enter the balances in ledger accounts allow

instructionsa enter the balances in ledger accounts. allow five lines for each account.b from the trial balance and the

  Fund balances to the changes in net assets

When moving from the changes in fund balances in the Statement of Revenues, Expenditures and Changes in Fund Balances to the changes in net assets in the Statement of Activities, what will be the adjustment?

  Unethical practices and behavior in accounting

Write a 500-word article analysis in which you identify situations that might lead to unethical practices and behavior in accounting.

  What is the accounting nature of this transaction

Discuss whether generally accepted accounting principles provide the proper information useful to managers and investors in this situation.

  Video wave manufacturing company

The following events took place for Video Wave Manufacturing Company during January 2016, the first month of its operations as a producer of digital video monitors:

  The manassas company has 55 obsolete keyboards that are

the manassas company has 55 obsolete keyboards that are carried in inventory at a cost of 9600. if these keyboards are

  Year-end market price of share

Ralite Company had net income for the year of $20 Million. It had 2 Million sharees of comon stock outstanding, with a year-end market price of $82 a share. Dividends during the year were $5.74 a share.

  Ngata corp issued 17-year bonds 2 years ago at a coupon

ngata corp. issued 17-year bonds 2 years ago at a coupon rate of 9.8 percent. the bonds make semiannual payments. if

  The following accounts are maintained by the sprague

the following accounts are maintained by the sprague manufacturing company in its general ledger materials work in

  Dugan sales had the following transactions for jackets in

dugan sales had the following transactions for jackets in 2013 its first year of operations jan 20 purchased 80 units

  Monitoring controls for three distinct types of business

Inventory control requires constant attention. Propose a set of guidelines that reflect the necessary monitoring controls for three distinct types of business (e.g., a shoe retailer, a physician's office, and a food vending truck) to minimize loss..

  Correction of an error in the financial statements

Correction of an error in the financial statements of a prior period discovered subsequent to their issuance.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd