User Account

All Pages

Compute amount that reported by sheridan corporation

Assignment Help Accounting Basics
Reference no: EM132739850

Question - On December 31, 2021, Sheridan Corporation leased a ship from Fort Company for an eight-year period expiring December 30, 2029. Equal annual payments of $480000 are due on December 31 of each year, beginning with December 31, 2021. The lease is properly classified as a finance lease on Sheridan's books. The present value at December 31, 2021 of the eight lease payments over the lease term discounted at 9% is $2895816. Assuming all payments are made on time, compute the amount that should be reported by Sheridan Corporation as the total liability for finance leases on its December 31, 2022 balance sheet?

a. $2153239.

b. $2895816.

c. $2880000.

d. $2415816.

Reference no: EM132739850

Questions Cloud

Determine what is net realizable value of the receivables : If Alpha Gym estimates 2% of revenue as bad debts, what is the net realizable value of the receivables which should be presented in the statement of financial
Make a medium tray : Fely started a food business and she needs to know how much her plates cost to make to know how much her profit is. She has 3 sizes or seafood trays:
Find what is the partnership agreed capital : What The second cash payment to any partner/s under program of priorities shall be made thus? What is the partnership's agreed capital?
Marijuana was decriminalized in canada : Marijuana was decriminalized in Canada in October 2018. Since that time, many Canadian police departments have implemented policies regarding officials
Compute amount that reported by sheridan corporation : Compute the amount that should be reported by Sheridan Corporation as the total liability for finance leases on its December 31, 2022 balance sheet
Discuss workplace ethics with example : This week discusses workplace ethics. Sadly, this is a concept that we see all too often in the media. Using the company you chose for this week's ethical.
Annualized percentage rate compounded annually : Coupon rate and the yield to maturity are expressed as an annualized percentage rate compounded annually. Coupons are paid annually.
General civil liability-tort liability-vicarious liability : Explain the differences between general civil liability, tort liability, and vicarious liability,
Compute the above costs represent direct labor cost : Overhead is applied at the rate of 20% of direct materials cost. Direct labor is 300% of overhead applied. Compute the above costs represent direct labor cost

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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