User Account

All Pages

What is the balance of lease liability on December

Assignment Help Financial Accounting
Reference no: EM132787822

Problem - Long live Company entered into a lease agreement for the use at a new machine on January 1, 2020. The lease agreement requires an annual payment of P1.500.000 for five years starting December 31, 2020. Long Live guaranteed a residual value of WILD!!! At the end of the contract. The machine will revert to the lessor at the end of live years. The machine has an economic life of 10 years. The implicit rate for this lease is 16% where the present value at T for five periods is 0.4761 and the present value of an ordinary annuity at 1 is 3.2143. What is the balance of lease liability on December 31, 2020?

Reference no: EM132787822

Questions Cloud

Develop an operating budget for the virtual business : The group of angel investors will provide $100,000 in funding to start your virtual business. Develop an operating budget for the virtual business
What is the expected return and standard deviation : What is the expected return and standard deviation for the portfolio? What is the expected return and standard deviation for each asset?
What evidence supports the reality of jesus resurrection : What evidence supports the reality of Jesus resurrection and How does the New Testament attest to both Jesus'' humanity and His divinity
What was required to achieve an effective interview : What was required to achieve an effective interview? Were you able to relate previous knowledge or use communication skills learnt in your studies to help.
What is the balance of lease liability on December : The lease agreement requires an annual payment of P1.500.000 for five years starting December 31, 2020. What is the balance of lease liability on December
Are paid notes canceled and retained in the company files : Is a periodic reconciliation made of the notes payable master file with the actual notes outstanding by an individual who does not maintain the master file?
Summarize chapter who jesus was : Summarize Chapter Who Jesus Was: Bringer of the Reign of God and What Jesus Did: The Reign of God Reestablished.
What does article contribute to field of juvenile justice : What does this article contribute to the field of juvenile justice? If his suggestions are followed, what might be the implications in society and in the field.
Is a notes payable master file maintained : Are liabilities for notes payable incurred only after written authorization by a proper company official? Is a notes payable master file maintained?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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