User Account

All Pages

What is the total amount that should be charged

Assignment Help Accounting Basics
Reference no: EM133105236

Question - Jean Co entered into a lease for an item of plant on 1st April 2020 which required payments of £15,000 to be made annually in arrears, with the first payment required to pay on 31st March 2021. The present value of the lease payments was estimated to be £100,650 at the commencement of the lease and the rate of interest implicit in the lease was 8%. Both the lease term and the plant's estimated useful life was ten years. There is no residual value of this item of plant at the end of useful life and Jean Co accounts for depreciation and finance charges on monthly basis. What is the total amount that should be charged to Jean Co's statement of profit or loss relevant to this right-of- use asset for the year ended on 31st October 2020?

Reference no: EM133105236

Questions Cloud

Explain how a player draft can be both potentially good : Explain how a player draft can be both potentially good and potentially bad for professional sport franchises, athletes, and fans. Give real-world examples to s
Workplace or training environment anti-discrimination policy : This assessment requires you to undertake a role-play to demonstrate your ability to understand and respect differences in personal values and beliefs in the wo
Compute the company current asset balance : Fixed Assets = $100,000; Long Term Liabilities = $50,000; and Accounts Payable = $25,000. Compute the company's Current Asset balance
Describe ethical practice standards for privacy : Describe ethical practice standards for privacy, confidentiality and security customer information required as part of real estate practice.
What is the total amount that should be charged : What is the total amount that should be charged to Jean Co's statement of profit or loss relevant to this right-of- use asset for the year ended on 31st October
Effective strategic leadership : Outline at least five competencies that are essential to effective strategic leadership.
Write down the process to correctly store dry : Write down the process to correctly store dry, chilled, and frozen goods that you received to prepare the dish.
What should eric yuan do next : How would you assess Zoom's efforts at business model innovation? What should Eric Yuan do next?
Importance of leadership : While managers should of essence be leaders, leaders need not be managers. Clarify this statement with reference to the importance of leadership within organisa

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