Aladdin Carpet Care had the following total assets, liabilities, and equity as of October 31: (Click the icon to view the data.) What is Aladdin Carpet Care's debt ratio as of October 31? - Debt Ratio 1 Data Table Assets Liabilities Equity $ 200,000 30,000 170,000 Print Done

Answers

Answer 1

Answer:

0.15 or 15%

Explanation:

Total debt ratio is the ratio of total debt to total asset

Total debt ratio = total liability / total asset = 30,000 / 200,000 = 0.15 or 15%


Related Questions

If the optimal production lot size decreases, average inventory increases. A. TrueB. Fasle

Answers

Answer:

A. True

Explanation:

If the optimal production decreases than the average inventory will increase.

Use the expanded accounting equation to compute the missing financial statement amounts.CompanyAssets.=Liability+Owner capital -Owner withdrawals+ Revenues- Expenses1. $64,000 $22,000 $32,000 $0 $? $14,0002. $102,800 $38,000 $56,000 $? $36,000 $24,000What is the revenues amount for company 1 and the owner withdrawals for company 2?

Answers

Answer:

1. $24,000

2. $3,200

Explanation:

1. Company Assets = Liability + Owner capital - Owner withdrawals +  Revenues - Expenses

64,000 = 22,000 + 32,000 - 0 + revenues - 14,000

Revenue = 64,000 - 22,000 - 32,000 + 14,000

Revenue = $24,000

2. Company Assets = Liability + Owner capital - Owner withdrawals +  Revenues - Expenses

102,800 = 38,000 + 56,000 - withdrawals + 36,000 - 24,000

-Withdrawals = 102,800 - 38,000 - 56,000 - 36,000 + 24,000

-Withdrawals = -$3,200.

Withdrawals = $3,200

1. The revenue amount for company 1 is $24,000

2. The owner withdrawals for company 2 is $3,200

The calculation is as follows:

1. Company Assets = Liability + Owner capital - Owner withdrawals +  Revenues - Expenses  

64,000 = 22,000 + 32,000 - 0 + revenues - 14,000  

Revenue = 64,000 - 22,000 - 32,000 + 14,000  

Revenue = $24,000

2. Company Assets = Liability + Owner capital - Owner withdrawals +  Revenues - Expenses

102,800 = 38,000 + 56,000 - withdrawals + 36,000 - 24,000

-Withdrawals = 102,800 - 38,000 - 56,000 - 36,000 + 24,000

-Withdrawals = -$3,200.

Withdrawals = $3,200

Learn more: https://brainly.com/question/17429689?referrer=searchResults

Which of the following best describes how the Federal Reserve Bank helps
banks during a bank run?
A. The Federal Reserve Bank regulates exchanges to prevent the
demand for withdrawals from rising above the required reserve
ratio.
B. The Federal Reserve Bank has the power to take over a private
bank if customers demand too many withdrawals.
C. The Federal Reserve Bank can provide a short-term loan to banks
to prevent them from running out of money.
D. The Federal Reserve Bank acts as an insurance company that
pays customers if their bank fails.

Answers

Answer:

C. The Federal Reserve Bank can provide a short-term loan to banks

to prevent them from running out of money.

Explanation:

Workplace technology is relied upon by businesses to increase _____________. Employee turnover Philanthropy Efficiency and effectiveness Malfunction and futility

Answers

Answer:

Workplace technology is relied upon by businesses to increase _____________.

Efficiency and effectiveness

Explanation:

Workplace technology including the use of computer systems, internet, and other communication and information devices has propelled manufacturing and eased communication.  Technology has exponentially improved the rate of production and speed at which business occurs. Technology in the workplace has helped factory and administrative workers to become more efficient than ever before with the automation of the many processes.   As efficiency is increased, so has effectiveness in the production of desired results been improved tremendously.  For instance, a process or set of processes that used to take hours now can take only minutes.

A new furnace for your small factory will cost $45,000 and a year to install, will require ongoing maintenance expenditures of $1,400 a year. But it is far more fuel-efficient than your old furnace and will reduce your consumption of heating oil by 4,200 gallons per year. Heating oil this year will cost $2 a gallon; the price per gallon is expected to increase by $0.50 a year for the next 3 years and then to stabilize for the foreseeable future. The furnace will last for 20 years, at which point it will need to be replaced and will have no salvage value. The discount rate is 12%.a. What is the net present value of the investment in the furnace?b. What is the IRR? (Do not round intermediate calculations.c. What is the payback period? (Do not round intermediate calculations.d. What is the equivalent annual cost of the furnace? (Do not round intermediate calculations.e. What is the equivalent annual savings derived from the furnace?f. Compare the PV of the difference between the equivalent annual cost and savings to your answer to part (a). Are the two measures the same or is one larger?

Answers

Answer:

a) NPV = $43,874.65

b) IRR = 24.37%

c) payback period = 5.33 years

d) equivalent annual cost = $6,024.55

e) equivalent annual savings = $13,298.61

f) since the NPV is positive, the equivalent annual savings must be higher than the equivalent annual costs

Explanation:

initial outlay year 0 = -$45,000

net savings year 1 = -$1,400 + (4,200 x $2) = $7,000

net savings year 2 = -$1,400 + (4,200 x $2.50) = $9,100

net savings year 3 = -$1,400 + (4,200 x $3) = $11,200

net savings years 4 - 20 = -$1,400 + (4,200 x $3.50) = $13,300

discount rate = 12%

using a financial calculator:

NPV = $43,874.65

IRR = 24.37%

payback period = 5.33 years

equivalent annual cost = (present value of costs x 12%) / / [1 - (1 + 12%)⁻ⁿ] =[($45,000 + $10,457.22) x 12%] / [1 - (1 + 12%)⁻ⁿ] = $6,654.87 / 0.89633 = $7,424.57

equivalent annual savings = (present value of savings x 12%) / / [1 - (1 + 12%)⁻ⁿ] = ($99,332.87 x 12%) / / [1 - (1 + 12%)⁻ⁿ] = $11,919.94 / 0.89633 = $13,298.61

The primary source of information to be reported about litigation, claims, and assessments is the:_________

Answers

Answer:

Client's management

Explanation:

Client's management in business can be explained as the act of maintaining the positive relationship between the client and the company in order to have a productive interaction so that the company can deliver the quality of service required by the client and for lasting relationship between them.

This is important in business to keep your client from getting their service/ product elsewhere. It should be noted that the primary source of information to be reported about litigation, claims, and assessments is the Client's management

Opportunity costs may be viewed only in terms of financial resources.a) trueb) false

Answers

Answer:

b) false

Explanation:

Opportunity costs can also be viewed in terms of personal preferences or satisfaction. E.g. a person could legally work all day and all night. Of course no one can actually work that much, but it is possible to work between 16 - 18 hours per day. But by doing so, you will have to lose certain personal benefits like spending time with your family, girl/boy friend, doing things that entertain you, or even going to church if you are very religious (and many other things). People value their personal activities in a different way, and will decide what to do depending on which activity they value most.

Pfister Corporation reports Retained Earnings of $8,863 million. This represents: ________.

Answers

Answer:

The below options are missing from the question:

a. the total amount of income earned since incorporation less distributions to shareholders

b. the total amount of income earned since incorporation

c. the amount of cash available to distribute to common shareholders

d. a reserve the firm can use to acquire another company

a. the total amount of income earned since incorporation less distributions to shareholders

Explanation:

The retained earnings of $8,863 million is the accumulated net income that the company has realized since it incorporation minus all dividends paid to shareholders since.

Note the formula for determining closing retained earnings is given below:

closing retained earnings=beginning retained earnings+net income-dividends

Although Janet has a Director (Communications) role within Zenith Fine Furnishings for the special project she is working on, her responsibilities include dealing directly with non-management employees and essentially acting as a liaison between management and non-management employees. These responsibilities indicate Janet is serving at which level of management?

a. top-level managet
b. middle-level manager
c. executive manager
d. frontline manager
e. strategeic manager

Answers

Answer: b. middle-level manager

Explanation: Middle level managers act as intermediate between the workers and the exec utives as evident in some of the responsibilities of Janet which include: dealing directly with non-management employees and essentially acting as a liaison between management and non-management employees. They are subordinate to and accountable to the senior management but above the lowest levels of operational workers to whom they provide guidance and inspiration to. These thus, is an indication that Janet is serving at the middle-level manager level of management.

A company offers ID theft protection using leads obtained from client banks. Three employees work 40 hours a week on the leads, at a pay rate of $19 per hour per employee. Each employee identifies an average of 4,100 potential leads a week from a list of 5,000. An average of 5 percent of potential leads actually sign up for the service, paying a one-time fee of $70. Material costs are $1,400 per week, and overhead costs are $9,300 per week.
Calculate the multifactor productivity for this operation in fees generated per dollar of input. (Round your answer to 2 decimal places.)

Answers

Answer:

3.32

Explanation:

The computation of the multifactor productivity is shown below:

As we know that

Multifactor productivity = Output ÷ Input

where,

Output = (possible leads × no of workers × fee × Conversion percentage)

= 4100 × 3 × 70 × 5%

= $43050

And,

Input is

= Labor cost + Material cost + Overhead cost

where,

Labor cost = 3 × 40 × 19

= $2,280

Material cost = $1,400

And,  

Overhead cost = $9,300

So,

Input = $2,280 + $1,400 + $9,300

= $12,980

Now

Multifactor productivity is

= $43,050 ÷ $12,980

= 3.32

CVP analysis can be used to study the effect of:________a. changes in selling prices on a company's profitability.b. changes in variable costs on a company's profitability.c. changes in fixed costs on a company's profitability.d. changes in product sales mix on a company's profitability.e. All of the answers are correct.

Answers

Answer:

e. All of the answers are correct.

Explanation:

Cost Volume Profit (CVP) analysis involves a model of the relations amont the prices of the products, the volume or level of activity, unit variable costs, and the sales mix. The model is used to predict the impact on the profits of changes in those parameters. It is used to study the effects of changes in selling prices on a company's profitability,  changes in variable costs on a company's profitability, changes in fixed costs on a company's profitability, and changes in product sales mix on a company's profitability

Which of the following is true of the Siemens bribery scandal? a not selected option a It stopped before the investigation began. b not selected option b The CEO was involved and condoned it. c not selected option c It seemed to be a long-term pattern. d not selected option d It was a false accusation. e not selected option e The company never admitted it broke the law with its actions.

Answers

Answer:

The true statement about the Siemens bribery scandal is:

b The CEO was involved and condoned it.

Explanation:

The 2008 Siemens scandal was an organized and deliberate effort by the company to bribe government officials in order to secure supply contracts from national governments.  It was a worldwide act perpetrated by senior management officials with a long-term pattern.  The massive bribery  attracted a fine of $160 billion. It seems that bribery is an "embedded business culture in the company."

The account balances of Wilson Towing Service at June 30, 2016, follow:Equipment $12,950Office supplies 1,000Notes payable 4,500Rent expense 500Cash 1,400Dividends 5,500Service revenue 12,500Accounts receivable 8,000Accounts payable 10,000Retained earnings June 1, 2016 5,900Salaries expense 2,500Common stock 2,000Required:1. Prepare the income statement for Wilson Towing Service for the month ending June 30, 2016.2. What does the income statement report?

Answers

Answer:

Wilson Towing Service

Income Statement

For the month ending June 30, 2016

Service revenue        $12,500

Salaries expense      ($2,500)

Rent expense               ($500)

Operating profit         $9,500

The income statement tells us how much profit/loss did a business make during a certain period of time. In this case, the operating profit was $9,500. In order to calculate net income we would need to subtract taxes but we are not given the tax rate or the taxes due.

A plaintiff in a high profile legal suit was offered the following out of court settlement: We the defendent will pay the lump sum of $200 to the plaintiff in exactly 11 years. Or alternatively, we will negotiate a lump sum payment today. According to time value of money, what lump sum amount today will have the same present value as the offered settlement if the interest rate of 4.2%?$______ Place your answer in dollars and cents. Do not include a dollar sign or a comma. Work your analysis out with at least 4 decimal places of accuracy.

Answers

I think I just did this question let me check back and I’ll get back to you

An owner of a small firm needs to hire some managers. Assume that each manager has time to
do only one task. Task A is worth $100,000 to the owner, Task B is worth $75,000, and Task C is
worth $50,000. The owner hires only two managers, having one to do Tas A and the other Task
B. What is the opportunity cost of Task B?

Answers

Answer:

The opportuniy cost is the cost of forgoing one alternative.

In this case, the opportunity cost of Task B is the value of Task C, which is $50,000.

This is because the owner has hired two managers, one to do Task A, and another to do Task B, which leaves Task C unattended.

Give an example of something that is good for one person and bad for someone else.

Answers

Answer: Cigarette smoking

Explanation:

Utility is simply defined as the satisfaction or the enjoyment that an individual gets when the individual consumes a particular good.

An individual who smoked cigarette derives satisfaction from it and gets value for his or her money, therefore it's good for him or her. But in the case of someone who doesn't smoke, the person will see cigarette as something bad because it gives disutility to him or her.

the rise and fall of the surface of the ocean is called​

Answers

the rise and fall on a ocean is called a ' tide '

Why luxury hotels might have higher variability than the budget hotels. Think about the Hotel Industry and why you might see greater price variability for upscale goods compared to budget items.

Answers

Full question attached

Answer:

mean and standard deviation of luxury hotels=145, 27.6

mean and standard deviation of budget hotels=46.1, 5.13

There is higher variability for luxury hotels than budget hotels

Explanation:

Please see attachment for explanation

Perpetual Inventories The following summary data are from the job order cost sheets of Castle Company: Dates Total costs Assigned Total Production Job Started Finished Shipped at September 30 Costs Added in October 1 9/10 9/20 10/11 $9,000 2 9/17 9/29 10/22 6,600 3 9/25 10/11 10/27 3,500 $7,100 4 9/27 10/19 11/4 4,400 5,700 5 10/14 11/10 11/18 3,200 6 10/23 11/17 11/29 4,900 Using the above data,
compute:
(a) the finished goods inventory at October 1 and October 31,
(b) the work in process inventory at October 1 and October 31, and
(c) the cost of goods sold for October. Castle began operations with Job 1.
a. Finished goods inventory at October 1: ____________
Finished goods inventory at October 31: _____________
b. Work in process inventory at October 1: ___________
Work in process inventory at October 31: ____________
c. Cost of goods sold for October:__________

Answers

Answer and Explanation:

The computation of each point is shown below:-

a. The finished goods inventory at October 1 = $9,000 + $6,600

= $15,600

the finished goods inventory at October 31 = $4,400 + 5,700

= $10,100

b. the work in process inventory at October 1 = $3,500 + $4,400

= $7,900

the work in process inventory at October 31 = $3,200 + $4,900

= $8,100

c. the cost of goods sold for October.

Castle start operations with Job 1

= $9,000 + $6,600 + $3,500 + $7,100

= $26,200

Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows.(a) Indicate the missing amount. Case 1 2Direct materials used $9,700 $Direct labor 5,100 8,100Manufacturing overhead 8,400 4,100Total manufacturing costs 16,100Beginning work in process inventory 1,100 Ending work in process inventory 3,100Sales revenue 25,000 Sales discounts 2,600 1,500Cost of goods manufactured 17,100 22,100Beginning finished goods inventory 3,400Goods available for sale 22,100 Cost of goods sold Ending finished goods inventory 3,500 2,600Gross profit 7,100Operating expenses 2,800 Net income 5,100

Answers

Answer:

Incomplete manufacturing costs:

                                                              Case 1               Case 2

Direct materials used                          $9,700              $3,900

Direct labor                                             5,100                 8,100

Manufacturing overhead                       8,400                 4,100

Total manufacturing costs                  23,200               16,100

Beginning work in process inventory    1,100                 9,100

Ending work in process inventory        7,200                 3,100

Sales revenue                                     25,000              31,500

Sales discounts                                     2,600                 1,500

Cost of goods manufactured               17,100               22,100

Beginning finished goods inventory   5,000                 3,400

Goods available for sale                     22,100              25,500

Cost of goods sold                             18,600              22,900      

Ending finished goods inventory        3,500                 2,600

Gross profit                                          3,800                  7,100

Operating expenses                           2,800                  2,000

Net income                                          1,000                   5,100

Explanation:

To work out the missing figures involves some manoeuvres of the figures, working up or down as the case may be.  For example, to calculate the cost of goods sold in Case 1, I deducted the ending inventory of finished goods from the Goods available for sale.  With this figure, it becomes possible to work out the Gross profit and the Net income.

Which of the following is NOT a category of barriers to interpersonal communication?a. individual differences among employeesb. situational factors, such as outside noisec. transmission problems, such as telephone staticd. informal communication networks, such as the grapevine

Answers

Answer:

d. informal communication networks, such as the grapevine

Explanation:

Barriers to interpersonal communication are arises when a perosn has lack of self-awareness, Sensitivity, and flexibility. These barriers affect the teamwork and efficiency of each team member and a whole team as well. individual differences among employees, situational factors such as outside noise, and transmission problems, such as telephone static are examples of barriers to interpersonal communication.

The Mugger sells three types of mugs, flowers, dogs, and sports. The following information is available: Flowers Dogs Sports Total Sales Volume 25,000 100,000 50,000Selling Price $20 $25 $10Variable cost per unit 10 20 6Total fixed costs $500,000 REQUIRED: 1. What is the breakeven point for The Mugger? 2. Would you recommend promoting the change in product mix to 4 to 2 to 1 of flower mugs, dog mugs, and sports mugs? Why?

Answers

Answer:

See answer below

Explanation:

1. The break even point for flowers = Fixed costs / Contribution margin

Where contribution margin = Selling price per unit - Variable cost per unit

= $500,000 / ($20 - $10)

= $500,000 / $10

= 50,000 units

Therefore,

Break even point for the Mugger is 50,000 units.

Break even points for Dogs = Fixed costs ÷ Contribution margin

= $500,000 / ($25 -$20)

= $500,000 / $5

= 100,000 units

Break even points Sports = Fixed costs / Contribution margin

= $500,000 / ($10 - $6)

= $500,000 / $4

= 125,000 units

2. I can recommend that the mugger should change its product mix from 1:4:2 (Flowers, dogs, sports) to 4:2:1 (Flowers , dogs , sports)

• Because there is an increase in the break even points for each of the mugger.

In the month of June, Bedford Company sold 350 widgets. The average sales price was $34. During the month, fixed costs were $6,320 and variable costs were 40% of sales. Instructions:A. Determine the contribution margin in dollars, per unit, and as a ratio.B. Compute the break-even point in units and dollars.C. How much can sales decline before Bedford Company experiences a loss? D. What would be the sales dollars and number of units sold if Bedford Company wishes to have a target profit of $4,000?

Answers

Answer:

Results are below.

Explanation:

Giving the following information:

In June, Bedford Company sold 350 widgets. The average sales price was $34. During the month, fixed costs were $6,320 and variable costs were 40% of sales.

First, we need to calculate the unitary variable cost:

Unitary variable cost= 34*0.4= $13.6

Now, we can determine the contribution margin per unit and the contribution margin ratio:

contribution margin per unit= selling price - unitary variable cost

contribution margin per unit= 34 - 13.6= $20.4

contribution margin ratio= contribution margin per unit/selling price

contribution margin ratio= 20.4/34

contribution margin ratio= 0.6

To calculate the break-even point in units and dollars, we need to use the following formula:

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 6,320/20.4

Break-even point in units= 310 units

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 6,320/0.6

Break-even point (dollars)= $10,533

To calculate the margin of safety, we will use the following formula:

Margin of safety= (current sales level - break-even point)

Margin of safety= 350*34 - 10,533

Margin of safety= $1,367

Finally, the desired profit is $4,000:

Break-even point in units= (fixed costs + desired profit) / contribution margin per unit

Break-even point in units=  (6,320 + 4,000) / 20.4

Break-even point in units= 506 units

Break-even point (dollars)= (fixed costs + desired profit)/ contribution margin ratio

Break-even point (dollars)= 10,320/0.6

Break-even point (dollars)= $17,200

The CFO is not responsible for which of the following departments?
A. Investor relations.
B. Research and development.
C. Legal.
D. Production.

Answers

Answer:

A. Investor relations

Explanation:

The chief financial officer of a company is responsible for maintaining the finances of the organisation. This includes financial planning, risk management, record keeping and financial reporting.

However investor relations has increasingly become part of their job role.

Investor relations requires oversight that emphasises audit accuracy, disclosure, reporting, and compliance practices. This needs a person with financial management background.

So this has become part of the portfolio of the CFO.

The following transactions were incurred by Stoncius Fabricators during January, the first month of its fiscal year. i (Click the icon to view the transactions) Requirements 1. Record the proper journal entry for each transaction 2. By the end of January, was manufacturing overhead overallocated or underallocated? By how much? a. $170,.000 of materials was purchased on account. Record the entry (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Credit a. Raw Materials Inventory Accounts Payable 170000 170000 b. $162,000 of materials was used in production, of this amount, $143,000 were used on speciffe obs. Record the entry. ournal Entry Date Accounts Debit Credit b. Work in Process Invento Manufacturing Overhead Raw Materials Inventory 143000 19000 162000 c. Manufacturing labor and salaries for the month totaled $220,000. A total of $200,000 of manufacturing labor and salaries was traced to specific jobs, and Journal Entry Date Accounts Debit Credit

Answers

Answer:

Journal entries are given

Explanation:

Raw materials used for special jobs will be allocated to work in process and the remaining used in production will be allocated to manufacturing overhead.

Requirement 1

A (Materials was purchased on account)

                                          DEBIT         CREDIT

Raw Material Inventory  $170,000  

Accounts Payable                                 $,170,000

B (Materials was used in production)

                                                  DEBIT         CREDIT

Work In process Inventory $143,000  

Manufacturing Overhead $19,000  

Raw Material Inventory                             $162,000

C (Manufacturing labor and salaries for the month)

                                                  DEBIT         CREDIT

Work In process Inventory $200,000  

Manufacturing Overhead $20,000  

Wages payable                                            $220,000

Requirement 1

There NO such information available in the question to determine whether manufacturing overheads are over-allocated or under-allocated.

For each of the following costs incurred at Northwest Hospital, indicate whether it would most likely be a direct cost or an indirect cost of the specified cost object.Cost Cost Object Direct Cost Indirect CostEx. Catered food served to patients A particular patient x 1. The wages of pediatric nurses The pediatric department 2. Prescription drugs A particular patient 3. Heating the hospital The pediatric department 4. The salary of the head of pediatrics The Pediatric department 5. The salary of the head of pediatrics A particular pediatric patient 6. Hospital chaplain's salary A particular patient 7. Lab tests by outside contractor A particular patient 8. Lab tests by outside contractor A particular department

Answers

Answer:

1.  Direct Cost

2. Direct Cost

3. Direct Costs

4. Direct Costs

5. Indirect Costs

6. Indirect Costs

7. Direct Costs

8. Indirect Cost

Explanation:

A cost object is where costs accumulates and the value needs to be determined.

Before classifying costs as direct or indirect it is very important to identify the cost object.

Direct costs can be traced directly through observation on the cost object whilst the Indirect costs can not be trace directly to the cost object.

Two countries can gain from specialization and trade as long as they have different opportunity costs in the production of some goods.a) trueb) false

Answers

Answer:

True

Explanation:

the country with the lower opportunity cost in producing a good is more efficient in production and should specialise in production of that good. While the country with the higher opportunity cost is inefficient in the production of the good and should import from the country with the lower opportunity cost.

Let's illustrate with an example

Scenario A

Country X's opportunity cost in the production of good A = 12 units of B

Country Y's opportunity cost in the production of good A = 2 units of B

Country Y is more efficient and should specialise in the production of good A

Scenario B

Country X's opportunity cost in the production of good A = 12 units of B

Country Y's opportunity cost in the production of good A = 12 units of B

Both countries have the same opportunity cost, so, we can't decide which country should specialise

Why is accounting important?
a) Businesses, regulatory agencies, and the general public use accounting information.
b) Accounting information impacts businesses only.
c) Accounting is important only to those who are majoring in accounting.

Answers

Answer:

I belive it is A

Explanation:

I'm not 100 percent sure dude but i leaning towards A

The journal entry to record a credit sale is:______.a) cash; service revenue.
b) accounts receivable: sales.
C) accounts receivable: sales return and allowances.
d) cash; sales.

Answers

Answer:

b) accounts receivable: sales.

Explanation:

When sales are made on credit, no cash is received, hence, the appropriate entries would be to record expectation of future cash receipt by debiting accounts receivable while sales revenue is credited because sales are recorded when entity has delivered goods to the customer and not necessarily when cash in respect of the sales has been received

Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2021. Edison purchased the equipment from International Machines at a cost of $168,120. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Related Information: Lease term 2 years (8 quarterly periods) Quarterly rental payments $22,500 at the beginning of each period Economic life of asset 2 years Fair value of asset $168, 120 Implicit interest rate (Also lessee's incremental borrowing rate) 88 Required: Prepare a lease amortization schedule and appropriate entries for Manufacturers Southern from the beginning of the lease through January 1, 2022. Amortization of the right-of-use asset is recorded at the end of each fiscal year (December 31) on a straight-line basis.

Answers

Complete Question

The  complete question is shown on the first uploaded image

Answer:

Now the calculation of this question and its solution is shown on the second and  third uploaded image

Explanation:

For this question we will be making use of the excel formula

Now note since the installment is paid at the beginning of each quarter, there will be no interest charged in the first quarter and the whole amount paid will be adjusted against the outstanding lease balance.

Other Questions
HELP ME PLS LOVE U GUYS , Why was the Mesopotamian region called the Fertile Crescent and how did its geography impact its art? Convert 0.0555 m to mm Find the equation of a line parallel to 4x-y=-3 that contains the point (-1,-2). Write the equation in slope-intercept form. GHKL is a rectangle. which of the following is a false statement? The height of a triangle is 5 more than double the base length. If the height of the triangle is 74 mm, what is the base length of the triangle? If b represents the length of the base in mm, the equation that represents this problem is Briefly describe how wind and ocean currents are created and how they affect Earths climate. How did the Columbian exchange affect Asia? What word in the sentence provides a context clue to help find the meaning of the word episode? Only #6ac please explain. The Greatest Problems on CampusIdentify the reasoning process, induction or deduction. Explain your answer. The datain the graph are from a random sample of 1200 full-time four-year undergraduatecollege students on 100 campuses. The bar chart shows the percentage of studentsidentifying the greatest problem on campus. We can conclude that there is a highprobability that approximately 17% of all full-time four-year college students believethat cost of education is the greatest problem on campus.Select the correct answer below.OA. This is an example of inductive reasoning because a specific conclusion is reached from general factsB. This is an example of deductive reasoning because a specific conclusion is reached from general factsOC This is an example of deductive reasoning because a general conclusion is reached based on a specific exampleODThis is an example of inductive reasoning because a general conclusion is reached based on a specific example, distance is the number of units between two integers use number line to find the distance between each pair of integers The newest model of a phone comes with several customizable options, including 4 different sizes, 3 different storage capacities, and 6 different colors. If Gael wants to buy 1 of the 2 largest sizes of phone, how many possible combinations of options can he choose from? What happen to almost every important event on its way to becoming history Pablo bought a desktop computer and a laptop computer. Before finance charges, the laptop cost $300 less than the desktop. He paid for the computers using two different financing plans. For the desktop the interest rate was 6% per year, and for the laptop it was 7% per year. The total finance charges for one year were $252. How much did each computer cost before finance charges? quadratic function vertical compression of 2/5 Plzz look at this problem first person with correct answer will get branliest An Olympic swimming pool is 50 meters long. You swim from one end to the other four times How many kilometers do you swim? 2.24 Carbon dioxide (CO2) gas in a piston-cylinder assembly undergoes three processes in series that begin and end at the same state (a cycle). Process 1-2: Expansion from state 1 where p1 = 10 bar, V1 = 1 m3, to state 2 where V2 = 4 m3. During the process, pressure and pV1.5 volume are related by = constant. Process 2-3: Constant volume heating to state 3 where p3 = 10 bar. Process 3-1: Constant pressure compression to state 1. Sketch the processes on p V coordinates and evaluate the work for each process, in kJ. What is the net work for the cycle, in kJ? what is the first step to solving a problem ?