Business, 30.09.2019 21:00 shortcake8047

On june 30, 2018, georgia-atlantic, inc., leased a warehouse facility from ic leasing corporation. the lease agreement calls for georgia-atlantic to make semiannual lease payments of $562,907 over a three-year lease term, payable each june 30 and december 31, with the first payment at june 30, 2018. georgia-atlantic’s incremental borrowing rate is 10%, the same rate ic uses to calculate lease payment amounts. depreciation is recorded on a straight-line basis at the end of each fiscal year. the fair value of the warehouse is $3 million. (fv of $1, pv of $1, fva of $1, pva of $1, fvad of $1 and pvad of $1) (use appropriate factor(s) from the tables provided.) required: 1. determine the present value of the lease payments at june 30, 2018 that georgia-atlantic uses to record the right-of-use asset and lease liability. 2. what pretax amounts related to the lease would georgia-atlantic report in its balance sheet at december 31, 2018? 3. what pretax amounts related to the lease would georgia-atlantic report in its income statement for the year ended december 31, 2018? (for all requirements, enter your answers in whole dollars and not in millio

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 23:00

Each of the four independent situations below describes a sales-type lease in which annual lease payments of $12,500 are payable at the beginning of each year. each is a finance lease for the lessee. (fv of $1, pv of $1, fva of $1, pva of $1, fvad of $1 and pvad of $1) (use appropriate factor(s) from the tables provided.) situation 1 2 3 4 lease term (years) 3 3 3 3 assetâ€™s useful life (years) 3 4 4 6 lessorâ€™s implicit rate (known by lessee) 14 % 14 % 14 % 14 % residual value: guaranteed by lessee 0 $ 5,000 $ 2,500 0 unguaranteed 0 0 $ 2,500 $ 5,000 purchase option: after (years) none 2 3 3 exercise price n/a $ 7,500 $ 1,500 $ 3,500 reasonably certain? n/a no no yes

Answers: 1

Answer

Business, 22.06.2019 08:40

Which of the following is not a characteristic of enterprise applications that cause challenges in implementation? a. they introduce "switching costs," making the firm dependent on the vendor. b. they cause integration difficulties as every vendor uses different data and processes. c. they are complex and time consuming to implement. d. they support "best practices" for each business process and function. e. they require sweeping changes to business processes to work with the software.

Answers: 1

Answer

Business, 22.06.2019 19:30

He moto hotel opened for business on may 1, 2017. here is its trial balance before adjustment on may 31. moto hotel trial balance may 31, 2017 debit credit cash $ 2,283 supplies 2,600 prepaid insurance 1,800 land 14,783 buildings 72,400 equipment 16,800 accounts payable $ 4,483 unearned rent revenue 3,300 mortgage payable 38,400 common stock 59,783 rent revenue 9,000 salaries and wages expense 3,000 utilities expense 800 advertising expense 500 $114,966 $114,966 other data: 1. insurance expires at the rate of $360 per month. 2. a count of supplies shows $1,050 of unused supplies on may 31. 3. (a) annual depreciation is $2,760 on the building. (b) annual depreciation is $2,160 on equipment. 4. the mortgage interest rate is 5%. (the mortgage was taken out on may 1.) 5. unearned rent of $2,580 has been earned. 6. salaries of $810 are accrued and unpaid at may 31

Answers: 2

Answer

Business, 23.06.2019 02:30

The wall street journal reported that over a recent five-month period, a downturn in the economy has caused endowments to decline 23%. what is the estimate of the dollar amount of the decline in the total endowments held by these 10 universities (to the nearest billion)?

Answers: 3

Answer

You know the right answer?

On june 30, 2018, georgia-atlantic, inc., leased a warehouse facility from ic leasing corporation. t...

Questions