Chance enterprises leased equipment from third bank leasing on january 1, 2018. third bank purchased the equipment at a cost of $1,000,000. chance elected the short-term lease option. appropriate adjusting entries are made annually. related information: lease term 1 year (4 quarterly periods) quarterly lease payments $40,000 at jan. 1, 2018, and at mar. 31, june 30, and sept. 30. economic life of asset 5 years interest rate charged by the lessor 8% required: prepare appropriate entries for chance from the beginning of the lease through december 31, 2018. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. round your answers to the nearest whole dollar amount.)

You are the manager of a firm that produces output in two plants. the demand for your firm's product is p = 20 − q, where q = q1 + q2. the marginal costs associated with producing in the two plants are mc1 = 2 and mc2 = 2q2. how much output should be produced in plant 1 in order to maximize profits?

Used cars usually have options: higher depreciation rate than new cars lower financing costs than new cars lower insurance premiums than new cars lower maintenance costs than new cars

Walsh company manufactures and sells one product. the following information pertains to each of the company’s first two years of operations: variable costs per unit: manufacturing: direct materials $ 25 direct labor $ 12 variable manufacturing overhead $ 5 variable selling and administrative $ 4 fixed costs per year: fixed manufacturing overhead $ 400,000 fixed selling and administrative expenses $ 60,000 during its first year of operations, walsh produced 50,000 units and sold 40,000 units. during its second year of operations, it produced 40,000 units and sold 50,000 units. the selling price of the company’s product is $83 per unit. required: 1. assume the company uses variable costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 2. assume the company uses absorption costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 3. reconcile the difference between variable costing and absorption costing net operating income in year 1.