On december 31, 2017, reagan inc. signed a lease with silver leasing co. for some equipment having a seven-year useful life. the lease payments are made by reagan annually, beginning at signing date. title does not transfer to the lessee, so the equipment will be returned to the lessor on december 31, 2023. there is no purchase option, and reagan guarantees a residual value to the lessor on termination of the lease. reagan's lease amortization schedule appears below: dec. 31 payments interest decrease in balance outstanding balance 2017 $ 519,115 2017 $ 90,000 $ 90,000 429,115 2018 $ 90,000 $ 17,165 72,835 356,280 2019 $ 90,000 14,251 75,749 280,531 2020 $ 90,000 11,221 78,779 201,752 2021 $ 90,000 8,070 81,930 119,822 2022 $ 90,000 4,793 85,207 34,615 2023 $ 36,000 1,385 34,615 0 what is the balance of the lease liability on reagan's december 31, 2019, balance sheet (after the third lease payment is made)?

The following account balances at the beginning of january were selected from the general ledger of fresh bagel manufacturing​ company: work in process inventory ​$0 raw materials inventory $ 29 comma 000 finished goods inventory $ 40 comma 900 additional​ data: 1. actual manufacturing overhead for january amounted to $ 62 comma 600. 2. total direct labor cost for january was $ 63 comma 600. 3. the predetermined manufacturing overhead rate is based on direct labor cost. the budget for the year called for $ 255 comma 000 of direct labor cost and $ 382 comma 500 of manufacturing overhead costs. 4. the only job unfinished on january 31 was job no.​ 151, for which total direct labor charges were $ 5 comma 700 ​(1 comma 000 direct labor​ hours) and total direct material charges were $ 14 comma 400. 5. cost of direct materials placed in production during january totaled $ 123 comma 300. there were no indirect material requisitions during january. 6. january 31 balance in raw materials inventory was $ 35 comma 200. 7. finished goods inventory balance on january 31 was $ 35 comma 400. what is the cost of goods manufactured for​ january

Record the journal entry for the provision for uncollectible accounts under each of the following independent assumptions: a. the allowance for doubtful accounts before adjustment has a credit balance of $500. b. the allowance for doubtful accounts before adjustment has a debit balance of $250. c. assume that octoberʼs credit sales were $70,000. uncollectible accounts expense is estimated at 2% of sales. smith, gaylord n.. excel applications for accounting principles (p. 51). cengage textbook. kindle edition.

Lauer corporation uses the periodic inventory system and has provided the following information about one of its laptop computers: date transaction number of units cost per unit 1/1 beginning inventory 210 $ 910 5/5 purchase 310 $ 1,010 8/10 purchase 410 $ 1,110 10/15 purchase 255 $ 1,160 during the year, lauer sold 1,025 laptop computers. what was cost of goods sold using the lifo cost flow assumption?