Business, 26.02.2020 05:43 brandon2222269

Technoid Inc. sells computer systems. Technoid leases computers to Lone Star Company on January 1, 2018. The manufacturing cost of the computers was $18 million. This noncancelable lease had the following terms:

Lease payments: $2,819,901 semiannually; first payment at January 1, 2018; remaining payments at June 30 and December 31 each year through June 30, 2022.
Lease term: 5 years (10 semi-annual payments).
No residual value; no purchase option.
Economic life of equipment: 5 years.
Implicit interest rate and lessee's incremental borrowing rate: 6% semiannually.
Fair value of the computers at January 1, 2018: $22 million.

What is the interest revenue that Technoid would report for this lease in its 2018 income statement?

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 11:00

Acompany that adapts its product mix to meet the needs of a new market is using which of the following global marketing strategies market development diversification strategy product development undiversified

Answers: 3

Answer

Business, 22.06.2019 15:40

The cost of direct labor used in production is recorded as a? a. credit to work-in-process inventory account. b. credit to wages payable. c. credit to manufacturing overhead account. d. credit to wages expense.

Answers: 2

Answer

Business, 23.06.2019 05:30

Scientists developed the first successful human cell culture in vitro (grown in a lab) in the 1950s by removing cancer cells from a woman. this concept has allowed modern scientists to successfully grow organs. which of the following answers bestdetermines why there was success? neurons send a signal to the cell to multiply.a large blood supply to the cell allows enough nutrients for growth.cells are the basic unit of life and thus can regenerate if in a controlled environment.cells cannot reproduce on their own, and the scientist manipulates them to grow.

Answers: 1

Answer

Business, 23.06.2019 11:40

Mandela manufacturing thinks that the best activity base for its manufacturing overhead is machine hours. the estimate of annual overhead costs is $540,000. the company used 1,000 hours of processing for job a15 during the period and incurred actual overhead costs of $580,000. the budgeted machine hours for the year totaled 20,000. what amount of manufacturing overhead should be applied to job a15? $29,000. $540. $580. $27,000.

Answers: 2

Answer

You know the right answer?

Technoid Inc. sells computer systems. Technoid leases computers to Lone Star Company on January 1, 2...

Questions