Business, 01.07.2020 19:01 shy88

On January 1, 2021, Ivanhoe, Inc. signed a 10-year noncancelable lease for a heavy duty drill press. The lease stipulated annual payments of $320,000 starting at the beginning of the first year, with title passing to Ivanhoe at the expiration of the lease. Ivanhoe treated this transaction as a finance lease. The drill press has an estimated useful life of 15 years, with no salvage value. Ivanhoe uses straight-line amortization for all of its plant assets. Aggregate lease payments were determined to have a present value of $1,966,261, based on implicit interest of 10%. In its 2021 income statement, what amount of amortization expense should Ivanhoe report from this lease transaction

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 19:10

The stock of grommet corporation, a u.s. company, is publicly traded, with no single shareholder owning more than 5 percent of its outstanding stock. grommet owns 95 percent of the outstanding stock of staple inc., also a u.s. company. staple owns 100 percent of the outstanding stock of clip corporation, a canadian company. grommet and clip each own 50 percent of the outstanding stock of fastener inc., a u.s. company. grommet and staple each own 50 percent of the outstanding stock of binder corporation, a u.s. company. which of these corporations form an affiliated group eligible to file a consolidated tax return?

Answers: 3

Answer

Business, 22.06.2019 20:50

Many potential buyers value high-quality used cars at the full-information market price of € p1 and lemons at € p2. a limited number of potential sellers value high-quality cars at € v1 ≤ p1 and lemons at € v2 ≤ p2. everyone is risk neutral. the share of lemons among all the used cars that might be potentially sold is € θ . suppose that the buyers incur a transaction cost of $200 to purchase a car. this transaction cost is the value of their time to find a car. what is the equilibrium? is it possible that no cars are sold

Answers: 2

Answer

Business, 22.06.2019 21:50

Labor unions have used which of the following to win passage of favorable laws such as shorter work weeks and the minimum wage? a. strikes b. collective bargaining c. lobbying d. lockouts

Answers: 1

Answer

Business, 22.06.2019 22:20

Who owns a renter-occupied apartment? a. the government b. a landlord c. the resident d. a cooperative

Answers: 1

Answer

You know the right answer?

On January 1, 2021, Ivanhoe, Inc. signed a 10-year noncancelable lease for a heavy duty drill press....

Questions