C15

Sh8 Please help me.

8 Record depreciation for Winn. 9 Record the lease payment for Winn. 10 Record the amortization of the right-of-use asset for Winn. 11 Record depreciation for Winn. Note : = journal entry has been entered Record entry Clear entry it Credit View general journal

Show the solution in good accounting form. Thank you! 1. What amount should be reported as lease liability on December 31, 2020? a. ₱ 2,912,000 b. ₱ 4,680,000 c. ₱ 2,800,000 d. ₱ 4,500,000   2. What is the initial recognition of the right of use asset? a. ₱ 3,000,000 b. ₱ 2,800,000 c. ₱ 4,700,000 d. ₱ 3,112,000   3. What is the carrying value of the right of use asset on December 31, 2021? a. ₱ 2,520,000 b. ₱ 2,666,667 c. ₱ 2,488,889 d. ₱ 2,750,000

The following facts pertain to a non-cancelable lease agreement between Alschuler Leasing Companyand Mckee Electronics, a lesee, for a computer system.

the following facts pertain to a non-cancelable lease agreement between Alschuler leasing company and mcKee Electronics, a leessee,for a computer system.

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Please answer

Oo. 68. Subject ;- Account

Required information [The following information applies to the questions displayed below.] While completing undergraduate school work in information systems, Dallin Bourne and Michael Banks decided to start a technology support company called eSys Answers. During year 1, they bought the following assets and incurred the following start-up fees: Year 1 Assets Purchase Date Basis Computers (5-year) Office equipment (7-year) Furniture (7-year) Start-up costs October 30, Year 1 October 30, Year 1 October 30, Year 1 October 30, Year 1 $16,400 10,000 5,800 19,520 In April of year 2, they decided to purchase a customer list from a company providing virtually the same services, started by fellow information systems students preparing to graduate. The customer list cost $12,520, and the sale was completec on April 30. During their summer break, Dallin and Michael passed on internship opportunities in an attempt to really grow their business into something they could do full time after…

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Question 3 The type of intangible assets in which the right granted by a company or the government to deliver a product or service under specified conditions is termed as: a. Franchises and Licenses Ob. Leaseholds Oc. Leasehold Improvements Od. Copyrights

1. GASB 87 provides a new framework for accounting for leases under the principle that leases are financings. No longer will leases be classified between capital and operating. Lessees will recognize an intangible asset and a corresponding liability. The liability will be based on the payments expected to be paid over the lease term, which includes an evaluation of the likelihood of exercising renewal or termination options in the lease.        The city of El Paso decided to implement early adoption in 2019. It just signs 3 years lease for an office building with a remaining Economic life of 20 years. The building has a fair market value of $555,018 million. Based on an interest rate of 4 percent, annual lease payments are set at $200,000, the amount required to liquidate a $555,018 million, 3 year, 4 percent loan in equal annual installments. Total Liability reported in Government-Wide and Governmental Fund statement respectively for City of El  Paso at  the end of Year 1 will be:…

Access the FASB Accounting Standards Codification at the FASB website (asc.fasb.org). Determine the specific citation for each of the following items: 1. The disclosure requirements in the notes to the financial statements for depreciation on property, plant, and equipment. 2. The criteria for determining commercial substance in a nonmonetary exchange. 3. The disclosure requirements for interest capitalization. 4. The elements of costs to be included as R&D activities.

Please answer it in good accounting form. Thankyou

icerca Dashboard My courses Which of these is an allowable cost of an asset under IAS 16? 1. Professional fees 2. General overheads 3. Cost of site preparation 4. Initial operating losses 5. Administration expenses 6. Decommissioning costs O a. 1, 3 and 6 O b. 1, 3 and 5 O c. 1, 2 and 6 O d. 1, 2 and 4 O Financial Reporting (level 5) (2022_23) t Y ASUS ZenBook Assessment

x means incorrect answer not included in the choices.

Answer the following using the FASB codification

15 When Capitol City makes its annual lease payment on an unpaid lease obligation, the journal entry for the governmental activities accounts will include: Multiple Choice A debit to Lease Obligation Payable. A credit to Lease Obligation Payable. A debit to Lease Expense. A debit to Expenditures-Principal of Lease Obligation.

Sh2 Please help me

4. What is the carrying value of the right of use asset on December 31, 2021? ₱ 2,488,889       ₱ 2,750,000       ₱ 2,520,000       ₱ 2,666,667

help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working

Please answer number 17 only.

Please answer required 21,22 and working note

Problem 6. Sales and Leaseback On Januar y 1 20х1, Entity sold building to Entity and a simultaneously leased it back. Additional information follows : Fair value of building 1,000,000 Carrying amount of building 800,000 Remaining useful life of building 10 years Lease Term 5 years Annual rent payable at the end of each year 100,000 Implicit interest rate equal to market rate 12% The transfer qualifies as a sale. Requirements (Independent cases) : а. If the sales price is P1,000,000 which is equal to fair value compute t he following under the seller-lessee accounting i. Lease liability ii. Right of use Asset iii. Gain or Loss iv. Journal entries on January 1, 20x1 b. If the sales price is P1,000,000 which is equal to fair value compute the following under the buyer-lessor acco unting i. Gross Investment ii. Net Investment iii. Unearned Interest Income iv. Journal entries on January 1, 20x1 c. Same requirements in a and b but the sales price is P1,100,000 which is above the fair value…

E10-1 Inclusion in Property, Plant, and Equipment Guthrie Inc. must determine whether the following items are included in property, plant, and equipment: a. idle equipment awaiting sale b. machinery kept on hand and used only when other machinery breaks c. land held for investment d. the right to publish a literary work e. progress payments on a building being constructed by a contractor f. fully depreciated assets still being used g. expenditures to improve leased property h. equipment leased to others i. purchase of an asset with an expected life of 9 months j. obligation to remove leasehold improvement at the termination of a lease  Required: 1. Indicate which items are included in the cost of property, plant, and equipment and which items are excluded from the cost of property, plant, and equipment. 2. Next Level For each item excluded from property, plant, and equipment, explain why it was excluded.

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