Rondelli Company entered into an agreement to lease 12 computers from Estes Electronics Inc. The present value
Question:
Rondelli Company entered into an agreement to lease 12 computers from Estes Electronics Inc. The present value of the lease payments is $186,300. Assuming that this is a capital lease, what entry would Rondelli Company make on the date of the lease agreement? Discuss.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 46% (13 reviews)
In a capital lease agreement the lessee record...View the full answer
Answered By
Sumit sardesai
I have qualified UGC NET/ JFR in Dec 2011 and I have done MBA with Marketing and HR and also done BBA.. About my experience , I have approx 8 years of experience in which I have 6 years of teaching experience and 2 year corporate experience ... So , I can easily understood the students situation to ask question and I can justify that Answer with practical examples...
0.00
0 Reviews
10+ Question Solved
Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Accounting questions
-
Costello Company entered into an agreement to lease 12 computers from Estes Electronics Inc. The present value of the lease payments is $186,300. Assuming that this is a capital lease, what entry...
-
Palmer Company entered into an agreement to lease 12 computers from Wendt Electronics Inc. The present value of the lease payments is $186,300. Assuming that this is a capital lease, what entry would...
-
Palmer SA entered into an agreement to lease 12 computers from Wendt Electronics. The present value of the lease payments is 186,300. Assuming that this is a finance lease, what entry would Palmer...
-
Evaluate each expression if possible. -V0.49
-
The Pier Ten Company, a U.S. company, made credit sales to four customers in Asia on September 15, 2015, and received payment on October 15, 2015. Information related to these sales is as follows:...
-
A function is given by a table of values, a graph, a formula, or a verbal description. Determine whether it is one-to-one. g() = 3
-
Outline the effects on the market rate of interest and the welfare implications for borrowers and savers of (a) an increase in desired savings and (b) an increase in desired investment.
-
At December 31, 2011, Marquis Corporation had 100,000 shares of common stock issued and outstanding, 60,000 of which had been issued and outstanding throughout the year and 40,000 of which had been...
-
What are the six C's of the practice of Supervision Modelling?
-
A surface profile is sinusoidal with wavelength and maximum amplitude of unity. The profile is sampled at equal intervals, with the origin on the center line at a position of zero amplitude. (a)...
-
Clooney Company rents a warehouse on a month-to month basis for the storage of its excess inventory. The company periodically must rent space when its production greatly exceeds actual sales. What is...
-
Did PepsiCo redeem any of its debt during the fiscal year ended December 29, 2007?
-
Find for each of the given trigonometric functions. Assume is an acute angle. Round off results. cot = 7.117
-
Compose a message to me reflecting on what you learned about your own business speaking skills. The message needs to answer the following questions: 1. what do you think makes the best speaker? (top...
-
Read the case study regarding Raylene. Who should the educator report this to? Case Study Raylene has been demonstrating sexualised behaviour at the Service. She habitually displays sexual themes in...
-
Provide one interesting article or video stream that fits in with your answer to the questions posed. Look at the following information related to the movie A Civil Action starring John Travolta,...
-
Mr. A is an investor having a put option which equals 108 shares, the exercise price and the premium are $70 and $4 respectively. Mr. A wants to know the net gain if the current market price is $108...
-
A growing share of health insurance plans have high deductibles, so that an individual must spend up to $6,450 before insurance begins to pay for services. What problem(s) are these insurance plans...
-
Write a function that reads a Float24_t value: Float24_t float24_read(void) A legitimate float24 value string is of the form: "mantissabexponent" where the mantissa (m) and the exponent (e) may have...
-
A hospital patient is required to have at least 84 units of drug A and 120 units of drug B each day (assume that an overdose of either drug is harmless). Each gram of substance M contains 10 units of...
-
Condensed financial data of Cipra Inc. follow. Additional information: 1. New plant assets costing $100,000 were purchased for cash during the year. 2. Old plant assets having an original cost of...
-
Data for Cipra Inc. are presented in P12-9A. Further analysis reveals that accounts payable pertain to merchandise creditors. Instructions Prepare a statement of cash flows for Cipra Inc. using the...
-
The comparative balance sheets for Mercado Company as of December 31 are presented below. Additional information: 1. Operating expenses include depreciation expense of $42,000 and charges from...
-
Subtract and simplify: 5x-6x+2-(-2-x+2x)
-
In order to value a company, you would need to forecast its future (a key word here) free cash flows. How would you approach this task? Using downloaded real data, try to make the forecast and see,...
-
share five (5) pieces of advice you would give the class about personal financial planning. Explain each. You might go back and look at the introductions in the first discussion for a general,...
Study smarter with the SolutionInn App