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olga_2 [115]
2 years ago
8

Minnetonka Company leases an asset. Information regarding the lease:

Business
2 answers:
emmainna [20.7K]2 years ago
6 0

Answer:

D) Finance.

Explanation:

In a financial lease, the lessee must include the leased asset in its balance sheet. Even though the title of the leased asset is transferred after the lease term is over, the lessee must consider the leased asset as its own. The lessee even has to depreciate the leased asset in the same way as it treats similar assets owned by the company.

While the lessee depreciates the leased assets, the lessor must amortize them.

wariber [46]2 years ago
4 0

Answer: The options are given below:

A. Short term.

B. Operating.

C. Long

D. Finance.

The correct option is D. Finance.

Explanation: A finance lease is the kind of lease in which a finance company is the legal owner of the asset throughout the duration of the lease, while the lessee has both operating control over the asset, and some share of the economic risks and returns from the change in the valuation of the underlying asset.

In a finance lease agreement, ownership of the property is transferred to the lessee at the end of the lease term.

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<span>Although the new helmets reduce the probability of head injuries, such an outcome changes the incentives of cyclists by making them less cautious</span>


5 0
2 years ago
Read 2 more answers
Beacon Food Stores purchased canned goods at an invoice price of $4,000 and terms of 2/10, n/30. Half of the goods had been misl
seraphim [82]

Answer:

The amount paid should be $1,600

Explanation:

The terms of 2/10, n/30 means 2% discount for the payment within 10 days and the full amount to be paid within 30 days.

Beacon Food Stores purchased canned goods at an invoice price of $4,000. Half of the goods were returned immediately to the supplier.

The remaining amount of the invoice that Beacon Food needs to pay is $2,000

Beacon Food pays the remaining amount of the invoice within the discount period. The amount of discount the company is offered = $2,000 x 2% = $40

The amount paid = $2,000 - $40 = $1,600

4 0
2 years ago
Imagine that you're a dental hygienist. While cleaning a client's teeth you ask what flavor toothpaste to use and they say "oran
Snowcat [4.5K]

Answer:

A letter.

Explanation:

7 0
2 years ago
Marigold Co. reports the following information for 2020: sales revenue $780,800, cost of goods sold $519,000, operating expenses
siniylev [52]

Answer:

Explanation:

The statement of stockholder's equity comprises common stock and retained earnings. The ending balance after adjustment shown in the attached spreadsheet.  

The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid

And, the ending balance of the common stock = Beginning balance of common stock + issued shares  

Before preparing the statement of stockholders’ equity we need to calculate the net income or net loss as the case may be. The computation is shown below:

Net income = Sales revenue - cost of goods sold - operating expenses

                    = $780,800 - $519,000 - $88,800

                    = $173,000

The preparation of the statement of stockholders’ equity is presented in the spreadsheet. Kindly find the attachment below:

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2 years ago
Melon Lawn Co. advertises its new XJ200 lawn mower. Salespersons describing the XJ200 on behalf of Melon Lawn describe it as a "
kramer

Answer:

<em>c. puffery</em>

Explanation:

Puffery happens when <em>advertisers are trying to encourage people across different techniques to purchase  a product or service.</em>

A business can send an amusing advertisement about its product,  contrast the product to a similar item, mention product details,  or make broad statements about the product that can not be proven to be true.

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