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Hunter-Best [27]
2 years ago
7

On April 1, 2021, Primer Corp. signs a five-year lease to use office space. The present value of the monthly lease payments is $

100,000. Record the lease. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Business
1 answer:
Nana76 [90]2 years ago
4 0

Answer:

April 1, 2021

Dr. Right to use     $100,000

Cr. Lease Liability $100,000

Explanation:

Lease Liability is recorded at the present value of the future lease cash flows. The lease to use an Asset is a right for which the lessee pays. The right to use is considered as an asset. So it is debited as assets have debit balances. On the other hand a Lease Liability for the same amount is incurred which needs to be adjusted in whole lease period.

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Every year, Johnson Technologies hosts a banquet during which employees are given various awards, such as "safest driver" and "b
Inessa [10]

Answer: Option A

Explanation: In simple words, ethical behavior refers to the behavior which is seen as as morally correct from the perception of the society.

In the given case, Johnson technologies is giving award to their employees based the person skill traits such as safe driving etc. Hence they are awarding their employees for traits that are considered ethical and morally correct in the eyes of law and society.

Thus, from the above we can conclude that the correct option is A.

8 0
2 years ago
Reporting Financial Statement Effects of Bond Transactions Lundholm, Inc., which reports financial statements each December 31,
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Answer:

                            Lundholm, Inc

                            Journal Entries

Date          Account Titles                   Debit          Credit

May 1, 18   Cash                                $500,000

                       Bonds payable                               $500,000

                 (To record the bond issuance)                  

31 Oct, 18  Interest Expenses           $22,500

                 (500000*9%*6/12)

                         Cash                                               $22,500

                 (To record payment of the first semiannual period’s interest)

Nov 1, 19  Bonds payable                  $300,000

                Loss on Bonds                  $3,000

                          Cash                                                $303,000

                 (To record retirement the bonds at 101 on November 1, 2019)

8 0
2 years ago
Chocolates R' Us, Inc is owned equally by Desi and his wife Lucy, each of whom hold 550 shares in the company. Lucy plans to red
soldi70 [24.7K]

Answer:

Chocolates R' Us, Inc.

Family hostility cannot be used as an argument to void the family attribution rules.

Lucy is still legally married to Desi.  What the husband, Desi, therefore, owes, she owes equally despite their separation and her intention to reduce her ownership in their joint company.

Explanation:

Family Attribution Rules:  Section 318 of the Internal Revenue Code says an individual shall be considered as owning the stock owned, directly or indirectly, by or for his spouse and his children, grandchildren, and parents, including legally adopted children.

3 0
2 years ago
The human resource department at Paula's Powerwheels is implementing a number of functional level strategies. These strategies i
katen-ka-za [31]

Answer:

The correct answer is Cost leadership.

Explanation:

Cost leadership are those strategies with which products similar to those of other companies are offered at a lower cost, that is, a certain company is considered to be the lowest cost producer in its industrial sector in order to achieve a differentiation.

At lower prices than its rivals, the leader's position translates into higher returns, however, standard products should not be sold ignoring the basis of product differentiation itself, since, if the customer does not perceive the product as comparable, The company must set very low prices in relation to the competition to achieve sales.

The sources to obtain this type of advantages are varied and depend on the structure of the industrial sector itself, including economies of scale, the use of proprietary technology, preferential access to the raw material, among others.

The cost leadership strategy aims to make a company the leader, rather than several companies struggling to reach that position, as this implies tough rivalry and competition that can have unfavorable consequences for all.

8 0
2 years ago
The renewal probability is assumed to be 60% for a particular lease with 12 months vacant if the lease is not renewed. The expec
RUDIKE [14]

Answer:

(A) ​4.8 months

Explanation:

After the expiration of a lease, a maximum of one third allowance is usually given.

Therefore, The expected vacancy at the end of this lease can be calculated as follows:

The expected vacancy = 60% × 12 × (2 ÷ 3) = 4.8 months

Therefore, the expected vacancy at the end of the lease is 4.8 months.

6 0
2 years ago
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