Arena Corp. leased equipment from Bolton Corp. and correctly classified the lease as a finance lease. The present value of the annual lease payments at lease inception was $1,000,000. The present value of the maintenance and service obligations to be paid by Bolton was $50,000, and the fair value of the equipment at lease inception was $900,000. What amount should Arena report as the finance lease obligation at the lease's inception?

Answers

Answer 1
Answer:

Answer:

The correct answer is $900,000

Explanation:

Arena Corp. should record the asset and the lease obligation at the lower of the fair value of the asset at the inception of the lease.

In this case, The fair value is $900,000 and its precise amount to record. Keep in mind that Executory costs aren´t included in the lease obligation.

Answer 2
Answer:

Answer: 1,000,000.00

Explanation:

Arena should report a finance lease obligation at $1,000,000, the present value of the lease payments. The $50,000 executory costs are separate from the lease payments and do not count in the present value calculation. They do not reflect a component of the minimum lease payment. The fair value of the equipment is extra information. The lease liability is based on the present value of the lease payments, not the fair value of the leased asset, even though they are often the same.


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_____ is/are the raw facts and figures businesses collect. Answer Data Information Push technology Warehousing
Which of the following is NOT a chief advantage of mass transit over other forms of transportation?a. Economy. b. Energy conservation. c. Flexible door-to-door service. d. Freedom from car owner responsibilities.
A proven product, established management systems, and customer goodwill are three advantages of _____.a. joining a family business b. starting a new business c. buying a franchise d. working from home Please select the best answer from the choices provided A B C D
Why did early farmers use slash-and-burn agriculture? A. to get rid of pests B. to get rid of old crops C. to keep the soil fertile D. to keep undergrowth from drying out the earth

Which of the following is an example of physical noise? a. loud music at a party b. age difference between two friends c. deafness d. cultural difference

Answers

Noise is anything that interferes with communication.Physical noise is interference that is external to both speaker and listener. Physical noise  hampers the physical transmission of the signal or message.

Loud music at a party is a example of physical noise. Correct answer: A Other example is irritating hum of your computer, air conditioner, or heater.


Answer:

loud music at a party

Explanation:

: Graves Construction is journalizing two transactions related to uncollectible accounts. The first transaction does not affect cash flows, but the second transaction does affect cash flows. If Graves Construction uses the allowance method to account for uncollectibles, which of the following scenarios may pertain to these transactions?

Answers

Answer:

'Bad debts write off' AND 'Recovery of Bad debts written off'

Explanation:

The Journal entry to write off a bad account affects only balance sheet accounts:

a debit to Allowance for Doubtful Accounts and a credit to Accounts Receivable.

No expense or loss is reported on the income statement because this write-off is "covered" under the earlier adjusting entries for estimated bad debts expense.

HOWEVER in scenario 2 where transaction involves a cashflow, it is a bad debt recovered transaction because upon recovery of bad debt previously written off

a debit to CASH and credit to Bad debts recovered account

Answer:

The first transaction should be to write-off of an uncollectible account (or bad debt), while the second transaction refers to the collection of a previously written-off bad debt.

Explanation:

The journal entry to record the write-off of an uncollectible account:

Dr Bad debt expense

    Cr Allowance for uncollectible accounts

Allowance for uncollectible accounts is a contra asset account that reduces accounts receivable.

The journal entries to record the collection of a bad debt:

Dr Accounts receivable

    Cr Bad debts expense

Dr Cash

    Cr Accounts receivable

The collection of the previously written off bad debt increases cash flows.

Which is NOT a career cluster?A.
Agriculture, food and natural resources
B.
Human services
C.
Health sciences
D.
Business, management, and administration

Answers

Answer:

All are career clusters

Explanation:

1. Agriculture, food, and natural resources

The agriculture, food, and natural resources cluster encompass everything associated with the production of agricultural products. Careers' titles in the cluster include farmers, veterinary officers, and scientists.

2. Human services

This cluster includes cosmetologist psychologists, social workers, hairdressers, and other professionals related to human beauty and mental wellness sub-sectors.

3. Health sciences

Professionals in the Health Sciences cluster work in hospitals, chemists, clinics, and patients' homes. They include nurses, doctors, clinicians, pharmacists, paramedics, and healthcare operators.

4. Business, management, and administration

The cluster consists of careers in business-related fields. They include marketers, finance and business analysts, accountants, managers, and HR experts. It also features many junior entry-level positions, like clerks, typists,  secretaries, and front office workers.

Answer:

None, they are all career clusters

Explanation:

I hope this helped buddy.

A monopoly exists when _____ provides a good or service.

Answers

A company controls the market for a good or service

Switch to your low-beam headlights when you are driving within ______ of a vehicle you are following.

Answers

when you are following a car and are within 200-300 feet of it.

What is the following?

That follows or is subsequent in time or order; resulting in the next day. that will now be mentioned, described, related, or in a similar manner; that will now happen: For more information, see the following report.

Make sure your speed allows you to stop or turn if necessary. When you are 500 feet (approximately one block) or less from an approaching vehicle, turn on your low lights. When following another vehicle within 300 feet, you should also activate your low beams. If you are using your high beams while driving, you must turn them off at least 500 feet before any oncoming vehicles to avoid blinding the driver.

Therefore, A car is within 200-300 feet of it.

Learn more about the following here:

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when you are driving within 200-300ft of a vehicle you are following

_____ are rules that prevent the creation and behavior of monopolies.Patents
Competitions
Antitrust laws

Answers

These are called anti trust laws, or competition laws. These laws protect the purchaser from being bullied in their purchases by large companies. Antitrust laws are in the US, while China calls them Anti-monopoly laws, and Europeans call them Competition laws.

antitrust laws..........