Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 3 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 26 Sep 2017 My Price 7.00

Manitoba Inc.

Presented below are three different lease transactions that occurred for Manitoba Inc. in 2012. Assume that all lease contracts start on January 1, 2012. In no case does Manitoba receive title to the properties leased during or at the end of the lease term.

   

Lessor

  
 

Farrey Delivery

DiBell Co.

Diederich Auto

Type of property

Computer

Delivery equipment

Automobile

Yearly rental

$ 6,000

$ 4,200

$ 3,700

Lease term

6 years

4 years

2 years

Estimated economic life

7 years

7 years

5 years

Fair value of lease asset

$33,000

$19,000

$11,000

Present value of the lease

      

rental payments

$31,000

$13,000

$ 6,400

Bargain purchase option

None

None

None

Instructions

(a) Which of the leases are operating leases and which are capital leases? Explain.

(b) How should the lease transaction for DiBell Co. be recorded in 2012?

(c) How should the lease transaction for Farrey Delivery be recorded on January 1, 2012?

Answers

Maurice Tutor
(5)
Status NEW Posted 26 Sep 2017 05:09 PM My Price 7.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll

Not Rated(0)