Maurice Tutor


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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: 12 Weeks Ago, 6 Days Ago
Questions Answered: 66690
Tutorials Posted: 66694


    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011


  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 12 Jan 2018 My Price 5.00

Q-Mart accounts

On January 1, 2011, Q-Mart entered into a five-year lease agreement requiring annual payments of $10,000 on December 31 of each year. The fair market value of the facility was estimated by appraisers to be $39,927.

a. Record the journal entries required over the five-year period, assuming that Q-Mart accounts for this arrangement as an operating lease.

b. Compute the effective interest rate on the lease, and record the journal entries required over the five-year period if Q-Mart accounts for this arrangement as a capital lease.

Assume that the capitalized asset is depreciated over a five-year period, using the straightline method with no salvage value.

c. Compare the effects of the two accounting methods on the financial statements. Discuss.




Status NEW Posted 12 Jan 2018 09:01 PM My Price 5.00

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