Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
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Education

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

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 21 Mar 2018 My Price 6.00

Mike Macinski Leasing Company

(Type of Lease; Amortization Schedule) Mike Macinski Leasing Company leases a new machine that has a cost and fair value of $95,000 to Sharrer Corporation on a 3-year noncancelable contract. Sharrer Corporation agrees to assume all risks of normal ownership including such costs as insurance, taxes, and maintenance. The machine has a 3-year useful life and no residual value. The lease was signed on January 1, 2014. Mike Macinski Leasing Company expects to earn a 9% return on its investment. The annual rentals are payable on each December 31.

 

Instructions

(a) Discuss the nature of the lease arrangement and the accounting method that each party to the lease should apply.

(b) Prepare an amortization schedule that would be suitable for both the lessor and the lessee and that covers all the years involved.Hello Sir/Madam

Thank You for using our website and acquisition of my posted solution.Please ping me on
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Answers

Maurice Tutor
(5)
Status NEW Posted 21 Mar 2018 04:03 AM My Price 6.00

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