Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. i have no idea what is wrong in my answers. can yo

I have no idea what is wrong in my answers. Can you fix my answers?...

70.2K

Verified Solution

Question

Accounting

I have no idea what is wrong in my answers. Can you fix my answers? The red box is wrong answers.
image
image
image
Exercise 21A-1 a Your answer is partially correct. Try again. Tamarisk enters into an agreement with Traveler Inc. to lease a car on December 31, 2016. The following information relates to this agreement The term of the non-cancelable lease is 5 years with no renewal or bargain purchase option. The remaining economic life of the car is 3 years, and it is expected to have no residual value at the end of the lease termm 2. The fair value of the car was $15,540 at commencement of the lease 3. Annual payments are required to be made on December 31 at the end of each year of the lease, beginning December 31, 2017, The first payment is to be of an amount of $5,752.82, with each payment ncreasing by a constant rate of 5% fro m the previous payment a Tamarisk' incremental borrowing rate is 8%. The rate implicit in the lease is unknown. Tamarisk uses straight-line depreciation for all similar cars the second payment will be s6,040 46 and the third and final pay ent wil be So,M2AB 4

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Considering the job description and job specification, what would you pay the incumbent of this position? What...

General Management
Q

When two populations of the same species are divided physically and no longer able to...

Biology
Q

The primary function of the circulatory system The primary function of the circulatory system of...

Biology
Q

2 Express 1 414 1 414414414 as the ratio of two integers

Basic Math
Q

In a poll 51 of the people polled answered yes to the question Are you...

Statistics
Q

Express the confidence interval 80 4 8 6 in interval form Express the answer in...

Statistics
Q

Minor 1st fight 66 points Minor 2nd fight 64 points Minor TB Round 1 66...

Algebra
Q

Complete el Accounting Worksheet. [CHANGE IN EQUITY Diferencia entre activos y pasivos] Worksheet...

Accounting
Q

How does accounting impact your life, and why is accounting important to all of us?

Accounting
Q

Check my work Magic Realm, Incorporated, has developed a new fantasy board game. The company...

Accounting
Q

(Related to Checkpoint 5.2) (Compound interest with non-annual periods) You just received a bonus of...

Finance
Q

Oil prices and airlines stock prices tend to have a strong negative correlation (planes burn...

Finance