Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. technoid inc sells compoter systems. technoid leas

Technoid inc sells compoter systems. Technoid leases computers to Lone Star Company on January 1,2021...

70.2K

Verified Solution

Question

Accounting

image
Technoid inc sells compoter systems. Technoid leases computers to Lone Star Company on January 1,2021 . The manufacturing cost of the computers was $17 million. This noncancelable lease had the following termis: - Lease payments: \$2,691,724 semiannually, first payment at January 1, 2021, remaining payments at June 30 and December 31 each year through June 30,2025 . - Lease term: 5 years (10 semiannual payments) - No residual value; no purchase option - Economic life of equipment: 5 years. - Implicit interest rate and lessee's incremental borrowing rate: 6.5 semiannually. - Fair value of the computers at January 1, 202t: 521 million. What is the outstanding bolance of the lease liability in Lone Star's June 30,2021 , balance sheet? (Round your answer to the nearest whole dollar.) Mutiple Crioice 5.715.049. $15,715.058

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

Indicate the concentration of each ion present in the solution formed by mixing the following. (Assume...

Chemistry
Q

1. Find the total amount due on the invoice. Round answer to the nearest cent. Taxable Sale Sales Tax...

Accounting
Q

5 ATG GGA GTC TTG ATT TAA 3 Consider the following scenarios separately and write...

Biology
Q

ATP energizes the sliding process actin and myosin interact by the sliding filament mechanism the...

Biology
Q

Square RSTU is shown below with a line AB drawn through its center If the...

Geometry
Q

Find the exact value of cos ?/3 in simplest form with a rational denominator.

Basic Math
Q

The Mendez family is going to see a play.Adult tickets cost $9 and children's ticketscost...

Basic Math
Q

3 Use transformations to graph the function b x a The parent function of b...

Calculus
Q

The work for this part of the exam must be complete on Excel...

Accounting
Q

Madison Inc. uses a job-order costing for its brand new line of sewing machines. The...

Accounting
Q

1. Using information in the 2016 preliminary adjusted trial balance (attached), prepare the adjusting journal...

Accounting
Q

Requirments: 1) Do GENERAL JOURNAL 2) Do GENERAK LEDGER 3) Do TRIAL BALANCE 4)...

Accounting