ACC2363_BE 20-15

Please answer in good accounting form. Thank you! 1. On September 1, 2021, AYE Company entered into one-year nonrenewable lease, commencing on that date, for an office space and made the following payments to XYZ Properties:• Bonus to obtain lease - ₱ 120,000• First month’s rent - ₱ 40,000• Last month’s rent - ₱ 40,000The lease is considered “Short-term lease” in its income statement for the year ended Dec. 31, 2021.  What amount should AYE report as rent expense for the year ended, December 31, 2021? 2. On January 1, 2021, BEE Corporation signed a 3-year operating lease for various office furniture and equipment at ₱300,000 per year. The lease included a provision for additional rent of 5% of annual company sales in excess of ₱2,000,000. BEE’s sales for the year ended Dec. 31, 2021 were ₱2,500,000. Upon execution of the lease, BEE Corporation paid ₱100,000 as a bonus for the lease What is BEE’s rent expense for the year ended December 31, 2021 if the lease is considered a “Low…

How much should Thelma report as net investment in lease on December 31, 2022 statement of financial position?  a. P 291,049 b. P 320,154 c. P 321, 049 d. P 331, 049   please explain the answer and provide the solution in good accounting form.

1. What is the rent revenue for the year ended June 30, 2022? 2. On June 30, 2023, what amount should be reported as accrued rent receivable?

sharad

please show the calculations especially the wrong ones.

Questions attched. Please answer Question 2, 3 and 5a,b,c,d,e show workings.

Help Save & Ex On September 30, 2024, Truckee Garbage leased equipment from a supplier and agreed to pay $140,000 annually for 15 years beginning September 30, 2025. Generally accepted accounting principles require that a liability be recorded for this lease agreement for the present value of scheduled payments. Accordingly, at inception of the lease, Truckee recorded a $1,405,261 lease liability. Required: Determine the interest rate implicit in the lease agreement. Note: Use tables, Excel, or a financial calculator. Round your answer to 1 decimal place. (FV of $1, PV of $1, EVA of $1, PVA of $1, EVAD of $1 and PVAD of $1) Interest rate implicit %

Questions attached. Please show workings, thank you.

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Alpesh

On July 1, 2018, Gee Company leased a delivery truck from Marr Company under a 3-year operating lease. Total rent for the term of the lease will be P360,000 payable as follows: 12 months at P5,000= P60,000 12 months at P7,500= 90,000 12 months at P17,500= 210,000 All payments were made when due. a. What is the rent revenue for the year ended June 30, 2019? b. On June 30,2020, what amount should be reported as accrued rent receivable?

On April 1, 2021, Primer Corp. signs a five-year lease to use office space. The present value of the monthly lease payments Is $100,000. Record the lease. (If no entry Is requlred for a particular transaction/event, select "No Journal Entry Requlred" in the first account fleld.) View transaction list Journal entry worksheet 1 Record the lease. Note: Enter debits before credits. Date Account Title Debit Credit April 01, 2021 Record entry Clear entry View general journal

Subject :- Accounting

Help Save & Exit Submit On June 30, 2021, Elle Company leased a machine from Fyre Leasing. The contract requires Elle to make semiannual lease payments of $243,073 over a four-year lease term, payable each June 30 and December 31, with the first payment at June 30, 2021. Elle's incremental borrowing rate is 12%, the same rate used to calculate lease payment amounts. Depreciation is recorded on a straight-line basis at the end of each fiscal year. Fyre constructed the machine at a cost of $1,340,000. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Determine the price at which Fyre is "selling" the machine (present value of the lease payments) at June 30, 2021. 2. What would be the amounts related to the lease that Fyre would report in its balance sheet at December 31, 2021? (Ignore taxes.) 3. What would be the amounts related to the lease that Fyre would report in its income statement for the year…