On Jan. 1, 2021, SLP Company leased equipment to another entity. The lease is for an eight-year period expiring Dec. 31, 2028. The first payment of Php900,000 was made on Jan. 1, 2021. SLP Company had previously purchased the equipment for Php4,800,000. The lease is appropriately accounted for as a sales type lease. The PV on Jan. 1, 2021 of all rent payments over the lease term discounted at a 10% interest rate was Php5,280,000.

On Jan. 1, 2021, SLP Company leased equipment to another entity. The lease is for an eight-year period expiring Dec. 31, 2028. The first payment of Php900,000 was made on Jan. 1, 2021. SLP Company had previously purchased the equipment for Php4,800,000. The lease is appropriately accounted for as a sales type lease. The PV on Jan. 1, 2021 of all rent payments over the lease term discounted at a 10% interest rate was Php5,280,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

kai.9
PLEASE ANSWER ASAP
Answer
Determine the value of the single payment on November 8, 2023 that is economically equivalent to a payment stream consisting of: ● a payment of $10,670 on April 3, 2023, . a payment of $9,970 on September 6, 2023, ● a payment of $8,250 on January 31, 2024. Assume a simple interest rate of 3.1%. Apr. 3, 2023 $10,670 FV2 = $ FV1 = $ PV3 = $ Start by calculating the following values on the time diagram: Sep. 6, 2023 Total = $9,970 The single payment on November 8, 2023 is: $ Nov. 8, 2023 + FV2 FV1 + PV3 Total Jan. 31, 2024 $8,250
6. Determine the future worth of PhP 10000 if it is deposited from January 15 to June 20, 2020, if the rate of simple interest is 14 percent. A. 10850.54 B. 10500.50 C. 10700.45 D. 10600.55
7. At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years? А. 6% В. 6.5% C. O 7% D. O 7.5%
At what interest rate will th given principal P earn the given simple interest lin the given term f? 11. P = P175, 000; = 6,500 1 = 5- years 12. P = P50, 000; | = P2, 0; t = 8 mos. 13. P = P180, 000; = P3, 500; 1 = 15 mos. 14. P = P320, 000; | = P7, 000; = 18 mos. 15. P = P2, 050, 00; = P5, 400; † = 2.8 years
Haradev
ests - X þver Reference Reference Present Value of Ordinary Annuity of $1 Present Value of $1 Periods Period 1 Period 2 Period 3 Period 4 Period 5 Period 6 Period 7 Period 8 Period 9 Period 10 0.905 0.820 | 0.744 0.676 0.614 | 0.558 0.508 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% us Period 1 Period 2 Period 3 Period 4 Period 5 0.935 0.952 0.943 0.935 1.859 1.833 1.808 0.926 0.917 0.909 0.893 0.877 0.870 1.783 1.759 1.736 2.577 2.531 2.487 0.990 0.990 0.980 0.971 0.962 | 0.952 0.980 0.961 0.943 0.925 0.907 0.971 0.942 0.915 0.889 0.864 0.961 0.924 0.888 0.855 0.823 0.951 0.906 0.863 0.822 0.784 0.943 0.917 0.909 0.893 | 0.877 0.842 0.826 0.797 0.769 0.772 0.751 0.712 0.675 0.658 | 0.641 0.708 0.683 0.636 | 0.592 0.572 0.552 0.516 0.482 0.650 0.621 0.567 0.980 0.971 0.962 0.862 0.847 0.833 0.926 0.862 0.847 0.833 1.566 | 1.528 2.174 2.106 3.717 3.630 3.546 3.465 3.387 3.312 3.240 3.170 3.037 2.914 2.855 2.798…
What is the rate of interest if P40000 earned interest of P1200 in 140 days? (A) 2% B) 7.82% (c) 7.71% D 2.14%
A4
PLEASE ANSWER ASAP