portion of the equipment purchase. It w al end-of-year payments (see loan deta Payment FoY
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- Question 1: (Continued) (b) Construct an amortization schedule by completely filling in the table below. Only show the necessary work for payment period #1 in the space below the table. No need to show work for all payment periods, just the first. Payment Number Amount Paid (PMT) Outstanding Principal Interest Paid Principal Repaid Balance 0 $20,000 1 2 3 4 5 6The table shows the new table of amortization from 2023 to 2029. Please help me understand where the 3,312,548 came from? what is the calculation? thank youUse the same information in above, How much is the rental income to be recognized in the 2012 statement of comprehensive income of the buyer-lessor? a. P600,000 b. P329,272 c. P300,000 d. P270,728
- $100,000 x 4.79079* = Lease Payments $479,079 Right-of-Use Asset *Present value of an annuity due of $1: n = 6,i = 10%Indicate the tramsaction prie for this situation and when revenue will be recognized Groupo sels goods to Magnus for $500,000 payment due in two installments first installment payable in 18 months and the second paymend due 6 months later. The present value of the future payments is $464,000 O $500.000 recognized at the point of sale O $464.000 reciognized at the point of sale and recognized interest revenue over the payment period O $500.000 recognize $250,000 in 18 months and $250,000 recognized 6 months later $500.000 recognize $464 000 revenue and $36.000 of interest revenueFor questions related to the LESSEE (COMPLICATION, INC.), assume that they employ the STRAIGHT-LINE METHOD OF DEPRECIATION. Use the Present Value Factors as is (straight from the calculator, no rounding), round off final answers to the NEAREST WHOLE NUMBER.(1) LEASE LIABILITY ON JANUARY 1, 20X1 (2) RIGHT-OF-USE ASSET ON JANUARY 1, 20X1 (3) TOTAL Finance Income OVER THE LEASE TERM
- Thrasher Construction Co. was contracted to construct a building for $1,045,000. The building is owned by the customer throughout the contract period. The contract provides for progress payments. Thrasher's accounting year ends 31 December. Work began under the contract on 1 July 20X5, and was completed on 30 September 20X7. Construction activities are summarized below by year: 20X5 Construction costs incurred during the year, $192,600; estimated costs to complete, $674,100; progress billings during the year, $163,500; and collections, $149,800. 20x6 Construction costs incurred during the year, $481,500; estimated costs to complete, $203,300; progress billing during the year, $409,100; and collections, $406,600. 20X7 Construction costs incurred during the year, $209,000. Because the contract was completed, the remaining balance was billed and later collected in full per the contract. Required: 1. Prepare Thrasher's journal entries to record these events. Assume that percentage of…Please Do not Give image format and Details answerSubject - account
- Help6. On August 1, 2012, Gabriel Company leased a machine to Baby Company for a six-year period requiring payments of P100,000 at the beginning of each year. The machine cost P480,000, which is the fair value at the lease date, and has a useful life of eight years with no residual value. Gabriel's implicit interest rate is 10% and present value factors are rounded off to three decimal places. Gabriel appropriately recorded the lease as a direct financing lease. /On 1.1 2016 YZ company leased Equipment from ABC company, the fair value of Equipment OMR680496 and useful life of it 5 years without residual value, the lessee paid rental payments of OMR123000 at the beginning of each year. The lessee's incremental borrowing rate 12%. The balance on 1/1/2016 should be: Select one: a. OMR373594 O b. OMR123000 c. None of the options d. OMR474245