melanyaguirre25
12.08.2020 •
Business
A company signed an operating lease agreement to use office space for 5 years. The company took possession and began to use the building on January 1, Year 1. Annual rent of $24,000 is due on the first day of each year. Assuming an implicit interest rate in the lease of 6%, the present value of the lease payments at the inception of the lease is $107,163. On December 31, Year 3, what amount should the company report as the lease liability balance on its balance sheet
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Ответ:
$22,642
Explanation:
The amount of lease liability that will be reported in the balance sheet on December 31 year 3 can be calculated as follows
Opening Cash payment Outstanding Interest rate Closing
Year 1 $107,163 $24,000 $83,163 $4990 $88,153
Year 2 $88,153 $24,000 $64,153 $3,849 $68,002
Year 3 $68,002 $24,000 $44,002 $2,640 $46,642
Year 4 $46,642 $24,000 $22,642 $1,358 $24,000
Year 5 $24,000 $24,000 - - -
Total liability = $46,642
Non curret = $46,642 - $24,000 =$22,642
The amount of lease liability that will be reported in the balance sheet on 31 December year 3 is $22,642
Ответ:
Apex D. E-tax returns The taxes imposed on goods and services traded online; see e-commerce. The taxes imposed on information technology products ("digital" goods and services)