On january 1, 2018, majestic mantles leased a lathe from equipment leasing under a finance lease. lease payments are made annually. title does not transfer to the lessee and there is no purchase option or guarantee of a residual value by majestic. portions of the equipment leasing’s lease amortization schedule appear below: jan. 1 payments effective interest decrease in balance outstanding balance 233,828 2018 23,500 0 23,500 210,328 2018 23,500 18,930 4,570 205,758 2019 23,500 18,518 4,982 200,776 2020 23,500 18,070 5,430 195,346 2021 23,500 17,581 5,919 189,427 2022 23,500 13,691 9,809 179,618 2023 23,500 12,808 10,692 168,926 — — — — — — — — — — — — — — — 2035 23,500 5,354 18,146 41,339 2036 23,500 3,721 19,779 21,560 2037 23,500 1,940 21,560 0 required: what is majestic’s lease liability at the beginning of the lease (after the first payment)

Exercise 4-6 the following balances were taken from the books of alonzo corp. on december 31, 2017. interest revenue $86,000 accumulated depreciation—equipment $40,000 cash 51,000 accumulated depreciation—buildings 28,000 sales revenue 1,380,000 notes receivable 155,000 accounts receivable 150,000 selling expenses 194,000 prepaid insurance 20,000 accounts payable 170,000 sales returns and allowances 150,000 bonds payable 100,000 allowance for doubtful accounts 7,000 administrative and general expenses 97,000 sales discounts 45,000 accrued liabilities 32,000 land 100,000 interest expense 60,000 equipment 200,000 notes payable 100,000 buildings 140,000 loss from earthquake damage 150,000 cost of goods sold 621,000 common stock 500,000 retained earnings 21,000 assume the total effective tax rate on all items is 34%. prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (round earnings per share to 2 decimal places, e. g. 1.48.)

At december 31, 2016, pina corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,810 shares $10,781,000 common stock, $5 par, 4,026,000 shares 20,130,000 during 2017, pina did not issue any additional common stock. the following also occurred during 2017. income from continuing operations before taxes $21,950,000 discontinued operations (loss before taxes) $3,505,000 preferred dividends declared $1,078,100 common dividends declared $2,300,000 effective tax rate 35 % compute earnings per share data as it should appear in the 2017 income statement of pina corporation

Which best describes what financial planning skills ultimately enable an individual to do? to prepare for the future to determine lifetime income to determine the cost of living to learn from the past