Business, 16.10.2020 03:01 DatBoiCedd

On December 31, 2020, Reagan Inc. signed a lease with Silver Leasing Co. for some equipment having a seven-year useful life. The lease payments are made by Reagan annually, beginning at signing date. Title does not transfer to the lessee, so the equipment will be returned to the lessor on December 31, 2026. There is no purchase option, and Reagan guarantees a residual value to the lessor on termination of the lease. Reagan's lease amortization schedule appears below: Decrease in Outstanding
Dec. 31 Payments Interest Balance Balance
2020 $410,442
2020 $74,700 $74,700 335,742
2021 $74,700 $20,145 54,555 281,187
2022 $74,700 16,871 57,829 223,358
2023 $74,700 13,401 61,299 162,059
2024 $74,700 9,724 64,976 97,083
2025 $74,700 5,825 68,875 28,208
2026 $29,900 1,692 28,208 0
What is the amount of residual value guaranteed by Reagan to the lessor?

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 01:30, rhettperkins

Emil motycka is considered an entrepreneur because

Answers: 2

continue

Business, 22.06.2019 03:00, oliviaberta91

What is the relationship between marginal external cost, marginal social cost, and marginal private cost? a. marginal social cost equals marginal private cost plus marginal external cost. b. marginal private cost plus marginal social cost equals marginal external cost. c. marginal social cost plus marginal external cost equals marginal private cost. d. marginal external cost equals marginal private cost minus marginal social cost. marginal external cost a. is expressed in dollars, so it is not an opportunity cost b. is an opportunity cost borne by someone other than the producer c. is equal to two times the marginal private cost d. is a convenient economics concept that is not real

Answers: 3

continue

Business, 22.06.2019 06:30, henriquetucker

Double corporation acquired all of the common stock of simple company for

Answers: 2

continue

Business, 22.06.2019 22:30, josephinekiim

Luggage world buys briefcases with an invoice date of september 28. the terms of sale are 2/10 eom. what is the net date for this invoice

Answers: 1

continue

You know the right answer?

On December 31, 2020, Reagan Inc. signed a lease with Silver Leasing Co. for some equipment having a...