Business, 16.04.2021 03:20 mahadsaeed101

Tamarisk Leasing Company signs a lease agreement on January 1, 2020, to lease electronic equipment to Carla Vista Company. The term of the non-cancelable lease is 2 years, and payments are required at the end of each year. The following information relates to this agreement: 1. Carla Vista has the option to purchase the equipment for $24,500 upon termination of the lease. It is not reasonably certain that Carla Vista will exercise this option. 2. The equipment has a cost of $290,000 and fair value of $319,000 to Tamarisk Leasing. The useful economic life is 2 years, with a residual value of $24,500. 3. Tamarisk Leasing desires to earn a return of 5% on its investment. 4. Collectibility of the payments by Tamarisk Leasing is probable.

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Tamarisk Leasing Company signs a lease agreement on January 1, 2020, to lease electronic equipment t...