Description of this paper

Interest rates and lease

Description

solution


Question

Immediately after making its annual $10,000 lease payment on June 30, 2009, the last day of its fiscal year, Reebank had an unpaid capital lease obligation of $85,000. The interest rate applicable to the lease is 10 percent. When the $10,000 lease payment due on June 30, 2010 is made, what amount for the governmental activities accounts will include? Show your calculation

 

Paper#17952 | Written in 18-Jul-2015

Price : $22
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