Solved Mike Macinski Leasing Company leases a new machine

Question: Mike Macinski Leasing Company leases a new machine that has a cost and fair value of $95,000 to Sharrer Corporation on a 3-year noncancelable contract. Sharrer Corporation …

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Solved Mike Macinski Leasing Company Leases A New Machine

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Question: Mike Macinski Leasing Company leases a new machine that has a cost and fair value of $95,000 to Sharrer Corporation on a 3-year noncancelable contract. Sharrer Corporation …

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Solved E21-7 (L02.4) (Type Of Lease; Amortization Schedule)

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E21-7 (L02.4) (Type of Lease; Amortization Schedule) Macinski Leasing Company leases a new machine to Sharrer Corporation. The machine has a cost of $70,000 and fair value of $95.000. …

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Macinski Leasing Company Leases A New Machine To Sharrer

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Macinski Leasing Company Leases a new machine to Sharrer Corporation. The machine has a cost of $70,000 and fair value of $95,000. Under the 3 year, non-cancelable contract, Sharrer …

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A. Mike Macinski Leasing Company Leases A New Machine That Has …

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Jan 1, 2014 · Mike Macinski Leasing Company leases a new machine that has a cost and fair value of $87,000 to Sharrer Corporation on a 3-year noncancelable contract. Sharrer …

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Exercise 21-5 Mike Macinski Leasing Company Leases A New …

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Solved Mike Macinski Leasing Company Leases A New Machine

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Jan 1, 2014 · Question: Mike Macinski Leasing Company leases a new machine that has a cost and fair value of $93,400 to Sharrer Corporation on a 3-year noncancelable contract. Sharrer …

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Mike Macinski Leasing Company Leases A New Machine That Has A …

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Jan 1, 2014 · Mike Macinski Leasing Company leases a new machine that has a cost and fair value of $93,700 to Sharrer Corporation on a 3-year noncancelable contract. Sharrer …

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Solved Macinski Leasing Company Leases A New Machine To - Chegg

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Macinski Leasing Company leases a new machine to Sharrer Corporation. The machine has a cost of $70,000 and fair value of $95,000. Under the 3-year, non-cancelable contract, Sharrer …

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Solved Mike Macinski Leasing Company Leases A New Machine

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Mike Macinski Leasing Company leases a new machine that has a cost and fair value of $106,000 to Sharrer Corporation on a 3-year noncancelable contract. Sharrer Corporation agrees to …

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FAQs about Solved Mike Macinski Leasing Company leases a new machine Coupon?

How much is a Mike Macinski Machine worth?

Mike Macinski Leasing Company leases a new machine that has a cost and fair value of $95,000 to Sharrer Corporation on a 3-year noncancelable contract. Sharrer Corporation agrees to assume all risks of normal ownership including such costs as insurance, taxes, and maintenance. The machine has a 3-year useful life and no residual value. ...

How long does a Macinski machine lease last?

Under the 3-year, non-cancelable contract, Sharrer will receive the title to the machine at the end of the lease. The machine has a 3-year useful life and no residual value. The lease was signed on January 1, 2020. Macinski expects to earn an 8% return on its investment, and this implicit rate is known by Sharrer. ...

How to analyze the lease transaction between Macinski leasing company & Sharrer Corporation?

To analyze the lease transaction between Macinski Leasing Company and Sharrer Corporation, we will go through several steps including creating an amortization schedule, and the necessary journal entries. Since the lease is considered a financing lease, we need to calculate the annual lease payments using the implicit interest rate of 8%. ...

How does Macinski calculate lease receivable?

At the commencement of the lease, Macinski would recognize the lease receivable at the present value of future lease payments. The annual lease payments will be calculated again using the 9% rate. The PVIFA for 9% over 3 years is approximately 2.5311. ...

How long does a Macinski machine last?

The machine has a 3 year useful life and no residual value. The lease was signed on January 1, 2017. Macinski expects to earn an 8% return on its investment, and this implicit rate is known by Sharrer. The annual rentals are payable on each December 31, beginning December 31, 2017. ...

Why does Sharrer not know Macinski's implicit rate?

1. Sharrer does not know Macinski's implicit rate (Sharrer's incremental borrowing rate is 9%). 2. Sharrer incurs initial direct costs of $10,000. a. This is because Sharrer Corporation (the lesse) will assume the risks of normal ownership. Maintenance is also not provided by the lessor. ...