Welcome to Top Excellors!

On January 1st, 2008, the Gree

On January 1st, 2008, the Gree.

On January 1st, 2008, the Green Company entered into a lease for a high-tech printing press where Green agreed to make five annual payments of $224,000 beginning December 31st, 2008. They correctly calculated that the PV of the minimum lease payments was $894,000. The lease specified a $1 purchase option so they knew the lessor’s implicit rate of 8%. Green treated this lease as an operating lease, even though they thought that a $1 purchase option was a really good deal!Green’s auditors did not even look at this lease last year. However, at 12/31/09 its new auditors looked closely, and they told Green that this should have been recorded as a capital lease, because the purchase option was a bargain.Prepare the entries that fix this error. Green normally depreciates assets like printing presses over five years. The 2008 books have been closed, but the 2009 books are still open.

On January 1st, 2008, the Gree


15% off for this assignment.

Our Prices Start at $11.99. As Our First Client, Use Coupon Code GET15 to claim 15% Discount This Month!!

Why US?

100% Confidentiality

Information about customers is confidential and never disclosed to third parties.

Timely Delivery

No missed deadlines – 97% of assignments are completed in time.

Original Writing

We complete all papers from scratch. You can get a plagiarism report.

Money Back

If you are convinced that our writer has not followed your requirements, feel free to ask for a refund.