lessee entries; capital lease) on january 1, 2008, burke corporation signed a 5-year noncancelable lease for a machine. the terms of the lease called for burke to make annual payments of $8,668 at the beginning of each year, starting january 1, 2008. the machine has an estimated useful life of 6 years. the machine reverts back to the lessor at the end of the lease term. burke uses the straight-line method of depreciation for all of its plant assets. burke's incremental borrowing rate is 10%, and the lessor's implicit rate is unknown.

instructions

(a) what type of lease is this? explain.

(b) compute the present value of the minimum lease payments.

(c) prepare all necessary journal entries for burke for this lease through january 1, 2009

James albemarle created a trust fund at the beginning of 2016. the income from this fund will go to his son edward. when edward reaches the age of 25, the principal of the fund will be conveyed to united charities of cleveland. mr. albemarle specified that 75 percent of trustee fees are to be paid from principal. terry jones, cpa, is the trustee. james albemarle transferred cash of $500,000, stocks worth $400,000, and rental property valued at $250,000 to the trustee of this fund. immediately invested cash of $360,000 in bonds issued by the u.s. government. commissions of $7,900 are paid on this transaction. incurred permanent repairs of $9,000 so that the property can be rented. payment is made immediately. received dividends of $8,000. of this amount, $3,000 had been declared prior to the creation of the trust fund. paid insurance expense of $4,000 on the rental property. received rental income of $10,000. paid $8,000 from the trust for trustee services rendered. conveyed cash of $7,000 to edward albemarle.

Which of the following would indicate an improvement in a company's financial position, holding other things constant? a. the inventory and total assets turnover ratios both decline.b. the debt ratio increases.c. the profit margin declines.d. the times-interest-earned ratio declines.e. the current and quick ratios both increase.

What is the minimum educational requirement for a pediatric psychopharmacologist? a. md b. phd c. bachelors in medicine d. masters in medicine e. psyd