Afinance lease agreement calls for quarterly lease payments of $5,376 over a 10-year lease term, with the first payment on july 1, the beginning of the lease. the annual interest rate is 8%. both the present value of the lease payments and the cost of the asset to the lessor are $150,000.

required:
a. prepare a partial amortization table up to the october 1 payment.
b. what would be the amount of interest expense (revenue) the lessee (lessor) would record in conjunction with the second quarterly payment on october 1?

You are the manager of the packaging department in a cookie factory. (obviously, the packaging employees cannot eat the cookies that are transferred in during the period.) after your employees insert cookies into colorful packages (step 1) for display on store shelves, the packages of cookies are then boxed using cardboard cartons (step 2) for shipment to stores. each unit of product is represented by a carton of packaged cookies. the packaging department began the period with 1,000 units of cookies. during the period, 5,000 units of cookies were transferred in from the baking department and 5,500 units of cookies were transferred out to the finished goods department. the number of units of cookies in the ending inventory of the packaging department equals: