On january 1, 2017, seven wonders inc. signed a five-year noncancelable lease with moss company. the lease calls for five payments of $277,409.44 to be made at the end of each year. the leased asset has a fair value of $1,200,000 on january 1, 2017. seven wonders cannot renew the lease, there is no bargain purchase option, and ownership of the leased asset reverts to moss at the lease end. the leased asset has an expected useful life of six years, and seven wonders uses straight-line depreciation for financial reporting purposes. its incremental borrowing rate is 12%. moss’s implicit rate of return on the lease is unknown. seven wonders uses a calendar year for financial reporting purposes. both companies use asc 840 to account for leases. use tables (pv of 1, pvad of 1, and pvoa of 1) (use the appropriate factor(s) from the tables provided.) required: prepare an amortization schedule for the lease liability. prepare the journal entry to record. the lease as a capital lease on january 1, 2017. the lease payments on december 31, 2017 and 2018. the leased asset’s depreciation in 2017 and 2018. what is the total amount of expense reported on seven wonders’ 2017 income statement from the lease?

The owners of backstreets italian restaurant are considering starting a delivery service forpizza and their other italian dishes in the small college town where they are located. theycan purchase a used delivery van and have it painted with their name and logo for $21,500.they can hire part-time drivers who will work in the evenings from 5 p.m. to 10 p.m. for$8 per hour. the drivers are mostly college students who study at the restaurant when theyare not making deliveries. during the day, there are so few deliveries that the regular employeescan handle them. the owners estimate that the van will last 5 years (365 days per year)before it has to be replaced and that each delivery will cost about $1.35 in gas and othermaintenance costs (including tires, oil, scheduled service, they also estimate that onaverage each delivery order will cost $15 for direct labor and ingredients to prepare andpackage, and will generate $34 in revenue.a. how many delivery orders must backstreets make each month in order for the service to break even? b. the owners believe that if they have approximately the break-even number of deliveries during the week, they will at least double that number on fridays, saturdays, and sundays. if that’s the case, how much profit will they make, at a minimum, from their delivery service each month (4 weeks per month)?

Which of the following is considered part of a country’s infrastructure?

Which of the following is the best example of substitution? a. movie producers begin making more comedies because they cost less to make than action films. b. people walk out before the end of a movie because the acting and the plot are terrible. c. people at the movie theater switch from popcorn to candy because popcorn has gotten too expensive. d. more people begin going to matinee movies instead of night movies to save money on the tickets.