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    brittenknee's Avatar
    brittenknee Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 20, 2015, 12:11 PM
    Interest revenue
    on January 1, 2013, Princess Corporation leased equipment to King Company. The lease term is 12 years. The first payment of $694,000 was made on January 1, 2013. The equipment cost Princess Corporation $5,298,400. The present value of the minimum lease payments is $5,648,400. The lease is appropriately classified as a sales-type lease. Assuming the interest rate for this lease is 8%, how much interest revenue will Princess record in 2014 on this lease? (Round your answer to the nearest dollar.)

    on January 1, 2013, Princess Corporation leased equipment to King Company. The lease term is 12 years. The first payment of $694,000 was made on January 1, 2013. The equipment cost Princess Corporation $5,298,400. The present value of the minimum lease payments is $5,648,400. The lease is appropriately classified as a sales-type lease. Assuming the interest rate for this lease is 8%, how much interest revenue will Princess record in 2014 on this lease? (Round your answer to the nearest dollar.)
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    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
    		  
    #2

    Apr 20, 2015, 12:21 PM
    What do YOU think ?
    While we're happy to HELP we wont do all the work for you.
    Show us what you have done and where you are having problems..
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