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-8 RIi..dl 89% 11:07 A X Question On June 30, 2013, FinCo, Inc., leased a warehouse facility from Amazon. The lease agreement calls for FinCO
-8 RIi..dl 89% 11:07 A X Question On June 30, 2013, FinCo, Inc., leased a warehouse facility from Amazon. The lease agreement calls for FinCO to make semiannual lease payments of $840,250 over a 5-year lease term, payable each June 30 and December 31, with the first payment at June 30, 2013. Both company's incremental borrowing rate is 10.0%, used to calculate lease payment amounts. Amazon constructed the warehouse at a cost of $5.8 million. (hint: this is a sales lease agreement) Determine the price at which Amazon is "selling the warehouse at June 30, 2013 Prepare the appropriate journal entries for Amazon at the inception of the lease Prepare the appropriate journal entries for FinCo at the inception of the lease Prepare the appropriate journal entries for Amazon for the 1st payment Prepare the appropriate journal entries for FinCo for the 1st payment: Prepare the appropriate journal entries for Amazon for Dec 31st What impact did this lease have on Amazon's earnings for the year ended December 31, 2013? (Do not use gain/loss) Lance Brothers Enterprises acquired $665,000 of 3% bonds, dated July 1, on July 1, 2018, as a long term investment. Management has the positive intent and ability to hold the bonds until maturity The market interest rate (yield) was 4% for bonds of similar risk and maturity. Lance Brothers paid $585,000 for the investment in bonds and wil receive interest semiannually on June 30 and
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