On June 30, 2013, Falk Co. sold equipment to an unaffiliated company for $2,000,000. The equipment had a book value of $1,000,000 and a remaining useful life of 10 years. That same day, Falk leased back the equipment at $12,000 per month for 5 years with no option to renew the lease or repurchase the equipment. Falk rent expense for this equipment or the year ended December 31 2010 should be $96,000 $120 000 $288,000. $72,000Show transcribed image text On June 30, 2013, Falk Co. sold equipment to an unaffiliated company for $2,000,000. The equipment had a book value of $1,000,000 and a remaining useful life of 10 years. That same day, Falk leased back the equipment at $12,000 per month for 5 years with no option to renew the lease or repurchase the equipment. Falk rent expense for this equipment or the year ended December 31 2010 should be $96,000 $120 000 $288,000. $72,000
“Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!”
What Students Are Saying About Us
.......... Customer ID: 12*** | Rating: ⭐⭐⭐⭐⭐"Honestly, I was afraid to send my paper to you, but splendidwritings.com proved they are a trustworthy service. My essay was done in less than a day, and I received a brilliant piece. I didn’t even believe it was my essay at first 🙂 Great job, thank you!"
.......... Customer ID: 14***| Rating: ⭐⭐⭐⭐⭐
"The company has some nice prices and good content. I ordered a term paper here and got a very good one. I'll keep ordering from this website."
