At the beginning of the year, Robinson County acquired a new storage building under a capital lease agreement.
An initial payment of $700,000 is made to start the lease with four subsequent payments for the same amount at the end of each year starting in late 20X7.
The total lease payment amount for the duration of the lease is $3,500,000.
The present value of the lease at the inception is $3,485,000, including the initial payment. The county borrowed the funds for four years at an annual interest rate of 7%.
At the creation of the lease, the building’s fair value is $3,700,000.
Evaluate the classification of the building as a capital lease. Discuss if this is the proper classification and how you concluded on this classification.
Prepare the journal entries in the capital projects fund, the debt service fund, and the governmental activities journal for the beginning of the lease.
Prepare the journal entries in the debt service fund and governmental activities journal for the end of the initial year payment.
At the end of the initial year, what financial statement(s) would be prepared to show the assets and the liabilities pertaining to the capital lease? What is the total that would be reported in the liability section of this financial statement?
The Paradox of American Power by Joseph S. Nye Distributed: 23rd March, 2015 Last Edited: ninth January, 2018 Disclaimer: This article has been put together by an understudy. This isn't a case of the work composed by our expert exposition scholars. You can see tests of our expert work here. Any feelings, discoveries, conclusions or proposals communicated in this material are those of the writers and don't really mirror the perspectives of UK Essays. Presentation In the book of Joseph S. Nye, "The Paradox of American Power: Why the World's Only Superpower Can't Go It Alone, he demonstrates a total investigation of the components contained in detailing reliable outside approach in the post Cold War world. Nye acquires a relaistic thery for examining the incalculable powers at play. The powers which are successful on the outside approach territories. . This authorization to applicable gatherings, gatherings to talk at a similar dialect. Along these lines, Nye everytime outlines the issues for examination and discussion. Nye specifies about the undeniable disorder in the outside arrangement domain of the lopsided post Cold War. He routinely, consistently and permamently demonstrates a profound bits of knowledge of certainty driven setting. THE AMERICAN COLOSSUS The U.S. have control on the world affiars as never found in the past like since Rome. Globalization wound up like equivalent with the made in US preparations. Be that as it may, this mastery will be countinue or end. Power implies in the outside relations that the ability to impact wanted aftermaths and adjustment the demonstration of others to get this going. Power in here chiefly manages the military and financial power. Furthermore, power can be utilized viably or ineffectually. Hard Power Military power is the most essential component that can quickly turn into an overwhelming enthusiasm as we found in the ongoing occasions. In spite of the fact that countries don't acknowledge the immediate utilization of power, they can enroll to private intermediaries to employ terroist bunches against enemies. Nye notices that these fear based oppressor bunches is like privateers which were packed by British Navy in the nineteenth century. For the settling military power can be utilized to settle the shaky connections. For instance in numerous Asian and European states were content with the happening to US military powers for making stabilizate to their condition against to insecure neighbors in usable ways. Monetary power has turned out to be extremely essential for present day states by the impacts of rasing financial targets increments. To expand financial power, a state should obey to showcase rules. In this way, in one sense, present day countries muth dipense with sovereign financial forces to the marketsi f they don't willing to shed an obvious level of their monetary strength and welfare. Autocrats that dont mind the welfare of their nationals can dismiss showcase tenets and scorn at universal authorizations. Military and financial power are sortly yet deftly broke down by Nye in the hard power issue. Delicate Power There are some social, ideological and institutional powers can be considered delicate forces. Maket o individuals belive that they need something all things considered you need that, to coopt natives as opposed to implementing them. Furthermore, that is the thing that delicate power is. Foundations, convictions, and qualities can be set off by delicate power. Delicate power is more than just impact or conviction, its the ability to allure and draw in, whcih can cause to approval or impersonation and can make less demanding to attempts at authority. Delicate power emerges from the residents and in addition from government. Govermental and prominent delicate power effets every others, work independently. Vanity, the possibility of disparity from others, and a nearby way to deal with national intrigue are the components that dissolve the delicate power. Delicate power emerges from the nationals and also from government. Govermental and famous delicate power effets every others, work independently. Vanity, the possibility of error from others, and a nearby way to deal with national intrigue are the elements that disintegrate the delicate power. Distinctive disputes of delicate power is investigates by Nye. Diverse sorts of forces in various kinds of countries, he discusses significance of this. Delicate power components impact particularly in present day countires than in the pre mechanical despotisms states generely in the Africa and the Middle East. There are likewise qualifications in of late industrializing state like China and India. In any case, contemporary monetary and social streams toward rised impact for delicate power components. In the advanced world just military power can't guarantee the achievement. U.S. Initiative Basic adjust of intensity examines separate when delicate power components are expected. Oppositely to adjust of intensity components, the tremendous predominance of US control isn't really driving different states to join against it. The excitative fascination of its delicate power components and its generally pleasant state of mind towards serene countries should keep away from such circumstances if the US doesn't begin to act in a way that development far reaching dismay and cursed thing. After the world war second the countries align themselves to the US against the Soviet Union risk for example; despite the fact that the US was so powerfull around then. That was the Soviet Union which made boundless alarm and horrifying presence. Till latelty, Iraq and Iran concerned more about each other than about the US, albeit them two never like the US. Nye examined that overwhelming force can influence periods of relative peace and make to exchange routes among the significant conditions of the world. Nye truely knows about the requirement for some overwhelming force which is completely acknowledged as a headman to confine and accommodate clashes, balance out overall fund and economy, and urging the found to the alterations and foundation of the establishments fundamental for worldwide administration. The U.S. is excessively solid, making it impossible to be viably tested, yet does not have the ability to alone accomplish such attractive objectives as atomic limitation and the minimization of worldwide fear mongering. In seeking after its remote strategy goals, it needs collaboration and coalitions that require a mind boggling exhibit of bargains and housing. Vanity and one sidedness can undermine the viability of the US control, particularly the cuteness and impacts of its delicate power strategies and leardship style, Nye says. Then again, US key limits is soothingly the open and pluralistic disposition where its outer approach is enhanced decreaces vulnerability and shock and its craving to participate in the method for global governence insurance different states a have a say that ascents the delightfulness of its administration. The part of United States in the egypt-isreali war is that took office in the transitory full took after the Lebanese civl war and endeavored to break out of Kissinger s well ordered process by offering an arrangement for a complete settlement. The Carter design was much similar to the Rogers design. It required a continuous Israeli withdrawal to kto its 1967 boundares with just minor expceptions in return for recogniton, awesome power security ensures, and peaceful areas on the fringes. The Palestinians gradully would get self-assurance in the West Bank and Gaza Strip as a free state,or in alliance with Jordan. Neither the Araps nor the Israelis were prepared for such a trade off, and Carter s claim elaboratiopns on the arrangement gave the two sides a reason to maintain a strategic distance from it. Carter initially said that Israel ought to have "solid outskirts", the code word in the Middle East to accord Israel nuch of the region vanquished in the Six-day War of 1967. Carter attempted t? amend this impression by talking later of just minor outskirt changes and of a Palestinian "country", both hellish cursedness to the Israelis. The Carter design stalled in disarray as the new hard line Israeli organization, headed by Menachem Begin, demanded the privilege to make Jerusalem Israel s capital and plant new Jerwish settlement on the West Bank. Carter endeavored to recover by taking the Soviets back to into the Middle East arrangements. Cyrus Vance and Soviet Foreign Minister Andrei Gromyko worked out a joint explanation on October 1,1977, that called for reconvening the Geneva conferencewithin 3 mounth. There the Arabs and Israelis would arrange a far reaching settlement under the support of the U.S, the Soviet Union, and alternate forces. Quickly Carter keep running into a hail of feedback. Numerous Americans condemned the Geneva approach despite the fact that they had consented to it under coercion. Carter attempts to conciliate his American and Israeli critcs by insisring that America had no aim of forcing a settlement and by consenting to modify the U.S-Soviet comprehension to enable the Israelis to veto the cooperation. Possible difficulties for the United States predominance are reasonably baselined and broke down. China is in consistence with recorded driving as a conceivable asset for some difficulties. Then again, Chinas prudent and miliraty perspective includes such a significant number of existential blockes and impediments for picking up accomplish politically influential nation circumstance, as well as even in disengaging the United States as the prevailing power in the Western Pasific and Southeast Asian districts. Reliance can be shaped of socially, politically and financially. The most effortlessly estimated one of them is monetary reliance. It can be found in branches of exchange, remote guide and direct outside speculation from the center nation. Political depence is generally about with security and outside military asistance. This reliance relations prompt ward remote arrangements Master Core subordinate approach; subordinate states apply the outside arrangements important with the center state's inclines toward. Consistence is a clarification of ace center outside arrangements. Consistence is that reliant states will apply remote approach inside the setting of their lopsided monetary connections. In this circumstance Core states will give th e financial guides and perphery state will act in the remote policiy significant with the center state's inclinations. Periphe>GET ANSWER