Assume the same data as in P21.9, with JAL (JPN) having an incremental borrowing rate of 8%.
Question:
Instructions
a. Compute the amount of the initial lease liability.
b. Prepare a 10-year lease amortization schedule.
c. Prepare all of the lessee's journal entries for the first year. Assume straight-line depreciation.
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a Initial Lease Liability Lease payments 40000 X PV of an annuitydue for 10 periods at 8 724689 2898...View the full answer
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Related Book For 
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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