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1. Prepare bare trees company's amortization schedule for the lease liability. Round the amount of the initial lease liability at January 1, 20X1, to the
1. Prepare bare trees company's amortization schedule for the lease liability. Round the amount of the initial lease liability at January 1, 20X1, to the nearest dollar. Round all amounts in the amortization table to the nearest cent.
2. Determine interest and depreciation expense
3. assume that at the end of the lease term, the leased asset will be worth $16,000. what is the gain or loss?
4. assume that at the end of the lease term, the leased asset will only be worth $12,000. what is the gain or loss ?
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