202005081347396000972955 Pertemuan 4 Materi & Tugas - Microsoft Word (Product Activation Failed) Mags Reviw Virw eferences A EN 21 S . et T Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle .A. E . Paragraph Rand Medical manufactures lithotripters Lithotripsyuses shock waves instead of surgery to eliminate kidney stones Physicians' Leasing purchased a lithotripfer from Randfor $2,000,000 and leased it to Mid-South Urologists Group Inc, on January 1, 2016 Lease Description: Quarterly lease payments $130,516-beginning of each period Lease term 5 years (20 quarters) No residual value, no Bargain Purchase Options Economic life of lithotripter 5 years Implicit interest rate and lessee's incremental borrowing rate 12% Fair value of asset 52,000,000 Collectability of the lease payments is reasonably assured, and there are no lessor costs yet to be incurred Required A B How should this lease be dassified by Mid-South Urologists Group and by Physicians' Leasing? Prepare appropriate entries for both Mid-South Urologists Group and Physicans Leising from the inception of the lease through the second rent payment on April 1, 2016. Depreciation is recorded at Dhe end of each fiscal year December 31) Assume Mia South Urologists Group leased the thotricter directly from the manufacturer Rand Medict which produced the machine at a cost of $17 million Prepare appropriate entries for Rand Medical from the inception of the lease through the second lease payment on April 2016 C