3. On January 1, 2021, Johnstone leased an office building. Terms of the lease require Johnstone to make 10 annual lease payments of $138,000 beginning on January 1, 2021. A 10% interest rate is implicit in the lease agreement. At what amount should Johnstone record the lease liability on January 1, 2021, before any lease payments are made? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 On June 30, 2021, the Johnstone Company purchased equipment from Genovese Corp. Johnstone agre $28.000 on the purchase date and the balance in five annual installments of $5,000 on each June 30 b 2022. Assuming that an interest rate of 10% properly reflects the time value of money in this situation. Required 1 | Required 2 Required 3 On June 30, 2021, the Johnstone Company purchased equipment from Genovese Co $28,000 on the purchase date and the balance in five annual installments of $5,000 2022. Assuming that an interest rate of 10% properly reflects the time value of mon should Johnstone value the equipment? (Round your final answers to nearest whole Table values are based on: n = Amount Present Value Cash Flow Installments Check my work 12 Required 3 Johnstone Company purchased equipment from Genovese Corp. Johnstone agreed to pay Genovese se date and the balance in five annual installments of $5,000 on each June 30 beginning June 30, n interest rate of 10% properly reflects the time value of money in this situation, at what amount the equipment? (Round your final answers to nearest whole dollar amount.) Show less Amount Present Value Prev 1 of 5 Next > ULIC CYPERICE Table values are based on: n=1 Present Value Cash Flow Amount Installments Down Payment Value of the equipment ces Required 1 Required 2 Johnstone needs to accumulate sufficient funds to pay a $580,000 debt that comes due on December 31 will accumulate the funds by making five equal annual deposits to an account paying 5% interest compoi Determine the required annual deposit if the first deposit is made on December 31, 2021. (Round your fi nearest whole dollar amount.) Table or calculator function: Future Value: Annual deposit Prev 1 of 5 ! Next > Check my work cumulate sufficient funds to pay a $580,000 debt that comes due on December 31, 2026. The company ids by making five equal annual deposits to an account paying 5% interest compounded annually. 1 annual deposit if the first deposit is made on December 31, 2021. (Round your final answers to nount.) Show less Check my work On January 1, 2021, Johnstone leased an office building. Terms of the lease require Johnstone to make payments of $138,000 beginning on January 1, 2021. A 10% interest rate is implicit in the lease agree should Johnstone record the lease liability on January 1, 2021, before any lease payments are made? answers to nearest whole dollar amount.) Table or calculator function: Payment: Liability Prev 1 of 5 Next > Check my work hnstone leased an office building. Terms of the lease require Johnstone to make 10 annual lease beginning on January 1, 2021. A 10% interest rate is implicit in the lease agreement. At what amount d the lease liability on January 1, 2021, before any lease payments are made? (Round your final ole dollar amount.) Show less
