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b. Prepare a schedule of the lease liability for the first two years of the lease term: - Note: Round each amount in the schedule
b. Prepare a schedule of the lease liability for the first two years of the lease term: - Note: Round each amount in the schedule to the nearest whole dollar. Use the rounded amount for later calculations in the schedule. uncerta nties surroundrg the lease payments to be made by Kregor. The implicit rate of the lease is 7 , known by Kregor Construction Requited a. How woula Kreisar Construction classify the lease? c. Prepare a schedule of the right-of-use asset for the first two years of the lease term. - Note: Round each amount in the sciredule to the nearest whole dollar. Use the rounded amount for later calculations in the schedule Cash Initial Direct Cost Inventory Prepaid Maintenance Expense Equipment Accumulated Depreciation Lease Receivable Right-of-Use Asset Accrued Legal Expense Deferred Lease Revenue Deposit Liability Lease Incentive Payable Lease Liability Sales Revenue Interest Revenue Lease Revenue Cost of Goods Sold Amortization Expense Depreciation Expense Interest Expense Lease Expense Loss on Lease Selling Expense d. Prepare the entries for Kregor Construction on January 1 and December 31 for the first two years of the lease term, assuming its accounting year ends December 31 , - Note: Round your answers to the nearest whole dollar
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