Can i please get help with this entire question. i need detailed calculations, explanations and journal entires. thank you

of arn Part A the lease are as roing asset available for use by the lessee on 1 January 2018. The terms of Annual instalments in arrears Guaranteed residual value Unguaranteed residual value Lease term Fair value of underlying asset Lessee's incremental borrowing rate On 15 asset from T Challa ecember 2017, Wakanda Ltd entered into a lease agreement for the lease Ltd. Wakanda Ltd's year-end is 31 December. Assume that the lessor R88 250 R46 000 R5 000 5 years R340 000 13,50% 7 years the lease are as follows: Useful life of the underlying asset Additional information Initial direct costs of R6 500 were incurred by TChalla Ltd and initial direct costs of R3 650 were incurred by Wakanda Ltd. These initial direct costs were paid in cash orn 1 January 2018. 2. Wakanda Ltd paid a non-refundable deposit of R25 000 on 15 December 2017 to 3. Wakanda Ltd accounts for right-of-use assets according to the cost model. 4. Ownership of the underlying asset will not transfer to the lessee at the end of the lease secure the lease. term and the cost of the right-to-use asset does not reflect that the lessee will exercise any purchase option. EQUIRED Marks 2 a. Discuss which date will be regarded as the lease commencement date. D. Calculate the rate implicit in the lease as at the lease commencement date. C Calculate the value of the lease liability and the right-of-use asset, on the lease commencement date. repare the journal entries in the accounting records of Wakanda Ltd, to acount for the lease for the year ended 31 December 2018. 10 21