Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can you add the fully excel equation Amortization schedule sensitivity begin{tabular}{|c|c|c|c|c|} hline Lease Term (in years) & 3 & & & hline quarterlyrentalpayments(paidatthebeginningofeachquarter) &

can you add the fully excel equation
image text in transcribed
image text in transcribed
Amortization schedule sensitivity \begin{tabular}{|c|c|c|c|c|} \hline Lease Term (in years) & 3 & & & \\ \hline quarterlyrentalpayments(paidatthebeginningofeachquarter) & $30,000 & & & \\ \hline Effective interest rate & 12% & & & \\ \hline \multicolumn{5}{|l|}{ Present value of lease payments } \\ \hline & & & & \\ \hline \multicolumn{5}{|l|}{ Prepare the lease amortization schedule. } \\ \hline Payment Date & LeasePayments & EffectiveInterest & DecreaseinBalance & Lease Balance \\ \hline \multicolumn{5}{|l|}{01/01/Y1} \\ \hline \multicolumn{5}{|l|}{04/01/Y1} \\ \hline \multicolumn{5}{|l|}{07/01/Y1} \\ \hline \multicolumn{5}{|l|}{10/01/Y1} \\ \hline \multicolumn{5}{|l|}{01/01/Y2} \\ \hline \multicolumn{5}{|l|}{04/01/Y2} \\ \hline \multicolumn{5}{|l|}{07/01/Y2} \\ \hline \multicolumn{5}{|l|}{10/01/Y2} \\ \hline \multicolumn{5}{|l|}{01/01/Y3} \\ \hline \multicolumn{5}{|l|}{04/01/Y3} \\ \hline \multicolumn{5}{|l|}{07/01/Y3} \\ \hline \multicolumn{5}{|l|}{10/01/Y3} \\ \hline \multicolumn{5}{|l|}{ total } \\ \hline \multicolumn{5}{|c|}{ Based on the amortization schedule, please answer the following questions. } \\ \hline \multicolumn{5}{|c|}{ Q1: what is the lessee's lease expense in Y1 if this is an operating lease? } \\ \hline & & & & \\ \hline Q2: what is the lessee's interest expense & in Y1 if this is an opera & rating lease? & & \\ \hline & & & & \\ \hline \end{tabular} Q3: what is the lessee's amortization expense related to the right-of-use assets in Y1 if this is an operating lease? Q4: what is the lessee's amortization expense related to the right-of-use assets in Y3 if this is an operating lease? Q5: Prepare the journal entry for the lessor on 01/01/Y1 if this is an operating lease. Q6: Prepare the journal entry for the lessor on 04/01/Y2 if this is an operating lease (no need to record depreciation exp Q7: Prepare the journal entry for the lessor on 04/01/Y2 if this is a sales-type lease. Amnrtization cehadila Amortization schedule sensitivity \begin{tabular}{|c|c|c|c|c|} \hline Lease Term (in years) & 3 & & & \\ \hline quarterlyrentalpayments(paidatthebeginningofeachquarter) & $30,000 & & & \\ \hline Effective interest rate & 12% & & & \\ \hline \multicolumn{5}{|l|}{ Present value of lease payments } \\ \hline & & & & \\ \hline \multicolumn{5}{|l|}{ Prepare the lease amortization schedule. } \\ \hline Payment Date & LeasePayments & EffectiveInterest & DecreaseinBalance & Lease Balance \\ \hline \multicolumn{5}{|l|}{01/01/Y1} \\ \hline \multicolumn{5}{|l|}{04/01/Y1} \\ \hline \multicolumn{5}{|l|}{07/01/Y1} \\ \hline \multicolumn{5}{|l|}{10/01/Y1} \\ \hline \multicolumn{5}{|l|}{01/01/Y2} \\ \hline \multicolumn{5}{|l|}{04/01/Y2} \\ \hline \multicolumn{5}{|l|}{07/01/Y2} \\ \hline \multicolumn{5}{|l|}{10/01/Y2} \\ \hline \multicolumn{5}{|l|}{01/01/Y3} \\ \hline \multicolumn{5}{|l|}{04/01/Y3} \\ \hline \multicolumn{5}{|l|}{07/01/Y3} \\ \hline \multicolumn{5}{|l|}{10/01/Y3} \\ \hline \multicolumn{5}{|l|}{ total } \\ \hline \multicolumn{5}{|c|}{ Based on the amortization schedule, please answer the following questions. } \\ \hline \multicolumn{5}{|c|}{ Q1: what is the lessee's lease expense in Y1 if this is an operating lease? } \\ \hline & & & & \\ \hline Q2: what is the lessee's interest expense & in Y1 if this is an opera & rating lease? & & \\ \hline & & & & \\ \hline \end{tabular} Q3: what is the lessee's amortization expense related to the right-of-use assets in Y1 if this is an operating lease? Q4: what is the lessee's amortization expense related to the right-of-use assets in Y3 if this is an operating lease? Q5: Prepare the journal entry for the lessor on 01/01/Y1 if this is an operating lease. Q6: Prepare the journal entry for the lessor on 04/01/Y2 if this is an operating lease (no need to record depreciation exp Q7: Prepare the journal entry for the lessor on 04/01/Y2 if this is a sales-type lease. Amnrtization cehadila

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Company Accounting

Authors: Ken Leo, Jeffrey Knapp, Susan Mcgowan, John Sweeting, Leah Meng

12th Edition

0730382672, 9780730382676

More Books

Students also viewed these Accounting questions

Question

What are the alternatives?

Answered: 1 week ago