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Could you please help for 6th, 7th and 8th questions ? June 1,2022 MITRA Inc. signed a 5-year lease agreement for an excavator. The present
Could you please help for 6th, 7th and 8th questions ?
June 1,2022 MITRA Inc. signed a 5-year lease agreement for an excavator. The present value of the machine is $500.000TL. July 1,2022 First installement of $10.000 is paid of which $1.000 belongs to the interest 7. On Sept 22, 2020, Space Co. signed a 8-year lease agreement for a helicopter. Annual payments are $60,000 and the the interest rate applied is 4%. Present the journal entry for itinial recognation. 8. Present the journal entries for the transactions below. A lessee enters into a three-year lease. The initial measurement of the right-of-use (ROU) is $380,000 at a discount rate of 8%. At the end of the year, the lessee paid $150.000 for the annual first installement Step by Step Solution
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