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E21-8 (Lessee Entries with Bargain-Purchase option) The following facts pert to a noncancelable aim facts lease agreement between MooneReLasingCompany and RodeSRoyany, a lessee. May 1
E21-8 (Lessee Entries with Bargain-Purchase option) The following facts pert to a noncancelable aim facts lease agreement between MooneReLasingCompany and RodeSRoyany, a lessee. May 1 Inception date: Annual lease payment due at the beginning of each year, beginning with May 1.2014. $21,227.65 Bargain rchase option price at en ease term an Cpo 2.21 5 years Lease term 10 ye Economic life of leased equipment $65,000.00 Lessor's cost $91,000.00 Fair value of asset at May 1, 2014 Lessor's implicit rate 10% 10% Lessee's incremental borrowing rate
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