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Federated Fabrications leased a tooling machine on January 1 , 2 0 2 4 , for a three - year period ending December 3 1
Federated Fabrications leased a tooling machine on January for a threeyear period ending December The lease agreement specified annual payments of $ beginning with the first payment at the beginning of the lease, and each December through The company had the option to purchase the machine on December for $ when its fair value was expected to be $ a sufficient difference that exercise seems reasonably certain. The machine's estimated useful life was six years with no salvage value. Federated was aware that the lessor's implicit rate of return was Note: Use tables, Excel, or a financial calculator. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $ Required: Calculate the amount Federated should record as a rightofuse asset and lease liability for this finance lease. Prepare an amortization schedule that describes the pattern of interest expense for Federated over the lease term. Prepare the appropriate entries for Federated from the beginning of the lease through the end of the lease term. Complete this question by entering your answers in the tabs below. Calculate the amount Federated should record as a rightofuse asset and lease liability for this finance lease. Note: Round your intermediate and final answer to the nearest whole dollar amount. Rightofuse asset and lease liabilityRequired: Calculate the amount Federated should record as a rightofuse asset and lease liability for this finance lease. Prepare an amortization schedule that describes the pattern of interest expense for Federated over the lease term. Prepare the appropriate entries for Federated from the beginning of the lease through the end of the lease term. Complete this question by entering your answers in the tabs below. Prepare an amortization schedule that describes the pattern of interest expense for Federated over the lease term. Note: Round your intermediate and final answers to the nearest whole dollar amount. Enter all amounts as positive values.Required Prepare the appropriate entries for Federated from the beginning of the lease through the end of Note: Round your intermediate and final answers to the nearest whole dollar amount. If no entry select No journal entry required" in the first account field. Record the lease. Record the cash payment. Record the amortization for Federated. Record lease payment. Record the amortization for Federated. Record lease payment. Record the amortization for Federated. Record final lease payment. Record the entry to reflect the change from a leased asset to ownership of that asset.Federated Fabrications leased a tooling machine on January for a threeyear period ending December The lease agreement specified annual payments of $ beginning with the first payment at the beginning of the lease, and each December through The company had the option to purchase the machine on December for $ when its fair value was expected to be $ a sufficient difference that exercise seems reasonably certain. The machine's estimated useful life was six years with no salvage value. Federated was aware that the lessor's implicit rate of return was Note: Use tables, Excel, or a financial calculator. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $ Required: Calculate the amount Federated should record as a rightofuse asset and lease liability for this finance lease. Prepare an amortization schedule that describes the pattern of interest expense for Federated over the lease term. Prepare the appropriate entries for Federated from the beginning of the lease through the end of the lease term. Complete this question by entering your answers in the tabs below. Calculate the amount Federated should record as a rightofuse asset and lease liability for this finance lease. Note: Round your intermediate and final answer to the nearest whole dollar amount. Rightofuse asset and lease liability
Federated Fabrications leased a tooling machine on January for a threeyear period ending December
The lease agreement specified annual payments of $ beginning with the first payment at the beginning of the lease, and
each December through
The company had the option to purchase the machine on December for $ when its fair value was expected to
be $ a sufficient difference that exercise seems reasonably certain.
The machine's estimated useful life was six years with no salvage value. Federated was aware that the lessor's implicit rate of
return was
Note: Use tables, Excel, or a financial calculator. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $
Required:
Calculate the amount Federated should record as a rightofuse asset and lease liability for this finance lease.
Prepare an amortization schedule that describes the pattern of interest expense for Federated over the lease term.
Prepare the appropriate entries for Federated from the beginning of the lease through the end of the lease term.
Complete this question by entering your answers in the tabs below.
Calculate the amount Federated should record as a rightofuse asset and lease liability for this finance lease.
Note: Round your intermediate and final answer to the nearest whole dollar amount.
Rightofuse asset and lease liabilityRequired:
Calculate the amount Federated should record as a rightofuse asset and lease liability for this finance lease.
Prepare an amortization schedule that describes the pattern of interest expense for Federated over the lease term.
Prepare the appropriate entries for Federated from the beginning of the lease through the end of the lease term.
Complete this question by entering your answers in the tabs below.
Prepare an amortization schedule that describes the pattern of interest expense for Federated over the lease term.
Note: Round your intermediate and final answers to the nearest whole dollar amount. Enter all amounts as positive values.Required
Prepare the appropriate entries for Federated from the beginning of the lease through the end of
Note: Round your intermediate and final answers to the nearest whole dollar amount. If no entry
select No journal entry required" in the first account field.
Record the lease.
Record the cash payment.
Record the amortization for Federated.
Record lease payment.
Record the amortization for Federated.
Record lease payment.
Record the amortization for Federated.
Record final lease payment.
Record the entry to reflect the change from a leased
asset to ownership of that asset.Federated Fabrications leased a tooling machine on January for a threeyear period ending December
The lease agreement specified annual payments of $ beginning with the first payment at the beginning of the lease, and
each December through
The company had the option to purchase the machine on December for $ when its fair value was expected to
be $ a sufficient difference that exercise seems reasonably certain.
The machine's estimated useful life was six years with no salvage value. Federated was aware that the lessor's implicit rate of
return was
Note: Use tables, Excel, or a financial calculator. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $
Required:
Calculate the amount Federated should record as a rightofuse asset and lease liability for this finance lease.
Prepare an amortization schedule that describes the pattern of interest expense for Federated over the lease term.
Prepare the appropriate entries for Federated from the beginning of the lease through the end of the lease term.
Complete this question by entering your answers in the tabs below.
Calculate the amount Federated should record as a rightofuse asset and lease liability for this finance lease.
Note: Round your intermediate and final answer to the nearest whole dollar amount.
Rightofuse asset and lease liability
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