HW - 15.1 - Leases Q. 2
Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2021. Edison purchased the equipment from International Machines at a cost of $121,046. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and (Use appropriate factor(s) from the tables provided.) Required: Prepare a lease amortization schedule and appropriate entries for Manufacturers Southern from the beginning of the lease through January 1, 2022. Amortization of the right-of-use asset is recorded at the end of each fiscal year (December 31) on a straight-line basis. Complete this question by entering your answers in the tabs below. Prepare a lease amortization schedule for the term of the lease for Manufacturers Southern. (Round your intermediate calculations and final answers to the nearest whole dollar) Required: Prepare a lease amortization schedule and appropriate entries for Manufacturers Southern from the beginning of the lease through January 1, 2022. Amortization of the right-of-use asset is recorded at the end of each fiscal year (December 31) on a straight-line basis Complete this question by entering your answers in the tabs below. Record the appropriate entries for Manufacturers Southern from the beginning of the lease through January 1, 2022. Amortization is recorded at the end of each fiscal year (December 31) on a straight-line basis. (Enter your answers in whole dollars and not in millions. Round your intermediate and final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 2345678> Record the beginning of the lease for Manufacturers Southern. Note: Enter debits before credits. Journal entry worksheet 4 Note: Enter debits before credits. Journal entry worksheet 4 Note: Enter debits before credits. Journal entry worksheet Inote: ciler aedis deiore creaiss. Journal entry worksheet Journal entry worksheet 12 Record amortization of the right-of-use asset for Manufacturers Southern. Note: Enter debits before credits. Journal entry worksheet Inote: Enter aedits derore crealts. Manufacturers Southern leased high-tech electronic equipment from Edison Leasing on January 1, 2021. Edison purchased the equipment from International Machines at a cost of $121,046. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and (Use appropriate factor(s) from the tables provided.) Required: Prepare a lease amortization schedule and appropriate entries for Manufacturers Southern from the beginning of the lease through January 1, 2022. Amortization of the right-of-use asset is recorded at the end of each fiscal year (December 31) on a straight-line basis. Complete this question by entering your answers in the tabs below. Prepare a lease amortization schedule for the term of the lease for Manufacturers Southern. (Round your intermediate calculations and final answers to the nearest whole dollar) Required: Prepare a lease amortization schedule and appropriate entries for Manufacturers Southern from the beginning of the lease through January 1, 2022. Amortization of the right-of-use asset is recorded at the end of each fiscal year (December 31) on a straight-line basis Complete this question by entering your answers in the tabs below. Record the appropriate entries for Manufacturers Southern from the beginning of the lease through January 1, 2022. Amortization is recorded at the end of each fiscal year (December 31) on a straight-line basis. (Enter your answers in whole dollars and not in millions. Round your intermediate and final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 2345678> Record the beginning of the lease for Manufacturers Southern. Note: Enter debits before credits. Journal entry worksheet 4 Note: Enter debits before credits. Journal entry worksheet 4 Note: Enter debits before credits. Journal entry worksheet Inote: ciler aedis deiore creaiss. Journal entry worksheet Journal entry worksheet 12 Record amortization of the right-of-use asset for Manufacturers Southern. Note: Enter debits before credits. Journal entry worksheet Inote: Enter aedits derore crealts
