Question
In January 1, 2012, California Roofing LLC Leased a machinery and had the following information: The rental amount is $60,000 per year payable annually at
In January 1, 2012, California Roofing LLC Leased a machinery and had the following information:
The rental amount is $60,000 per year payable annually at the end of the year
The estimate life of the asset is 12 year
The interest traded is 6%
Expected residual value of the building at end of lease period (none)
There are not lease period in the residual value
instruction
Register journal entries to record the leased.
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
