Intermediate accounting

C D G H M N R S Company Z leased a computer to Company Y on 1 April 10x5, The terms show the longo are as follows: Lease Term: 4 Estimated Economic Life of the computer 4 yours Fair market value of the asset st lease inception 5.800 Purchase offer Transfer of Title Residual guaranteed value by losses, April1, 20x9 1,200 Lossee's normal depreciation method Surnight Line Longpe's incremental borrowing rame 12% 11 Execumory Coats included in lease payments None 12 Initial direct costs None 13 Annual lease payment. beginning each leake year 1,869 14 Lessor's implicit rate which is known 106 13 Losses's fiscal year and 31-Dac 16 Company Felserves a half year depreciation in the year of the acquisition and a half year in the year 1/ disposition, regardless of the actual dover ofacquisition and disposal 17 18 1. Calculate the present value (balance of right of use asset) and complete the lose amortization table. 1 Provide Entries for the lease from 1 April 20x5 through 31 December 20x0 under IFRH. 3. hhow how the right of use asset and the lease obiligation will be shown on the leasee's SFP at 31 December 20x8 21 I Suppose that at the end of the lease, the lossor tells the lessee to dispose of the amnot, and to keep any proceeds in excess of the guaranteed residual vale. Provide entries for the lease on 1 April 20xB, assuming that the lessee sells the asset for 1,300 and remits the required 1.200 payment to the lombr. assume that adjustments have already been made to accrue the last of the interest and recond depreciation for 20x9. 25 Present Value of lease: 27 29 30 Leave Amortization Table: + 12 Date LARRA PMT Interest Balance April 1, 30xs April 1, 20ud 35 April 1 20x7 30 April1 20KB 37 April 1 20x9 Part 1 Part 2 Part 3 Part 4 Part 5