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it is not missing anything factor table is 10 page i cant add it. i never post the factor table and my wuestion answered without
it is not missing anything factor table is 10 page i cant add it. i never post the factor table and my wuestion answered without it.
Whispering Steel Company, as lessee, signed a lease agreement for equipment for 5 years, beginning December 31,2020 . Annual rental payments of $51,025 are to be made at the beginning of each lease year (December 31 ). The interest rate used by the lessor in setting the payment schedule is 6%; Whispering's incremental borrowing rate is 8%. Whispering is unaware of the rate being used by the lessor. At the end of the lease, Whispering has the option to buy the equipment for $5,000, considerably below its estimated fair value at that time. The equipment has an estimated useful life of 7 years, with no salvage value. Whispering uses the straight-line method of depreciation on similar owned equipment. Click here to view factor tables. (To record amortization.) WHISPERING STEEL COMPANY Balance Sheet December 31,2022 Assets Non-current Assets Right-of-Use Asset $ Liabilities Current Liabilities Lease Liability Long-term Liabilities Lease Liability Step by Step Solution
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