On January 1, 2021, Nath-Langstrom Services, Inc., a computer software training firm, leased several computers under a two-year operating lease agreement from ComputerWorld Leasing, which routinely finances equipment for other firms at an annual interest rate of 4%. The contract calls for four rent payments of $13,000 each, payable semiannually on June 30 and December 31 each year. The computers were acquired by Computerworld at a cost of $96,000 and were expected to have a useful life of eight years with no residual value. Both firms record amortization and depreciation semiannually. (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Prepare appropriate Journal entries recorded by Nath-Langstrom Services for the first year of the lease 2. Prepare appropriate journal entries recorded by ComputerWorld Leasing for the first year of the lease TABLE Future Value of $1 PV-3110 7.016 09 9.046 120000 101 151 2014 2396 0 3:39 404 4:59 sos 5. 8.04 110100001500 10300002500 1000 100 10000001500 15000 10500 16000 100010103022 101010 105001 106000 10713) 10010010920) 110350 111303 112160 > 101010 10450 100011 107609 10927 11021114117 115763 LIN34 119102 104000 1061361004110501 12551 11475211061192221531 123 12248 3105101 102 10408 1114 115927 111769 121065 1 127616 13009 1333 107000 114190 1.27500 13100 140355 10000 116610 135971 13601 146933 109000 L1810 129503 141156 15116 10.05 11.09 11.04 1 10000 L 11000 1.19000 1 21000 12121012540 133100 136763 140193 140110 151807 157152 161051 110 17621 12800 207360 2483 1.50365 102 103 113616 3 1.19405122526 1.28532 1.30226134010374 104 109 110 111 2737 13159 16046140710145108 0086 11360 170 120176677131011 13052140210 14716 1.50 1001 1950 113077 1.3 1.47331 148610155133161909 10 11000 110054 119 120 130 14000 1400 155297 1699 170014 198591 3.58 150073 1.67770 160571 71331 1000 1.59385 1.71819 135093 1.99236 1.6I 163646 900 2.17109 170015 198715 2150 236730 177156 1.87041 1970 19 307610 121063 214159 2014 247590 2235795 2.55804 277300 1105 5.15978 6.1914 741008 11 11 17 130 131209138403 14 153345 1625 104 10000 12 13 14 13443576 151101 1010) 17986 0121 1110 1155 11 17 1435 1696 1657 177230 S 300577 11133190 149 150 151 97 211009 22000 11110001 102 103 14015577 167515 10 15 20 1730025 2101523316 25000 235313 115178 2919 251817 2123130 349545 21 300580 3.4592213120 2571 2.9371 1917 903104 2.750 1721730 1773 475450 TES 3.9598 00 91010 10 099 12.3911 15 0102 547359 255310 NO 5310 811019 101 1160471 2022 2023536 2.54035 11000 110021322330120 20 1150 151 103 10260147 1484 104 32 2103 2.0 12.560300 2011 2012 241111101020130714 14 321861 ne 33031 37000 077 OH 361611 5058 7114 11 2017 300 38 33700 ove pla TADOS HIT 100 4611 1001 100011 1110 17031 100 101 102 103 104 100 furt TABLE 2 Present Value of $1 51 PV = (1+1)" 1204 1.04 134 2.046 3.046 3.54 404 4.598 5.09 394 7.09 8.046 9.09 10.09 11.09 20.046 1 099010 098571098039 0.97581 097087 0.96611 0.90154 0.95614095216 091787 09046 093458 092593 091743 0.90909090090 0.89256 0.33 2008030 097006 0.96111 095181 0.94360 091351 0.03456 0.91571 0.90703 00945 0.39000 0.87344 015734 034168 0.03615 051162 0.79719 069444 30.97059 095612 0.94232 092860 091514 090194 031900 0.37630 0.367 033161 03392 0.81630 0.79383 07721 0.75131 073119 0717 0.57870 4090095 0010 0.928850 90595 088849 017144 035480 013858 083270 010722 0.79209 070290 0.750 0.705006801065873 063552 046335 3:0.95147 0.92826 0.90573 0.10385 016361 0.34197 022193 0.00345 0.7853 076513 0.74726 0.71299 068058 0.61993 062092 0.59315 0.5674) 0.40151 60.94305 0.91454 0.88797 0.56230 0.8.1748 0.81350 0.79031 0.76790 0.74622 0.72525 0.70496 0.66634 0.63017 0.59627 0.56447 0.33464 0.50663 0.33400 70.932 0.90101 017056 084127 021309 078599075993 074) 0.71068 061744 0.66506 062275 0.549 054703051318 0.41166 0.45735 027905 0.93348 0.8721 039 0.32015 078941 075941 073069 0.70319 067684 065160 062741 031201 0.54027 050187 0.46651 0.439 0.40388 023357 091434 0145033676 010073 070612 0.73373 070259 0.67290 064461 061769059190 0.54193 0.50035 0.4600043410039093 0.36001 019301 10 0.005290 16167 0.2015 071120 0.7409 0.70192 067556 06439 061191 0.5850 059 050835 046119 022241 038554 0.35216 032197 016151 110.0002 0.19 0.04% 0.76214 0,77343 0.68495 0.64258 0.616303846 0.55001 0.53679 4750 4751 0.38753 0.35049 0.31728 0.22743 0.13459 12 0.38745 013659 0719 014156 070138 000171 061460 0.58966 0.55654 05595 040007041101 039711 0.35553 031863 0.265 0.25668 011216 11017006 0.3403 0.77303 0.73542000005000060057 056427 053012 049156 0.46840414% 0.36770 037611 328966025751 022917 009146 14016996 00 0.750 07071 00011200177 057348 097 050507047257 0.400 0.340418 0.39350033 023199 020167 007789 15 0 16135 070935 0.74301 06901064116 0.8 055576 051672 04610304793 041727 0.50945 031534 027454 02399 020900018270 006191 a 16.05 0.7 0.72845 0.87367 0.42317 457671033101 0.04 0.45811 0.43458.38366 13383 0.29189 02337 0.21763 0.13839 016312 0.65409 17001 0.7108 0.71416 045720 000502055730 051337 043 043600403450.17136 0.31657 0.77077 023107 0.19784 0100 011564 004507 11 0.13602 076491 070016064117 058739 051134 04931 0.45380 041552 038147 0.250 0.250 0.20 0.21199 017 01522013004 003756 19031714 0.25301 005011062553057029 0.53016 0414510080039573 0.38153 B301 27051 02371 0.19H00.16351 013763011611 00130 20 03194 0 14347 067292 0.61027 055368 0.50252 045 04164 0.376 03477031180025 010 017341 01466 0110 010167 0.02000 110.10073156878 8.305380331348551.1007 0.32619186.3431 10 1470 0.1331311174 09156201114 340701094 06 0510 0.49191 % 1200 31001 00:30 019715 0.15770 011010 010153 010 0005 001258 2377971 000 000 000132 0103930076273 011000110014003 0.11597 0010 00101 00101 OWO 0.50 0.5000 4700 033 032 031 033321015040 0115 000 000 000 000 00007 01040111 400 000 33001 302 309 31011 010 01071) 000300304017000100 pl fur 6.441941036 307 414 41119 3.36000.113870064 M 1334 0.00018 0.03 0.0008 0.03333 00421 11072480300405 01 00011001100 011011 010433 0.1271 000 0000 0025 9000035 16 0110 0373410001603170110 0100 0110000001001001003164 063300 0010010000 TABLE 3 Future Value of an Ordinary Annuity of 1 (1+1 -1 FVA 1 11 10 3.51 604 7.09 NO 9.09 08 100% 1 10000 00001 10000 10 15 1.04 2.1 304 3.50 2018 10000 10000 10000 1.0000 10000 10000 10000 2010 201503000030350 2000 2015020400 0101 10453301040758 0908 310021310 4265 3.1010 12 5201053503530013695 5416) 10.01 10000 71000 10000 20500 31533 12.01 10000 21100 12.04 10000 21700 2.0450 310 20000 31 43M 10000 10700 20100 33464 40 45061 575013600 1.0000 2.0900 3271 1571 5947 31000 4303 55011 THE SC 32000 36100 33600 1016 4700 1741 47793 83 3 16110 6.1051 5:4701 CEED DIYA TO THIS 07 2153 162 1910 09 97033 10000 151 632963001 371 60330 6.7169 6.30 6 1113573310 TA 1541424317779 7398) 10192 8140 500 7361191101112142 9.41 756948101591 10 10 10.2011 110 1111 101 101011 101 1704 14619 117114 110001135779 1274 LOCE PICCO 7.3350 7.3333 7.71 9721 9.2004 94172 10561105114359 130210 1339 1394 CUTTI 103598 1197 16491 11401 14.17 SCOTT 14100 180 Og 10.644 tior POSITE SOVER 341331 11 11.5 11.0 12.0 1345 12.078 1.143 144 142 143 143335 1914 19336 16.6485 175031011 IR 14 1 176023 110412 40.96 11930 6 150258 15.64015911 180 173881897712014071343 13 13 14 15 16 15 1404 1301711190 18676 17110 13565 11 301000 200 20 2210 11450 151 101101201670128 189111 1938 302920 T01 23350 243149 27.9730 100 15 16 10 2394 199311 15 23 300336 30741 14072320251290 271511 2009 37750 OCELLI tion W WC 0616 as of PELSTE 73613 Inces ELTE SLOVE TE 18.11.13 KDY 51 81401 101 9500 CODE TELEVE OCH hoola 1935 1934 1933 1710 15 34411 IT 184504 10.3014010641100 3447 26 118011271401 214144 23.043 34 201605301007 31000 303345 30 0.0057.990 13.00 40 45.00 11.100 50.105 CHE TEST WIDE TETO DONOST SHI COFIDARE OSO 511591 3722 evenu 311001 725241868 planati 15.7183 31. TE ART 174056110757411637380 13 14 15 16 16.0 1470 124351371170014 2015 sto STE ONI CHE HOCHH further TABLE A Present Value of an ordinary Annuity of 5 1 PVA SO HO O 0660 SINO 19060 OPO (H11 2394 30 35 0907561 0:01 1911 1910 1911 1 20164277509 154110731619111710 17300 3890 4713 457971 13150 04 0049 0.0107 1 11511 116313 23727073 207101 4950515346511 1943 3703343123 2.046 100% 110 1016 10.07 098 00359309174) 0.90 090090001333 100003 70130 1.75011173554 171252 16900 1277 2013 35710 20129 240 2407 40183 31046 3.3721137397231091711035 0173 58173 100201099 3.70079100000478 290001 * 79541 00014 56013 41710 531055 P. LOOSOLES IS HSS 7010 33354713014701087 77000 700109 11110110 15300 2014 3.07500499550 000 673234859519621 2473 731 7.50 01733 4.48501 41054581 5319295.3061750129556309122000158 670979597130664 3:59 1764 1716 5995353790355301007 7.3600 YB 7100141785 614457 88031917 RESIS 10 OS 10 47110 1991 000111 100 10.3076) 1.71 1411 1.100 04 140 111111001110103701400 34333 7900 11131111 112 11 10 101 102 1030374565 091117083575 14 01 2011 1111010011100110 1664 16 * 1541 1133050511341 126 120 119 111 11010101001771235 10791 CON 61045431700 753003 160731 310 1904 7.90120100397 8.425540 1700157301170146105 591 0 7 ORTH + ng 16 147 141314 13.30 12.34114 0 10 10 10 10.40716 10.10500 R13 IN 1 318.750 47205 1 130 140 12 171230131061110111216501 1101010 10:43 10 11 1363157419 IIM 463 115 116 117 118 112 113 114 11581 HITT231711119 1120011667 136 133 134 135 1000 L 1033500000000239 73650 110 1110111110 114 113 112 111 1101 50358733320 hce SOLO IO O SE TO OVE olar 1117 118 119 120 13.4067129111 1101010 1961 19 14 100 6115 11607104 42174 17 130 131 141 14000 111011010 1984 CHE VIE LE DI WITH furth TABLE 5 Future Value of an Annuity Due of $1 FVAD v+0x[1-6] 15 WE 404 1000 13.046 DO 1 2.046 10000 10130 3546 10350 21650 0080 10 151 2014 04 101 10 1001010000 2015060120758 2099 2100 330004 0901218315353219 1010 2010 656) 490013695 3 S15050153713503 11.09 1100 RON 1000 27781 20.044 2000 10500 2.3525 3101 OLIE ICE 7.09 1.04 10700 1923464 5001 47507 1366 61330 63359 11200 374 CE 10.01 11000 2.3100 6410 STOJI 67156 26100 361 44141 6110 ICE 2002 5158 5811 4707 5.7169 30 6371 3975 361 6.HU 52278 33521 1947 0:5211 610 TASIO 0.000 AIETE TNICE DOC 1410 5491 100 7210 SCO 1153310 6.5414 415 6.774 30192 3014120711013 031 1 559175 91011 44 7021 103014 10:40 1011 110113883 10 1010 111 11433311107114012464 1112 re 10161 2004 100 114076170210 14661419 15.95 16 14873 10:59 13:3795 149374 173312 . 106594 13.160 157320 15.991 19.79 10.2011 10.070 12.100 170114 13971647 ALLS 11 118754 ZISI ast 13 2001 PER 12650 1104 og HORSE PER LOPII SOVE stion 11 112 11.1954 10 8 10 12 11 10 146170110 11016 13 14 15 16 17 11 2009 # 10 10 10 16331911 1910 1911 111117431030 1.100 411 18 1 100 21:03 141 15. 16711012 1711 19200111 0313316 274111 6411 110 20,4933 33 270) 47496 2013 26970 WAFIE 6 tion SE OG O ISTOT TIES HO HOPE MORE 1879 710757 12.0014 LOR 11 sof 21313 Inces 1611431841 366 111110010 16406 1) 1934111204114113344812 110711151578671102931110 11 12 13 14544 304 33 174 CA w AR nce in 1500 4T 10 121.145000.00 19 17 18 1637 0.101 354 01001 IM 1000 OORSI OVOCE WELE NOTE OCE IT evenue planatic COM 310810 365 further RULE 6 Present Value of an Annuity Due of $1 PVAD 1144 *(1+0) 3.04 102 00000100091 06 000001 1998 LI 2014 1 100000 100000 100000 2 010 1 103 257040 205514156 4 30 391130 40197 1533 1961 1970 291342 3.896 404 439 son 7044 2018 10.04 11.04 12018 10.01 100000 100000 10000000000 100000 1000000000 100000 100000 1000000000000000 190144 1956941 1 047) 1900 1900 10 11 201210061767 21131612281119 2002 203 271554 2133 2005 257778 110104 7750 3:16 3211576987101 1603337710 33129 4670 4575 40593 45051545511 30721 3113924107410345 40175 35 HET DECO 0000 6000 1165 115002 47197 11901 HOPE TERIT 71710 sosis 7 47979 405 4018309011 343535153057301443355 re 2164 364515771 48 241119 17 79 1411992103111454 431141114 18737661 1 413 23 100409211 0341 615701 60710 3933 37661 76030569370670 6503 3017 2124 787481173307 7.30978 97830 6466 3070169751133 LOGO 40 LEDS OF THE ras OR 811064*1716 670370 85 100 0.93 og tion 11 10:43 10 100 101 11017117 3000 7.71008 111403688933 1936 11 10 10 10 101 102 100155 01310641 09354 3567 1967 170119 74950 700 693770 3700 112508 1907 1174 115 10500 10 10 10 10 11251 1250 5000 10071 73100956 YIHUT 5192 111111171111 120 11301111110 10 10 10 10 10 508375 2017 1010011001100110111111113385041 104 4 790187 TAHIT 1017 tion DRESS STEEL on EN as of STALO Inces 1 0 30 36 24 110 111 1113055 11 11.637 1071210091 9.00 MOS T310 1117 118 119 12010013501013000 1200123411461616 10:46 3336172954 I 171230 H 1160113 151 07 13 19 101110303 334 KITS 179 180 120 133 134 11 11 13 15 13 114001 10110101 011037 513 1113001760111 112 113 111111001000000 hce in SSSSS Ovenue 1145 114 11310 14.00 14 115 116 110 111 112345 150110011111111111111110110 304211535510 15 20 30 planatio W CESTOITAINES further