Part 2: Journal Entries

Record the beginning of the lease for Manufacturers Southern.

Record lease payment. (Jan 1 2021)

Record lease payment. (April 1 2021)

Record lease payment. (July 1 2021)

Record lease payment. (October 1 2021)

Record accrued interest. (December 31 2021)

Record amortization of the right-of-use asset. (December 31 2021)

Thank you for the effort you give in solving these questions! It is appreciated

8. Record lease payment (Jan 1 2022)

Here are all of the tables provided. They are listed by starting with FV of $1, PV of $1, FV of an Ordinary Annuity, PV of an Ordinary Annuity, FV of an Annuity Due, and PV of an Annuity Due.

Thank you all so much for the help! Thumbs up for all the great work provided!

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 $168,120. (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.) Related Information: Lease term Quarterly rental payments Economic life of asset Fair value of asset Implicit interest rate (Also lessee's incremental borrowing rate) 2 years (8 quarterly periods) $22,500 at the beginning of each period 2 years $168, 120 8% Required: Prepare a lease amortization schedule and 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. Complete this question by entering your answers in the tabs below. Amort Schedule General Journal 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) Payment Date Lease Payments Effective Interest Decrease in Balance Lease Balance 01/01/2021 04/01/2021 07/01/2021 10/01/2021 01/01/2022 04/01/2022 07/01/2022 10/01/2022 Total $ 0 $ 0 $ 0 Amort Schedule General Journal > counting/splendint 10/table png TABLE I Future Value of $1 FV - $1(1+ . 1 20 3. 3.0 1 1 01000 101500 102500 103000 103500 10000 10400 1050 105500 2 1030101010 104040 10506 107 10712310616010303 11000 111303 3101030 104568 061217273 110621.12436 1.14117 1.15763 1.17424 + 1 04060 106136 100 110 12551 1752 110986119252121551 1.232 $ 1.05101 10772 11040813141 11597 11879 121655 174618 12768 1.30096 10 1 06000 111560 1.19102 10000 1 1650 1.900 118810 111000 111000 103000 1149 1.23504 111000 140255 1 25921 116049 1491 146410 14115 15132 1 ISOT 1.57112 1 61051 141852 1 SEAT 6 00152109344 1.12616 115909 1910 122936 136532 1026 134010 137834 7 1 07214 L10954 114869 18809122987127228131593136036140701454 8 108286 1.12649 117166 1218401266771316811366571460210 1.47146 15469 9 109 169 114339 119509124855 130177 36290140331 1.43010155133161909 10 1.10162 1.16054 121899 128008134392 141060 1.43034 1.5597 169 170814 14 1 50363 2 1.50073 160578 1.71819 183846 1.95715 1.7132 15093 1900 1 67710 1004 194872 199256 2.14359 2.17189 23579 2.36736 2.59374 161041 207616 210454 161948 197382 22106 247594 2. 310585 1.79085 5.15978 215892 255804 23712 6.19174 1.09810 201220 3.15176 11 111567 1.17795 124337 131209 135433 45997 153945 16238571014180009 12 1.12683 1.19562126824134489 142576 151107 160103 1.695 1796 1.90121 131.13809 121355 1.29361 137851 14685356396 166507 77220 1805 200577 14 114947 1.23176 131948 1.41297 151259 161809 173168 185194 197993211609 15 1.16097 1.25023 1.34587 1.44830 1.55797 1.67535 1.80094 1.93526 2.07893 223248 2.58043 281256 3.418SS 743008 3 1143 219293 210485 225219 2.40935 2.57853 275903 233164 251811 2.7192 2.93719 3.17217 306580 3.49845 3.88328 4 11044 891610 10 6912 3 1173 2.26090 239656 3.79750 364248 4.17725 4.38711 5.47357 478459 1540102 3.42594 3.97031 459497 531089 6,13039 16 117258 1.26899 137279 148451 160471 1.73399 1.87298 2.02237 2.18287 2.35526 17 118430 1.28802 1.40024 1.52162 165285 1.79468 194790 2.11338 2.29202 2.48480 18 119615 1.30734 1.42825 1.55966 170243 185749 2.02582 220848 2.40662 2.62147 19 1.20811 132695 1.45681 159865 1.75351 1.92250 2.10685 2.30786 2.52695 2.76565 20122019 1.34686 1.48595163862 1.80611 1.98979 2.19112 2.41171 2.65330 291776 4 32763 505447 6.36604 254035 2.95216 2.09277 3.15832 2.85434 337993 3.02560 3.61653 3.20714 3.36968 3.70002 3.9902 431570 5.89509 6.54355 471712 18.46843 22.18611 26.62333 3194300 5.55992 7.68997 726334 8.61276 5.14166 5.60441 611591 6.72750 4.66096 8,06231 9.64629 3833760 21123239 1.36706 1.51567 1.67958 1.86029 205943 2 27877 2.52024 2.78596 3.07823 3.39956 4.14056 5.03383 6.10631 7.10025 8.94917 10.80385 46.00512 25 1.28243 1.45095 1.64061 1.85394 2.09378 2.36324 266584 3.00543 3.386353.81339 4.29187 5.42743 6.84845 8.62306 10.83471 13.5654 17 00006 9539622 30 1.34785 1.56308 1.81136 2.09757 2.42726 280679 3.24340 3.74532 4.32194 498395 5.74349 7.61226 10.06266 13.26768 1744940 22.89230 2995992 23737631 40 1.48886 1.81402 2.20804 2.68506 3.26204 3.95926 4.80102 5.81636 703999 8.51331 10.28572 1497446 21.72452 31.40942 45.25926 65.0008793.050971409.77160 Production bre/accounting speland 1/2.png TABLE > Present Value of $1 51 PY 16 404 4 109003097561097054 950515 1 70937720 2010087056 0.3417 0.19 0.7859 075993 07343 06 066106 6622765819000 49 809238 080771 08539 082075 078941 0141 070 070319 06764065160 01 058001 4027 0.0 0.0 0431901121 9091434 051459 081678 0.10073 016642 07337 070258 0672900600617635919 048 000 0.40043 0484100 10 0905.29 0.80167 08203507110 0.74109 070892 067556 0.61393 061 058430559 0003 0.46119 041403855432197 0 il 30.84893 0.80416 4.76214 0.7141 6.4 0.6 0.61430 48.5 4.33.470 4.755 356317313 12038145083639 0.78819 074356 0.70138 066178 062400190 055684 059 0.40 0.4401 01711035553 031 01 025608 130178000334010773030.725420 68085061940000057 056 051032 0.0156 0.46040414036770 0311 01 025758 01111111 14 080096 0.81185 0.75788 0.70773 060112 0.01778 17:48 0 0.00 0.47257 0.400 072 0 0 0 0 0 15 080135 0.7998504301069047 061186 05919 0.5556 051072 046103041793 041727 0645031594 01454 000000000 16 0.85282 0,78803 0.72845 0.67362 063317 0.87671 0.83301 8.49447 0.45311 643458 0.0345 0.33873 0.1911 6.75187 188 18 120.5438 0.77639 0.71416 0.65720 0.00502 0.55720 0.51337 0.47316 0430 040945 037136 03167 0.7070107 01 1460001 18 0.83602 0.76491 070016 064117 0.58739 0.53836 0.49363045780 041552 038147 0.35034 025 0.025 0211 017 015732 013004 0754 19 0.82774 075361 068643 062553 0.57079 0.52016 047464 043330 039573 0.36158 039051 0.7765107371 0.19 016351 0.1976 01101010 20 0.81954074247 0.67297 061027 0.55368 0.50257 045639 041464 0.37009 030703118002580031455 017541 01414 013403 0.10730 21 0.81143 0.73150 0.65978 0.595.39 0.53755 0.45557 0.43853 0.39679 0.35814 0.33436 29416 0.34151 0.1966 0.16 0.13513 011144 0.0156 607114 24 078757 0.69954 0.62172 0.55288 049193 0.43796 0.3912 0.34770 031007 0.27666 0.41 0.19715 0.15720 0.136100.10153 00170 0.00558 001158 25077977 0.61921 0.60953 0.53939 0.47761 0.42315 0.37512 0.33273 0.29530 016223 0.23300 018425 014502 0.11597 00920 07361 582 001041 28 0.75684 0.65910 0.57437 0.50088 0.43708 0.38165 033346 029157 0.25509 0.22332 0.19563 015040 011591 0.00055 0.0004 003200413700000 29 0.74934 0.61936 056311 0.48866 0.42435 036875 0.32065 0.27902 0.24295 021165 0.18456 014056 0.10733 008215 00004 0.0489 00378 0.005 30 0.74192 0.63976 0.55207 0.47674 0.41199 0.35628 0.30832 0.367000.23138 0.30064 0.17411 0.13137 0.09938 0.07537 015731 6.14568 0.83338 0 310.73458 0.63031 0.54125 0.46511 0.39999 0.34423 0.29646 0.25550 0.22036 0.19018 0.16425 0.12277 009302 0001 0.05210 0.03935 0.0290 0.00951 40 0.67165055126 0.45289 0.37243 0.30656 025257 0.20829 0.17193 0.14205 0.11746 0.09722 0.06678 0.04803 0.03184 0.02309 0.01538 000075 0.0001 and int 10e/table 3.png TABLE 3 Future Value of an ordinary Annuity of $1 FVA (1+1-1 1 1.046 159 3.04 40% 1 4.596 5.046 5.596 6.046 70% 1.0000 2.0100 10301 9. 3.59 1.0000 2.0350 1.0000 20150 3.0452 100 1.0000 1.0000 304 16000 1.0000 2.0200 3.0604 4.1216 1.0000 20400 1 0000 20700 10000 3 1.0000 2.0450 3.1370 10000 2.0500 20550 1.0000 2.0250 3.0756 4.1525 5.2563 10000 10000 20300 3.0909 4.1836 53091 1.0000 20600 3.1836 2010 3.1062 2.0900 4 3.1680 4.0604 314 31525 43101 21100 3.3421 4.0909 5.1523 3.1216 42465 5.4163 1.000 2.1000 33100 45410 6.1051 3.5400 4.272 2.1200 33744 47795 4.2149 5.3625 5 32149 44999 5.7507 5.1010 5.2010 5.4707 5.5256 5.5811 45731 5.9547 5.6371 $ 8666 5.3680 7.416 6 2270 6.3019 6.8881 791 9.999 6 6.1520 6.2296 6.3051 6.3877 6.4654 6.500 7 72135 7.3230 74343 75474 7.6625 7.7794 78983 8 82857 8.4325 8.5830 8.7361 8.8923 9.0517 9.2142 9 9.3655 9.5593 9.7546 9.9545 10159110365510 5828 10 10.4622 10.7027 10.9497 11. 2014 11 4639 117314 12 0001 6.7169 3.0192 9.1900 3.2009 81420 9.5491 6.9755 8.3938 9.8975 11.4913 7.1583 86540 102595 7.3359 8.9228 10.6366 12.4576 14.4565 7.5153 9.2004 110255 130210 7.7156 9.4872 114359 1357 3.115 100890 1229 9.7216 10.3031 12.2882 9.7833 118594 141640 16.7220 147757 11.0266 12.5779 20.70 128754 13.3164 15.1999 15.9374 15.9587 157836 17.500 32.1504 14.5835 16.3856 14.9716 16 8699 11 11.5668 11.3433 12.1687 12.4835 12.078 13.1430 13.4564 12 12.6825 13.0412 13:4121 13.7956 14.1920 14.6020 15.0355 13 13 8093 14.2368 14.6803 15.1404 15.6178 16.11.30 16.6268 14 14.9474 15.4504 15.9739 16.5190 17.0863 17.6770 18.2919 15 16.0969 166821 17.2934 179319 18 5989 19.2957 20.02.16 13.8412 154640 17.1599 18.9321 20.7841 39 5805 107068 15.9171 17.7130 19.5986 16.6455 18 9771 21.4953 17.8885 201406 201407 22.9534 18.5312 21.3343 245327 279780 31.7725 19.5614 10 8546 227132341331 26 2116 26.0192 50 1959 20 1926 22.4087 21.0151 23.2760 300149 344054 21.5786 23.1290 27.1521 37 2797 720351 30.3343 33.0034 369737 44 1059306 16 17.2579 17.9324 18.639319.3802 20.1569 20.9710 21.8345 23.7193 17 18.4304 19.2014 20.0121 20.8647 217616 22.7050 23.6975 247411 18 19.614720 4894 214123223863 23.4144244997256454 268551 19 20 8109 21.7967 22.8406 23.9450 251169 26 3572 27.6712 290636 20 22.0190231237 24.2974 25.544726.870428 2797 29.7781 313714 23.6575 25.8404 28134 30 5390 26 9904 29.4512 25.6725 28 2129 309057 33.7600 30 31 33990 373790 40 9955 37.4502 41.41 40.5447 455992 51 1591 57.2750 557491 634197 32.1023 SO 3959 569195 662038 460185 51.1601 154100 33 0660 460 36.7856 45.7630 720524 21 23.2392 24.470525.7833 27.1833 28.676530.2695 31.9692 35.7193 37.7861 39.9927 44.8652 50.4910 56.7645 64.00 72.3851 SI 115 3047849375387 40.5651439027475754 516227560849 610071 72.4355 29.0582 940081132332136 0151644960 199.000934133211111816 40 48.8864 42679 604020 67 4026 754013 34.5503 950255 1070303 120.7996 136.6056 154.7620 1996351 259.055337034 425926 581861 17.0914 79438578 /accounting/spiceland_int 10e/tableng TABLE4 Present Value of an ordinary Anty of $1 1 PVA 2045 1.54 0.6572 109 1 091019 097561 18 2 1 104 091010 197040 2.94099 3.90192 0938 1.9553 0914 18 1 21 2.55602 1160 271500 20164 5.54 604 ON 154512 2697 26701283432 3.46511 11 4 2912 3.85433 478361 2.72335 111110 24 3.5753 3.80773 4 1146 5 3.670 451505 457971 11 257710 33 399271 3. 4130 310 31 419 6 5.49719 5.41719 5.15787 4 6.72519 LT 3.33855 6 11454 687 780150 570 ST 3 765101 7.17014 671214 7.019 7.73611 491133 5538 630 6.2018 730009 5.38929 5.97130 510611 503295 471130 45613610 3.7866 55140530514014764 1116 9 56602 10 9.47130 8.98259 7679 791222 31109 7.72173 751761 TO 671005 8417666144515 7.47 13.09.17 Il 10.36783 10.07111 8.748 12 11 15500 10.907511057534 10 25776 M12 861352 13 12.1337 11.73153 11.34337 10.953191065496 10102 9.39351 9.11298 14 13.00370 12.5033812100951100011110 109.2013 10.01 10:32 2016 151388505 13.302312326 12.31133 11937941151841 11119 10.73955 1976 190175 8355790338 1541 1071 7100314 743000 73033661057 642355 453 1.115 30 611 64107 11871318 600 77 1116 16 14.71787 6131 13.87771 13.10 11.10 11.041 1143330111 10 4116 11 . 17155622540365 14 29167 171230131061217651121210567 119711036476 18 1639827 15.6725614992034353637381 110 120 121 11 110 1000 100 1917.72001 16:436171567846 14.97519 120 1370934 1313394 125119 120655211601115812 1000 201804555 171664 16351415 1916 HITN 1431340 135033 1300 17.422 1903 11:40 1050 0784310 118.850 1990014 17.011 16.15455 15.410 797 14.2016 13:40 11 12 134 11.60 10.00 33202316 3071961 1952346 1864 17403151645151 156308143081409194 1413 12 11 106308 30 25 3077124015843719646309300919000441 392051229303161389151724565335 13 48124041131038310559754 4032546929.91585 2735548 25.102782311477 2135507 19.7977840151715909160461215046103070 accounting/iceland Int 10e/table Spng TABLE 5 Future Value of an Annuity Due of $1 [(1+1 -1 FVAD 2.04 M 1 1.096 1 0100 3.09 1.54 TO150 3.59 454 3.0 5.54 . 1.0350 2 1.0300 2.0909 20101 10604 10550 20452 3.0909 41523 3 1.596 1.0250 20756 3.1525 42563 5.3877 1 0200 2.0604 3.1216 4.2040 5.3031 7. 10700 22149 4.09 10400 2.1216 3.2465 4.416) 5.6330 1.0450 21370 32782 2.1052 32149 6.0% 1.0000 21816 33746 4.6371 10:35 2.1535 33100 45256 58019 1.1900 23100 35410 1120 23744 3421 3.7007 2 6406 2.1454 356 4.3556 4 43091 4.1010 51520 5 43835 5.3502 5273 5.2396 5.4634 4.4707 5.7109 47507 61513 5 49147 6.521 5.1051 67156 5.9753 1.1152 79135 1.2004 3.4873 10435 11.9159 151 1935 6 6.2135 6.3230 6.4343 64474 6.6615 6.7794 6. 7 74325 7.5830 7.7361 80517 82142 8 8.3685 8.5593 8.7546 39545 9.1991 9.3685 95005 9 9.4622 9.7027 9.9497 10 2014 10:461910.7314 11.0051 10 10.5665 10.8633111687 11.4835 11 807812.1420 12.4864 8.3800 9.5021 112382 12.8412 7.1430 7.3600 7.95 7.6540 8.7216 9.3591 10.0266 102563 104913 109710 11.579 118754 12.1906 125164 135835139716 14.7836 12.0210 13 4856 141929 16 500 125395 13 1640 149934 15 7720 175312 13 9614 137757 165451 14957 1564 15.500 20,3843 217131 38 149171 16 7130 17.9771 20.4953 232149 151116 19.1401 21.9534 250192 172368 19.2926 21 4087 270191 16.5585 19 1606 215505 241290 26511 20.0151 269150 11 116835 12.0412 12.4121 12.7956 13.1930 13.6030 14.0358 14.4540 12 12.8093 13.2368 13.6803 14.1404 146178 15.1130 156268 161599 13 139474 14.4504 14.9739 15 5190 160863 166770 172919 179321 14 15.0969 156821 16.2934 16 9319 17.595918.2957 19.02.16 19.7541 15 16 2579 16.9324 17.693 18 3802 19.1569 19.9710203245 21.7193 11.1976 474966 58 1959 71 01 164421 362797 205786 22 6575 22 2760 24.6725 23600 320014 30 7725 349497 236411 29 3343 39.5447 41.00 35.9737 1043386 41 23.7417 49 40 1013 25.8551 21.4813 24.5404 27.134 29 5390 320660 34 7193 16 17.4104 18.2014 19.012119.167 20.7616 21.7050 21.0975 17 18 6147 194894 20.412321386322.4144 234997246454 18 19 8109 20.7967 21 8406229460 24.1169253572266712 1921.019022 1237 232974245447 25.8704 272797 287781 20 22 2392 23.470524.783336.1833 27 6765 292695309692 27.3129 29.8462 29.9057 3390 327600363790 35.7856 39.9955 389927 32.7502 36.4502 4063 44 7630 127 1167 1537400 1150 45015 50.1601 559993 63.2031 71.2851 50 151 56 750 630035 5493 6347 710534 30 3714 32.7831 2340256 55.7665 30 ET 367861 37.5052 21 23.4716 24.8.376 26.2990 27.5629 29.5363 31.329 33.2480 39.8643 48.57 0.114 54.4563 91.5016 110 307 46 5700 25 28.5256 30 5140 32 670935 0117 37.5530403131433117 50 1135 53.9660581564 67 6765 789544 566 3773 92 340 1081818 1369938 193339 30 35.1327 38 1018 41.3794 45 000349.0027 53.4295583283 69 7608 76.4194 880171010730122 3459 1465752 180 9034 2209032 2701926 1411.157 49 3752 55.081961 6100 69.0876776633 87.5095988265111.8467 1268396 1441189 164.0477213 609627978103587919 4868518 1451389 15.1041264 an TABLE Vone/accounting/spiceland Int 10e/tableng Present Value of an Annuity Due of $1 1 PVAD * (1 1.09 1.54 1.00000 3,04 2.04 100000 3.54 1.00000 50 1.00000 1 00000 4596 1.00000 2016 3.39 1 00000 18 11. 100000 1 96154 199010 1 2 3 4 197087 291147 100000 1 100 1914 295 100000 195613 2.89969 330164 1000 192593 294156 194787 297010 394099 490197 287262 21199 3.912:20 33361 311 480773 238609 3.7709 4.62990 274 27121 1577 3.85602 4 1197 2.35941 37225 45 27 357710 5 3.74095 458753 1642 471710 279911 3.51 42 3.67301 4.6511 461 431213 416 41040115 5.85345 3.71346 5.5150 5.SIN $38098 521736 7 50454 5.62355 8 5.78064 6.69719 7.59821 8.48593 9.36052 7.72819 8.65168 9.56602 5.64583 650313 734939 317014 397087 S.5791 6.41719 723028 8 01969 8.7511 7.47199 8.32548 9.16224 5.33948 6.07509 6.78637 7.46321 6 24214 7.0000 2.73234 6.03295 7.11454 787396 9 10 527025 599553 668197 735457 6 15782 6.89220 7.59519 32679 591732 658238 7.70979 7.50169 4.790 495 43.99041 535536 523054511341 43151 565427120556176460439 6.33493142596164415716 67907651705 63735503097 6.38909 697150 751523 674664 7.24689 3.60769 3.10782 7.4176 70513 11 10.47130 10.73218 9.98150 9.75306 9.53020 9.31661 9 11000 8.72173 8.62358 1211.3676311.07112 10.78685 10 51421 10.25262 10.00155 9.76048 9.52892 9094 8147 131225508 11.90751 11.57534 11.25776 10.95400 10.66333 10.38507 10.11858 9.86335 9.61852 9.38384 8.94269 14 13.13374 12.73153 12 34837 11.98318 11.63496 11.30274 10.98565 10.68285 1039357 10.11708 9.85268 9.35765 15 14.00370 13.54338 13.10625 12.69091 1229607 11.92052 11 56312 11 22383 10.19854 10.58965 10.291939.74547 7.71005 1396 8.53608 890378 9.2434 816073 71445791665011519947 749506 170652691770531706 751309 749256 7.19431541992 3.10336 7.14937742355 5576 33609790187 767817561057 84560 911256 9545 16 14.86505 14.34323 13.84936 13.38138 12.93794 12.51741 12.11830 11.73955 11.3796 1143758 10.71225 10.10791 17 15.71787 15.13126 1457771 1405500 13 56110 13.094121265230 12 23402118777 1146116 11.10590 10:44665 985137 18 16.5622515.90765 1529187 14.71220 14.16612 13.65132 13.16567 12.70719 12.77407 11.86461 1147736 10.76322101314 19 17.39827 1667256 15.99203 15.35336 14.75351141596313659301315999 1261959 12.2460711127601105909 10.37189 20 1822601 1743617 1667546 15 97889 15.32380 14.70984 1413394 1359329 1308532 12.60761215812 11.3350 10.60360 8.600 101 5.67541 38231131918 191999 572956 902155548911963571463 9.201417016234567581219 9.364921929 830573554550 9.75563 9.95011 21 19.04555 18.16864 17.35143 16.58916 15.877071521240 14.59633 14.00794 13.46121 12.95038 11460121159401 10.81515 10.12855 25 22 243392103041 19.91393 18.83499 17935541705837 1624696 15.49543 14.7955414151701355036 12.40933115876 10 70661 995434 94814 3.7845259710 30 26.06579 24 37608 22 84438 2145355 20.18845 19.03577 17.98371 1702189 16.14107 15.33310 14.59072132777 12.15841 11.1928 100 9501100011 59473 40 33.16303 30 36458 27.90259257303423 8052222.10250 20.53448 19.22966 1801704 169286 15949071425093 12571581173552 10 1909 999567 92305