Perform the calculations for the acquisition of assets and prepare the amortization tables. You can use Excel or another compatible table program

Perform and determine the calculation of the present value of the total amount of the assets acquired and prepare the amortization tables

Perform exercise calculations and adjustments 

 

On January 1,2017, The New Era leased a new equipment and had the following information: The rental amount is $55,000 per year payable annually in advance, including $2,000 of other costs. The estimated life of the asset is 5 years The interest traded is 6% Expected residual value of equipment at end of lease period (None) There are no lease period in the residual value                                                       Amortization Table

Date,  Description Amount,  Interest Expense, Principal. Lease obligation.

1

2

3

4

5

 

Adjustments

 

Year  Total Depreciation, Other cost Related, Interest, Annual payments in operating leasing,difference between methods

2015

2016

2017

2018