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Pharoah Comp, which uses IFRS, signs non-renewable, non-cancellable lease agreement to lease robotic equipment from Sheridan Inc. The following information concerns the lease agreement. Click

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Pharoah Comp, which uses IFRS, signs non-renewable, non-cancellable lease agreement to lease robotic equipment from Sheridan Inc. The following information concerns the lease agreement. Click tiere to view the factor table PRESENT VAI UE OF AN ANNUITY DUE. 1(1+i)1 Using (1) factor tables, (2) a financial calculator, or (3) Excel functions, calculate the amount of the right-of-use asset and lease liability. (Round foctor values to 5 decimal places, eg. 1.25124 and final answers to 0 decimal places, eg. 5,275.) The amount of the right-of-use asset Prepare the initial entry to reflect the signing of the lease agreement. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account tities and enter 0 for the amounts.)

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