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Pleas help on the incorrect anwsers Each of the four independent situations below describes a finance lease in which annual lease payments are payable at
Pleas help on the incorrect anwsers
Each of the four independent situations below describes a finance lease in which annual lease payments are payable at the beginning of each year. The lessee is aware of the lessor's implicit rate of return (Viof $1. PV of $1. EVA of $1. PVA of $1. FVAD of $1 and PVAD of SD) (Use appropriate factor(s) from the tables provided.) Situation 93 Lease term (years) Lesson's rate of return Fair value of lease asset Lessor's cost of lease asset Residual value! Estimated fair value Guaranteed fair value 10% $50,000 $50,000 $350,000 $350,000 $75,000 $45,000 12% $465,000 $465,000 @ 0 $50,000 0 $7,000 $ 7.000 $ 45,000 550.000 Required: 6. & b. Determine the amount of the annual lease payments as calculated by the lessor and the amount the lessee would record as a right-of-use asset and a lease liability, for above situations. (Round your answers to the nearest whole dollar amount.) Required: a. & b. Determine the amount of the annual lease payments as calculated by the lessor and the amount the lessee would record as a right-of-use asset and a lease liability, for above situations. (Round your answers to the nearest whole dollar amount.) Lease Payments Situation 1 14.341 & Answer is complete but not entirely correct. Residual PV of Lease PV of Residual Right of use Value Value Assotilas Guarantee Payments Guarantee Liability 50,000 50,000 350,000 350,000 S 7.000 S 250,000 $ 4,550 $ 254,550 $ 50 000 50.000 $ $ 465 000 $ 20,194 485.194 Situation 2 Situation 3 74,275 X 18.112 89,541 Situition 4 S Step by Step Solution
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