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Please answer all questions, it is all one question. Thank you so much. Use the following information for questions 5 through 8 Bohl Coleased a
Please answer all questions, it is all one question. Thank you so much.
Use the following information for questions 5 through 8 Bohl Coleased a car service station from a major oil company on January 2.2007. Fair value of the service facility at the time was $1.100.000. The tease is a 10-year, noncantelable lease. Bohl uses straight line depreciation for its other various business holdings. The economic life of the facility 15 years with coro salvage value. Title to the facility will pass to Bohlat termination of the lease. A partial amortization schedule for this lease on Bohl's book is as follows: Payments Interest Reduction in Liability Lease Liability Jan 2, 2007 $928,000 Dec 31, 2007 $92.800 $58.228 369.772 $151028 151.00 Dec.31. 2008 86.977 84051 805.721 5. From the viewpoint of the lesse. what type of fane is involved above? None of the above o Operating lease Sales types Finance lease 7. What's the amount of the lessee's ability to the lessor after thi December 31, 2009 payment? (Rounded to the nearest dollar $654.695 $735.265 5805,722 5725.149 8. What is the amount of amortization expense recognized by the lossce on December 31, 2009? (Rounded to the nearest dollar 558.227 $64051 $92.800 $61.867
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