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Please answer only if ur 100% sure Thumbs up for right answer Sandhill Corporation, which uses ASPE, enters into a 6 -year lease of equipment
Please answer only if ur 100% sure
Sandhill Corporation, which uses ASPE, enters into a 6 -year lease of equipment on September 1, 2023, that requires 6 annual payments of $33,000 each, beginning September 1, 2023. In addition, Sandhill guarantees the lessor a residual value of $23,000 at lease end. The equipment has a useful life of seven years. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY DUE OF 1. (a) Your answer is incorrect Using (1) tables, (2) a financial calculator, or (3) Excel functions, calculate the amount of the capital lease and prepare Sandhill's September 1, 2023 journal entry assuming an interest rate of 10\% (List all debit entries before credit entries. Credit account tities are outomatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round foctor volues to 5 decimal places, eg. 1.25124 and final answers to O decimal places, eg. 5,275.) Using (1) tables, (2) a financial calculator, or (3) Excel functions, calculate the amount of the capital lease and prepare Sandhills September 1, 2023 journal entry assuming an interest rate of 10%. (List all debit entries before credit entries. Credit account tities are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round factor values to 5 decimal places, es. 1.25124 and final answers to 0 decimal places, eg. 5,275.) Thumbs up for right answer
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