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please help! thank you! A lease agreement that qualifies as a finance lease calls for annual lease payments of $60,000 over a six-year lease term
please help! thank you! A lease agreement that qualifies as a finance lease calls for annual lease payments of $60,000 over a six-year lease term (also the asset's useful life), with the first payment on January 1 , the beginning of the lease. The interest rate is 7%, Required: a. Complete the amortization schedule for the first two payments. b. If the lessee's fiscal year is the calendar year, what would be the amount of the lease liability that the lessee would report in its balance sheet at the end of the first year? What would be the interest payable? Note: Use tables, Excel, or a financial calculator. (EV of S1. PV of S1. EVA of S1. PVA or S1. EVAD of S1 and PVAD of S1) Complete this question by entering your answers in the tabs below. Complete the amortization schedule for the first two payments: Note: Enter all amounts as positive values. Round your answers to the nearest whole dollar. Note: Use tables, Excel, or a financial calculator. (FV of \$1. PV of \$1. FVA of \$1. PVA of \$1. FVAD of \$1 and PVAD of \$1) Complete this question by entering your answers in the tabs below. Complete the amortization schedule for the first two payments. Note: Enter all amounts as positive values. Round your answers to the nearest whole dollar. Note: Use tables, Excel, or a financial calculator. (EV of \$1. PV of S1, EVA of \$1. PVA of S1. EVAD of S1 and PVAD of S1) Complete this question by entering your answers in the tabs below. If the lessee's fiscal year is the calendar year, what would be the amount of the lease liability that the lessee would report in its balance sheet at the end of the first year? What would be the interest payable? Note: Round your answers to the nearest whole dollar. Table 1 Fuidere vales of $1 TABI. 2 Present value of $ ) Table 3 Futmere Vales of an Ordinary Ansuity of 51 NVA=((t+i)n1) i Table 4 Present Valee of an Oritinary Anavify of $1 Table 5 future Valoe of an Anasify Due of $1
please help! thank you!
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