please provide correct answers for Lease Amortization Schedule
Question 2 of 3 9.9/13 Whispering Corp., which uses IFRS, signs non-renewable, non-cancellable lease agreement to lease robotic equipment from Xiu Inc. The following information concerns the lease agreement. Inception date Lease term Fair value of equipment Jan. 1. 2020 Economic life of leased equipment Annual rental payments starting Jan 1, 2020 Option to purchase at the end of the term Depreciation method Residual value Whispering's incremental borrowing rate January 1, 2020 5 years $180,000 7 years $31.182 none Straight-line none 796 Click here to view the factor table PRESENT VALUE OF AN ANNUITY DOE SOM O Search for anything 110 15 fo 23 7 0 Your answer is correct. Using (1) factor tables. (2) a financial calculator, or (3) Excel functions, calculate the amount of the right-of-use asset and lease Niability. (Round factor values to 5 decimal places, eg. 1.25124 and final answers to decimal places, eg. 5,275.) $ 136802 The amount of the right-of-use asset Credit Prepare the initial entry to reflect the signing of the lease agreement. (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 titles and enter for the amounts) Date Account Titles and Explanation Debit Jan. 1. 2020 Right-of-Use Asset Lease Liability 136802 10360 Cash SPM TEGORO Search for anything E o 1 13 DIC E 1 A us $ & 7 9 8 0 VA 9 6 5 4 1 2 3 2 UUUU.. The amount of the right-of-use asset Prepare the initial entry to reflect the signing of the lease agreement(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 titles and enter for the amounts) Debit Credit 136802 Date Account Titles and Explanation Jan. 1. 2020 Right-of-Use Asset Lease Liability 105620 31182 Cash e Textbook and Media List of Accounts o BI Search for anything EX uestion 2 of 3 9.9/13 Your answer is partially correct Prepare an amortization schedule for the term of the lease to be used by Whispering. Use Excel. (Round answers to decimal places, e.g. 5,275.) Whispering Corp. Lease Amortization Schedule (Lessee) Interest on Unpaid Liability Annual Payment Reduction of Lease Liability Ba of Lia Date $ 31182 $ 31182 January 1.2020 January 1, 2021 January 1,2022 31182 $ 9576 21606 31182 8064 23118 h for anything O C Question 2 of 3 9.9/13 Your answer is partially correct. Prepare an amortization schedule for the term of the lease to be used by Whispering. Use Excel. (Round answers to decimal places, eg. 5.275.) Whispering Corp. Lease Amortization Schedule (Lessee) Interest on Unpaid Liability Annual Payment Reduction of Lease Liability Balance of Lease Liability $ 136802 31182 $ 31182 105620 31182 $ 9576 21606 84014 60896 23118 8064 31182 earch for anything o II E 1 stion 2 of 3 9.9/13 iii VODOU Interest on Unpaid Liability Annual Payment Date Reduction of Lease Liability Ba of Lia 31182 $ 31182 31182 $ 9576 21606 January 1, 2020 January 1.2021 January 1,2022 January 1. 2023 January 1.2024 31182 8064 23118 31182 6445 24737 31182 4714 26468 e Textbook and Media List of Account anything o RI 11/ h 20) stion 2 of 3 9.9/13 Annual Payment TESCO Interest on Unpaid Liability Reduction of Lease Liability Balance of Lease Liability 136802 31182 31182 105620 31182 TA 9576 21606 84014 31182 8064 23118 60896 6445 31182 36159 24737 26468 4714 31182 9691 e Textbook and Media lict of Account o or anything be
