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THE QUESTION IS COMPLETE ! 
it DOES NOT use reversing entries !
There are total 6 journal entries
The following facts are for a non-cancellable lease agreement between Wildhorse Corporation and Bramble Corporation, a lessee: Lessor's implicit rate Lessee's incremental borrowing rate The collectibility of the lease payments is reasonably predictable, and there are no important uncertainties about costs that have not yet been incurred by the lessor. The lessee assumes responsibility for all executory costs. Both Bramble and Wildhorse use IFRS. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VAL.UE OF AN ANNUITY DUE. (a) Calculate the amount of the right-of-use asset and lease liability. (Round foctor values to 5 decimal pleces, eg. 1.25124 and final answers to 2 decimal places, es. 52.75.) Amount Prepare a lease amortization schedule for the lease obligation using a spreadsheet for Bramble for the five-year lease term. (Round answers to 2 decimal places, e.g. 52.75.) Prepare the journal entries on the lessee's books to reflect the signing of the lease agreement and to record the payments and expenses related to this lease for the years 2023 and 2024. Bramble's annual accounting period ends on December 31 , and Bramble does not use reversing entries. (List all debit entries before credit entries. 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 O for the amounts. Record journal entries in the order presented in the problem. Round answers to 2 decimal places, e.g. 52.75.) Prepare the journal entries on the lessee's books to reflect the signing of the lease agreement and to record the payments and expenses related to this lease for the years 2023 and 2024. Bramble's annual accounting period ends on December 31 , and Bramble does not use reversing entries. (List all debit entries before credit entries. 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 O for the amounts. Record journal entries in the order presented in the problem. Round answers to 2 decimal places, eg. 52.75.) Date Account Titles and Explanation Debit (Torecord inception and payment of lease) (To record interest) (To record depreciation expense) (To record depreciation expense) (Torecord lease payment) (To record interest) (To record depreciation expense) (Torecord lease payment) (To record interest) (To record depreciation expense) The following facts are for a non-cancellable lease agreement between Wildhorse Corporation and Bramble Corporation, a lessee: Lessor's implicit rate Lessee's incremental borrowing rate The collectibility of the lease payments is reasonably predictable, and there are no important uncertainties about costs that have not yet been incurred by the lessor. The lessee assumes responsibility for all executory costs. Both Bramble and Wildhorse use IFRS. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VAL.UE OF AN ANNUITY DUE. (a) Calculate the amount of the right-of-use asset and lease liability. (Round foctor values to 5 decimal pleces, eg. 1.25124 and final answers to 2 decimal places, es. 52.75.) Amount Prepare a lease amortization schedule for the lease obligation using a spreadsheet for Bramble for the five-year lease term. (Round answers to 2 decimal places, e.g. 52.75.) Prepare the journal entries on the lessee's books to reflect the signing of the lease agreement and to record the payments and expenses related to this lease for the years 2023 and 2024. Bramble's annual accounting period ends on December 31 , and Bramble does not use reversing entries. (List all debit entries before credit entries. 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 O for the amounts. Record journal entries in the order presented in the problem. Round answers to 2 decimal places, e.g. 52.75.) Prepare the journal entries on the lessee's books to reflect the signing of the lease agreement and to record the payments and expenses related to this lease for the years 2023 and 2024. Bramble's annual accounting period ends on December 31 , and Bramble does not use reversing entries. (List all debit entries before credit entries. 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 O for the amounts. Record journal entries in the order presented in the problem. Round answers to 2 decimal places, eg. 52.75.) Date Account Titles and Explanation Debit (Torecord inception and payment of lease) (To record interest) (To record depreciation expense) (To record depreciation expense) (Torecord lease payment) (To record interest) (To record depreciation expense) (Torecord lease payment) (To record interest) (To record depreciation expense)
