PROBLEM On Dec 31, from Brampton The terms ofthe lease called for Malton tomake annual payments of 50,000 each Dec 31, beginning with Dec 31, 2018, for five years with the equipment going back to the lessor at the end of this period The equipment has an estimated useful life of 5 years and no salvage value Malton accordingly accounts for this lease transaction as a finance lease The minimum lease payments were determined to have a present value of $208,493 at an effective 2018, Malton Corporation signed a five year noncancelable lease for equipment interest rate of 10 Prepare a lease amortization table for 12 31 18 12 31 19 Record Malton's Brampton's journal entries for 12 31 18 12 31 19 a b

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PROBLEM On Dec 31, from Brampton  The terms ofthe lease called for Malton tomake annual payments of 50,000 each Dec 31, beginning with Dec 31, 2018, for five years with the equipment going back to the lessor at the end of this period  The equipment has an estimated useful life of 5 years and no salvage value  Malton accordingly accounts for this lease transaction as a finance lease  The minimum lease payments were determined to have a present value of $208,493 at an effective 2018, Malton Corporation signed a five year noncancelable lease for equipment interest rate of 10   Prepare a lease amortization table for 12 31 18   12 31 19  Record Malton's   Brampton's journal entries for 12 31 18   12 31 19  a  b

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PROBLEM On Dec 31, from Brampton. The terms ofthe lease called for Malton tomake annual payments of 50,000 each Dec 31, beginning with Dec 31,

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