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Q1. On Jan 1, 2014 NYT Company, signed a 3-year lease agreement for new equipment. The lease required NYT to make annual payments of $45,000
Q1. On Jan 1, 2014 NYT Company, signed a 3-year lease agreement for new equipment. The lease required NYT to make annual payments of $45,000 commencing Jan 1, 2014. Interest rate 5%. (7 marks) a) Journalize the entries required by NYT for each year of lease. b) Show your calculations on the next page c) Provide the lease liability Ledger for NYT on the next page.
Q1. On Jan 1, 2014 signed a 3-year lease agreement for new equipment. The lease required to make annual payments of $45,000 commencing Jan 1, 2014. Interest rate 5%. (7 marks) a) Journalize the entries required by for each year of lease. b) Show your calculations on the next page c) Provide the lease liability Ledger for ss on the next page. Jan 1 2014 Dr. Cr. Dec 31 2014 Dr. Jan 1 2015 Dr. Tor. Dec 31 2015 Dr. Cr. Jan 1 2016 Dr. Cr. Dec 31 2016 Dr. TURN OVER AND SHOW YOUR CALCUATIONS AND THE LIABILITY LEDGERStep by Step Solution
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Audit Of The Financial Stability Oversight Councils Designation Of Financial Market Utilities Report To The Financial Stability Oversight Council And The Congress
Authors: The Council Of Inspectors General On Financial Oversight
1st Edition
1503369331, 978-1503369337
